Title 24, Retirement and Pensions

(a) Effective July 1, 1993, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1993 shall be increased by two and nine-tenths percent (2.9%) above the …

(a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1997 shall be increased by two and two-tenths percent (2.2%) above the a…

(a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1997 shall be increased by two percent (2%) above the annuity such retir…

No benefit enhancement provided for by § 24-5-116 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by § 24-5-116 shall be implemented …

No benefit enhancement provided for by § 24-5-118 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by § 24-5-118 shall be implemented …

The Board of Trustees of the Arkansas State Highway Employees' Retirement System shall present to the Joint Committee on Public Retirement and Social Security Programs information concerning the statutory authority and actuarial appropriateness of proposed board actions to establ…

(a) (1) Beginning on March 1, 2001, the Arkansas State Highway Employees' Retirement System shall pay an amount not to exceed seven thousand five hundred dollars ($7,500) to the named beneficiary of the retiree or a member in the Arkansas State Highway Employees' Deferred Retirem…

(a) Beginning July 1, 2001, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 2001 shall be increased by four and eight-tenths percent (4.8%) above th…

(a) The Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall operate the Arkansas State Highway Employees' Retirement System and interpret any provisions of this chapter consistent with the requirements under the Internal R…

(a) Notwithstanding any other provision of this chapter, benefits paid under this chapter shall not exceed the limitations of the Internal Revenue Code, 26 U.S. Code § 415, as it existed on January 1, 2011, that are applicable to governmental plans. (b) The Board of Trustees of t…

(a) The Board of Trustees of the Arkansas State Highway Employees' Retirement System may establish a deferred retirement option plan for its members so that, in lieu of terminating employment, they might continue with employment and accept a service retirement benefit pursuant to…

(a) In the event a plan is established, the Arkansas State Highway Employees' Deferred Retirement Option Plan shall have, as a minimum, provisions which require that:(1) The Board of Trustees of the Arkansas State Highway Employees' Retirement System approve of the person's parti…

(a) No benefit enhancement provided by §§ 24-5-201 and 24-5-202 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. (b) No benefit enhancement provided by §§ 24-5-201 and 24…

(a) The Board of Trustees of the Arkansas State Highway Employees' Retirement System, in consultation with its actuary, may promulgate rules to lower the required years of service for entry into the Arkansas State Highway Employees' Deferred Retirement Option Plan authorized by t…

(a) (1) The Arkansas State Police Commission is authorized and empowered to create and administer a system of paying disability, pension, and retirement pay funds to members of the Division of Arkansas State Police and their dependents and survivors.(2) The commission shall have …

(a) In addition to the provisions of § 24-6-214:(1) (A) An employee who is an active member of the State Police Retirement System on March 12, 1987, and who is vested for a full age and service annuity and who has credit in the system for three (3) consecutive actual years of ser…

Nothing in this chapter shall be taken or interpreted as a waiver of the state's sovereign immunity.

(a) As used in this section, “armed forces reserve” means one (1) of the reserve components of the United States Army, United States Navy, United States Air Force, United States Marine Corps, United States Space Force, or United States Coast Guard. (b) (1) A member of the State P…

(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…