Title 24 — Retirement and Pensions
12 chapters · 740 sections in this title.
Ark. Code Ann. § 24-2-801 Title
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This subchapter shall be known and may be cited as the “State Government Employee Retirement Protection Act”.
Ark. Code Ann. § 24-2-802 Definitions
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(1) As used in this subchapter:(1) “Fiduciary” means a person who, with respect to a pension benefit plan:(A) Exercises any discretionary authority or discretionary control regarding the management of the pension benefit plan or exercises any authority or control regarding the ma…
Ark. Code Ann. § 24-2-803 Standard of care — Sole interest and prudent person
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(1) A fiduciary shall discharge his or her duties with respect to a pension benefit plan:(1) Solely in the pecuniary interest of the participants and beneficiaries and for the exclusive purpose of:(A) Providing pecuniary benefits to participants and their beneficiaries; and(B) De…
Ark. Code Ann. § 24-2-804 Consideration of nonpecuniary factors prohibited
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(a) A fiduciary's evaluation of an investment, or evaluation or exercise of any right appurtenant to an investment, shall take into account only pecuniary factors. (b) A fiduciary shall not promote a nonpecuniary benefit or any other nonpecuniary goals. (c) (1) An environmental, …
Ark. Code Ann. § 24-2-805 Voting ownership interests
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(a) (1) All shares held directly or indirectly by or on behalf of a pension benefit plan or its beneficiaries, or both, shall be voted upon solely in the pecuniary interest of the pension benefit plan participants.(2) Voting to further a nonpecuniary, environmental, social, polit…
Ark. Code Ann. § 24-2-806 Enforcement
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(a) This subchapter may be enforced by the Attorney General. (b) If the Attorney General has reasonable cause to believe that a person has engaged in or is engaging in a violation of this subchapter, the Attorney General may:(1) Require the person to file on forms the Attorney Ge…