Browse Arkansas Code titles and sections
24-10-510. Service credit for former military personnel.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-10-510. Service credit for former military personnel.
(a) An active member of the Arkansas Local Police and Fire Retirement System may purchase credited service in the system 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 employment covered by the system, if the member:
(1) Received an honorable discharge from the armed forces;
(2)(A) Has at least five (5) years of actual service in the system.
(B) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section; and
(3)(A) Contributes to the system an amount that is the actuarial equivalent of the value of the credited service to be purchased.
(B) The actuarial equivalent is of the time of the purchase of the credited service and shall be determined by the actuary for the system.
(b) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall make the final determination as to the:
(1) Length of purchased service credit;
(2) Amount of regular interest to be charged; and
(3) Manner in which payment is made to the system.
(c) Service credit purchased under this section shall be used to determine the member's total credited service under the system but shall not be used to determine his or her final average pay under the system.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-10-510
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:24-10-510
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 01d3392db2a4acf84195f7389b8cad447f82e719ce56caec288be9e055d546e5
Source location: content.xml paragraph 10379
Stored source content
24-10-510. Service credit for former military personnel.
(a) An active member of the Arkansas Local Police and Fire Retirement System may purchase credited service in the system 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 employment covered by the system, if the member:
(1) Received an honorable discharge from the armed forces;
(2)(A) Has at least five (5) years of actual service in the system.
(B) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section; and
(3)(A) Contributes to the system an amount that is the actuarial equivalent of the value of the credited service to be purchased.
(B) The actuarial equivalent is of the time of the purchase of the credited service and shall be determined by the actuary for the system.
(b) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall make the final determination as to the:
(1) Length of purchased service credit;
(2) Amount of regular interest to be charged; and
(3) Manner in which payment is made to the system.
(c) Service credit purchased under this section shall be used to determine the member's total credited service under the system but shall not be used to determine his or her final average pay under the system.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
No explicit source connection was found. This does not mean there are no relevant authorities.