Title 24 — Retirement and Pensions

(a) The provisions of this subchapter are intended to establish procedures whereby the benefits to members and beneficiaries under the firemen's relief and pension funds and the policemen's pension and relief funds within the respective municipalities of this state may be increas…

(a) The board of trustees of a municipal firemen's relief and pension fund and the board of trustees of a policemen's pension and relief fund are authorized to increase benefits for future or current retired members and beneficiaries of the firemen's relief and pension fund or po…

(a) The cost of actuarial valuation made under the provisions of § 24-11-102 shall be paid by the board of trustees of the firemen's relief and pension fund or the board of trustees of the policemen's pension and relief fund which proposes to increase member or beneficiary benefi…

The Department of Finance and Administration is authorized to promulgate such reasonable rules as are necessary to carry out the provisions of §§ 24-11-301 and 24-11-809.

The board of trustees of the local firemen's relief and pension fund or the board of trustees of the local policemen's pension and relief fund may elect to continue paying survivor benefits to spouses who remarry after they begin receiving benefits under the plan. However, before…

(1) As used in this subchapter, unless the context otherwise requires:(1) “Accountant” means an accountant who is authorized by Arkansas law to practice public accounting in Arkansas;(2) “Actuary” means an actuary:(A) Who is a member of the American Academy of Actuaries or who me…

(a) If it is determined that a plan is not complying with the provisions of this subchapter, the Executive Director of the Arkansas Fire and Police Pension Review Board shall certify the noncompliance to the Secretary of the Department of Finance and Administration, who shall wit…

(a) The purpose of this section, which creates and establishes the Arkansas Fire and Police Pension Review Board, is to establish a state pension review board for all municipal firemen's relief and pension funds and policemen's pension and relief funds established under §§ 14-52-…

(a) The general financial objective of each plan shall be to establish and receive contributions, expressed as percentages of active employee payroll or, in the case of volunteer fire department pension plans, expressed in dollar amounts, which will remain approximately level fro…

(a) (1) The Executive Director of the Arkansas Fire and Police Pension Review Board shall cause an actuarial valuation of each plan to be made annually to determine how well the plan is meeting the objectives set forth in § 24-11-204.(2) The actuarial valuation shall be prepared …

(a) Each plan shall cause to be prepared an annual financial report following the close of each fiscal year. The financial report shall contain at least the following information:(1) A summary of the benefits available to covered persons; and(2) The accounting information specifi…

(a) (1) The board of trustees of each plan shall annually cause a financial report to be prepared covering each plan fiscal year.(2) The annual financial report shall be prepared at the direction of the board of trustees and in accordance with reporting procedures established by …

(a) The purpose of this section is to provide a method for the funding of benefits in certain underfunded plans. Some of the municipal fire and police pension funds established under §§ 14-52-106, 24-11-401 — 24-11-403, 24-11-405 — 24-11-413, 24-11-416, 24-11-417, 24-11-422, 24-1…

A.C.A. § 24-11-209Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

(a) This section shall be considered a part of the plan of each firemen's relief and pension fund and policemen's pension and relief fund that is subject to this subchapter. Each plan is intended to qualify under the Internal Revenue Code, 26 U.S.C. § 401(a), and is for the exclu…

(a) (1) There is created the Arkansas Policemen's Pension Supplement Program, to be administered by the Department of Finance and Administration.(2) As used in this section, “retired police officers” includes:(A) Police officers who are retired from active service; and(B) Police …

(a) A Future Supplement Fund is created for the purpose of providing cost-of-living assistance and minimum-benefit-amount assistance to policemen's pension and relief funds and firemen's relief and pension funds. (b) The Future Supplement Fund shall be administered by the Departm…

(a) (1) (A) The premium taxes collected under § 24-11-301 shall be placed in a fund combined with the premium taxes collected pursuant to § 24-11-809.(B) The combined fund shall be entitled the “Firemen's and Police Officers' Pension and Relief Fund”.(C) The Firemen's and Police …

(a) An actuary who is a member of the American Academy of Actuaries shall evaluate the information submitted under this section and §§ 24-11-213 and 24-11-215 to determine the amount of the premium tax revenues to be directed to each city, town, or fire protection district. (b) (…

(a) Revenues distributed to the State of Arkansas as general revenue are subject to the allocations in this section. (b) (1) All taxes that are levied on insurers that are allocated to general revenues under § 24-11-213 may be allocated to the Fire Protection Premium Tax Fund, un…

(a) A local firemen's relief and pension fund or a local policemen's pension and relief fund shall meet the minimum asset management standards established under this section. (b) (1) A local firemen's relief and pension fund or a local policemen's pension and relief fund shall be…

(a) An additional allocation for certain underfunded plans as described in this section is created. (b) The allocation shall be based on fifteen percent (15%) of the actuarial cost under § 24-11-214 and shall be available for certain policemen's pension and relief funds and firem…

(a) (1) Sixty-six and two-thirds percent (66⅔%) of the total tax revenues derived from premium taxes paid to the State of Arkansas by alien and foreign insurance companies upon premiums collected by the insurance companies upon insurance contracts written on motor vehicles, the l…

A.C.A. § 24-11-302Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

A.C.A. § 24-11-303Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

This subchapter shall not apply to any city that had a policemen's pension and relief fund on June 10, 1937.

(a) The provisions of this subchapter shall be suspended and inoperative in any city affected by the provisions of this subchapter until made available by a vote favorable thereto of the majority of qualified electors of the cities participating in any election on the question an…

(a) Annually, a tax not to exceed one (1) mill on the dollar of all taxable property in any cities or towns in this state is levied as a fund for pensioned and superannuated members of the police department, for the surviving spouses and minor children or dependent parents of dec…

(a) (1) After being once approved by a majority of those voting on the question at any general or special election in any city of the first class or city of the second class, a tax not to exceed one (1) mill on the dollar upon the assessed value of the real and personal property …

(a) The board of trustees of the policemen's pension and relief fund shall consist of seven (7) members as follows:(1) The chief executive officer of the city, who shall be chair of the board;(2) The city treasurer, who shall be treasurer of the fund;(3) (A) (i) Five (5) active o…

(a) (1) In those local police pension and relief funds that cover fewer than five (5) members, a local board of trustees may no longer exist, and the fund shall be designated as inactive by the employer.(2) As used in this section, “member” includes an active member or a retired …

(a) There shall be kept in the office of the board of trustees by the secretary a book known as the list of retired police officers. (b) This book shall give the full and complete history and record of action of the board of trustees in retiring any and all persons under this sub…

(a) The treasurer shall be the custodian of the pension fund and shall keep his or her books and accounts concerning the funds in such manner as may be prescribed by the board. (b) The books and accounts shall be subject to the inspection of any member of the board. (c) (1) Withi…

The board shall deposit all moneys into the bank selected as the fiscal agent of the city in which it is located, but only if the moneys draw the same rate of interest as the city receives on its deposits. Otherwise, the board shall make its own selection of the bank.

(a) The board of trustees of the policemen's pension and relief fund shall have the power to draw sums from its treasury, only upon warrants signed by the chair of the board of trustees of the policemen's pension and relief fund and countersigned by the policemen's pension and re…

(a) Except as provided in subsection (c) of this section, all moneys paid from the pension and relief fund shall be paid by the treasurer only upon warrants signed by the chair and countersigned by the secretary thereof. (b) Except as provided in subsection (c) of this section, n…

The board of trustees shall report to the council or city commission the condition of the pension fund on the first regular meeting in January of each year.

(a) There shall be added to the policemen's pension and relief fund the following moneys:(1) All forfeitures and fines imposed upon any member of the police department by way of discipline;(2) All money given or donated to the fund;(3) All money deducted from the salary of any me…

A.C.A. § 24-11-414Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

(a) (1) (A) In all cities and towns, all goods confiscated by a police officer of the city, by the sheriff, or by an officer of the Division of Arkansas State Police within the city and that are no longer needed as evidence shall be sold at auction or internet auction.(B) The auc…

If at any time there should not be sufficient money in the fund to pay each person a full amount to which he or she may be entitled, the beneficiaries shall be paid by prorating the fund available among them.

(a) No portion of the policemen's pension and relief fund shall at any time be subject to seizure or levy under any process whatsoever for the payment of any claim or debt held against any disabled member or the surviving spouse, dependent parent, or child of a deceased or retire…

(a) Any active member of a policemen's pension and relief fund may purchase credited service in the pension fund equivalent to a period not to exceed five (5) years for service rendered by the member while on active duty in the United States Armed Forces before the member's emplo…

A.C.A. § 24-11-419Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

A.C.A. § 24-11-420Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

(a) (1) In the event a former member again becomes an employee of the same police department where previously employed, the police officer shall again become a member of the system, and the credited service forfeited by him or her shall be restored to his or her credit, but only …

(a) (1) (A) Any member of a police department who has performed faithful service for a period of at least twenty (20) years shall be eligible for voluntary retirement.(B) Upon written application by the member, the member shall be entitled to receive from the fund a monthly pensi…

(a) (1) (A) If any member of a police department becomes physically or mentally permanently disabled and this fact is certified by a physician named by the local board of trustees, he or she shall be entitled to retire and receive a pension as provided herein. A member of the pol…

Retired police officers who are eligible to receive benefits from a policemen's pension and relief fund shall receive from the policemen's pension and relief fund a minimum monthly benefit of no less than three hundred fifty dollars ($350).

(a) (1) (A) If any active police officer or any retired member dies from any cause, leaving a surviving spouse, then the board of trustees shall direct a monthly pension during the surviving spouse's life in an amount equal to the lesser of the:(i) Pension attached to the rank of…