Title 24, Retirement and Pensions

(1) As used in this subchapter:(1) “Accumulated contributions” means the sum of all amounts deducted from the salaries of a member and credited to his or her individual account in the members' deposit account, together with regular interest credited thereon;(2) “Beneficiary” mean…

(a) Any person who knowingly makes any false statements or who falsifies or permits to be falsified any records of the State Police Retirement System or the Division of Arkansas State Police in an attempt to defraud the system as the result of that act shall be guilty of a misdem…

The State Police Retirement System is created and established in conformance with this subchapter.

(a) (1) The Board of Trustees of the State Police Retirement System is created.(2) (A) The board shall consist of seven (7) trustees, as follows:(i) One (1) active or retired member enrolled in the Tier I benefits program;(ii) One (1) active vested member enrolled in the Tier II …

(a) Should any change or error in the records of the State Police Retirement System or the Division of Arkansas State Police result in any person's receiving from the system more or less than he or she would have been entitled to receive had the records been correct, the Board of…

(a) (1) There is established on the books of the Treasurer of State, Auditor of State, and Chief Fiscal Officer of the State a fund to be known as the “State Police Retirement Fund”, which shall consist of the trust funds designated by law.(2) The State Police Retirement Fund sha…

(a) The Director of the Division of Arkansas State Police and all other state police officers shall become members of the State Police Retirement System. (b) All persons who became, or become, state police officers after March 19, 1951, shall become members of the system. (c) Non…

(a) (1) (A) The contributions of a contributory member to the State Police Retirement System covered by the contributory provisions shall be nine and one-fourth percent (9.25%) of the member's salary.(B) However, no member may be required to pay more than nine and one-fourth perc…

(a) The Division of Arkansas State Police, as employer, shall make contributions to the State Police Retirement System of twenty-six percent (26%) of active member payroll. (b) (1) At the request of the Executive Secretary of the State Police Retirement System, the Secretary of t…

(a) (1) Any member who shall become separated from the employ of the Division of Arkansas State Police by reason of service in the United States Armed Forces shall have the service, not to exceed a total of five (5) years, credited to him or her as division service, but only if h…

(a) A member shall be separated from Division of Arkansas State Police employment the first day of the calendar month next following the month in which he or she attains sixty-five (65) years of age. (b) If, upon his or her separation from division employment, the member has five…

(a) (1) Any contributory member who has acquired twenty (20) or more years of credited service or any contributory member who has attained fifty (50) years of age and has acquired five (5) or more years of actual service may voluntarily retire upon written application filed with …

(a) (1) (A) Upon application filed with the Board of Trustees of the State Police Retirement System by a member or by the Director of the Division of Arkansas State Police on behalf of a member, a member who is in the employ of the Division of Arkansas State Police, who has five …

(a) Upon his or her retirement as provided in this subchapter, a member shall receive a straight life pension equal to the following sum: Two and nine hundred forty-nine thousandths percent (2.949%) of his or her final average compensation multiplied by the number of years, and a…

(a) In the event a retirant who is in receipt of a straight life pension dies before he or she has received in straight life pension payments an aggregate amount equal to his or her accumulated contributions standing to his or her credit in the members' deposit account at the tim…

(a) (1) In the event a retirant dies and leaves a spouse to whom the retirant was married, the surviving spouse shall receive a pension equal to seventy-five percent (75%) of the retirant's pension, but only if the spouse has under care the retirant's dependent children whose dat…

(a) (1) A member's surviving spouse who has the care of the member's dependent child or children shall receive a pension equal to the greater of one thousand eight hundred dollars ($1,800) per annum or seventy-five percent (75%) of the pension to which the member would have been …

(a) (1) In the event any state police officer is killed while in the performance of his or her duties, yet the surviving spouse and surviving children of the state police officer are deprived of receiving benefits as prescribed in § 24-6-217 because the state police officer was n…

(a) Each July 1 the State Police Retirement System shall redetermine the amount of each monthly benefit which has been payable by the system for at least twelve (12) full calendar months. The redetermined amount shall be payable for the following twelve (12) calendar months. (b) …

(a) Each person receiving retirement benefits from the State Police Retirement System on July 1, 1983, shall, beginning July 1, 1983, receive an increase in monthly benefits of five percent (5%). (b) Beginning on July 1, 1984, all persons who were receiving benefits under the sys…

(a) (1) Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the State Police Retirement System who retired prior to July 1, 1982, shall be increased as follows: Date of Retirement | Percent of Increase 7-1-82 and after | 0% 7-1-80 t…

(a) (1) In the event a member leaves the employ of the Division of Arkansas State Police prior to the date he or she becomes entitled to retire with a pension payable from funds of the State Police Retirement System, he or she shall be paid, upon his or her written application fi…

(a) No person entitled to any interest or share in any pension, any return of contributions or accumulated contributions, or any other benefit payable or to be made payable from funds of the State Police Retirement System shall have the right to anticipate such entitlement or to …

(a) On July 1, 1991, the monthly retirement benefit payable to retirants and beneficiaries of the State Police Retirement System who retired June 1, 1991, or before, shall be increased by four percent (4%) of the benefit payable on June 1, 1991. (b) The increase in benefits provi…

(a) (1) The noncontributory benefit provisions of this chapter shall be applicable to each person who has never been a member of the State Police Retirement System before January 1, 1978, and who is employed before April 3, 1997, in a position covered by the system and who thereb…

(a) (1) Any member who has acquired five (5) years but less than twenty-eight (28) years of actual service and has attained sixty-five (65) years of age may retire upon written application filed with the Board of Trustees of the State Police Retirement System.(2) Any member who h…

(a) (1) Upon retirement as provided in this subchapter, a member shall receive a straight life pension equal to one and sixty-six-hundredths percent (1.66%) of his or her final average compensation multiplied by the number of years and any fraction of a year of his or her credite…

(a) The effective date of monthly benefits payable to a survivor of a deceased member under § 24-6-217 or payable to an eligible survivor under § 24-6-218 is the first day of the calendar month next following the month in which the member died, regardless of when the survivor sub…

In lieu of terminating employment and accepting a service retirement pension, any state police officer who is a member of Tier I of the State Police Retirement System who has not less than twenty-eight (28) years of credited service and who is eligible to receive a service retire…

For purposes of this subchapter, credited service shall include service credit recognized pursuant to § 24-6-201(11).

(a) When a member begins participation in the Arkansas State Police Officers Deferred Option Plan, the employer contributions shall continue to be paid. (b) State contributions for employees who elect the plan shall be credited to the State Police Retirement System. (c) The month…

(a) The member's monthly retirement benefit shall not change unless the Arkansas State Police Officers Deferred Option Plan receives a benefit increase. (b) (1) A member who participates in the plan shall earn interest at a rate set by the Board of Trustees of the State Police Re…

A participant in the Arkansas State Police Officers Deferred Option Plan shall receive, at the option of the participant, a lump-sum payment from the account equal to the payments to the account, or a true annuity based upon the account of the participant, or may elect any other …

(a) The duration of participation in the Arkansas State Police Officers Deferred Option Plan for active state police officers shall not exceed seven (7) years. (b) At the conclusion of a member's participation in the plan, the member shall terminate employment with the Division o…

If the participant dies during the period of participation in the Arkansas State Police Officers Deferred Option Plan, a lump-sum payment equal to the account balance of the participant shall be paid to the participant's survivor.

A Tier Two Benefit Plan for the State Police Retirement System is created and established in conformance with this subchapter.

(a) All state police officers first hired on or after April 3, 1997, shall be covered by the benefit provision of this subchapter. (b) (1) All state police officers who were hired prior to April 3, 1997, and who are active members of the State Police Retirement System on April 3,…

(1) As used in this subchapter:(1) “Accumulated contribution” means the sum of all amounts deducted from the salaries of a member and credited to his or her individual account in the members' deposit account, together with regular interest credited thereon;(2) “Actual service” me…

(a) (1) Any member who has acquired five (5) years but less than twenty-eight (28) years of credited service and has attained sixty-five (65) years of age may retire upon his or her written application filed with the Board of Trustees of the State Police Retirement System.(2) Any…

(a) (1) (A) Upon application filed with the Board of Trustees of the State Police Retirement System by a member or by the Director of the Division of Arkansas State Police on behalf of a member, a member who is in the employ of the Division of Arkansas State Police, who has five …

(a) (1) Upon retirement as provided in this subchapter, a member shall receive a straight life pension equal to two and sixty-five-hundredths percent (2.65%) of the member's final average compensation multiplied by the number of years and any fraction of a year of his or her serv…

(a) In the event a retirant who is in receipt of a straight life pension dies before he or she has received in straight life pension payments an aggregate amount equal to his or her accumulated contributions standing to his or her credit in the members' deposit account at the tim…

(a) A member may elect to receive his or her annuity as a straight life annuity or elect to have that annuity reduced and designate a beneficiary in writing and file the elections with the State Police Retirement System before that annuity starting date under one (1) of the follo…

(a) Each July 1 the State Police Retirement System shall redetermine the amount of each monthly benefit which has been payable by the system for at least twelve (12) full calendar months. The redetermined amount shall be payable for the following twelve (12) calendar months. (b) …

(a) (1) Any member or former member with sufficient years of service to qualify for a vested termination annuity who has not attained his or her voluntary retirement age as provided in § 24-6-404 may retire with an early annuity provided for in subsection (b) of this section upon…

(a) If an active member with five (5) or more years of actual service, including service for the year immediately preceding his or her death, dies in employer service before retirement, the applicable benefit provided in this section shall be allowed upon the survivor's written a…