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24-11-211. Arkansas Policemen's Pension Supplement Program.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-11-211. Arkansas Policemen's Pension Supplement Program.
(a)(1) There is created the Arkansas Policemen's Pension Supplement Program, to be administered by the Arkansas Fire and Police Pension Review Board.
(2) As used in this section, “retired police officers” includes:
(A) Police officers who are retired from active service; and
(B) Police officers who remain actively employed while participating in the Arkansas Police Officers' Deferred Retirement Option Plan under a policemen's pension and relief fund.
(b)(1) The Policemen's Pension Supplement Program Fund is created to provide a state fund to provide financial assistance to certain retired police officers and their survivors who are receiving pensions from policemen's pension and relief funds.
(2) The Policemen's Pension Supplement Program Fund shall be funded by that portion of those unallocated premium taxes levied on insurers for the support of police retirement programs that is transferred to the control of the board under § 24-11-215(c).
(c)(1) The board shall administer the program and make the payments called for under the program, including formulating necessary rules, procedures, and forms.
(2) The board may retain one percent (1%) of the funds transferred for administrative expenses of the program.
(d) Retired police officers and their survivors are eligible for the pension supplement under this program as follows:
(1) A retired police officer or a survivor receiving retirement benefits from a local policemen's pension and relief fund of less than four hundred dollars ($400) per month shall receive a supplement under the program in an amount equivalent to raise his or her total benefits plus the supplement to four hundred dollars ($400) per month or the amount in subdivision (d)(2)
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-11-211
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.
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Stable record: arkansas_code:legal_authorities:24-11-211
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cd8c5fa684c06839cb108957a6ac9d04e28636dd9427f4c7b7a7d585602bf702
Source location: content.xml paragraph 11252
Stored source content
24-11-211. Arkansas Policemen's Pension Supplement Program.
(a)(1) There is created the Arkansas Policemen's Pension Supplement Program, to be administered by the Arkansas Fire and Police Pension Review Board.
(2) As used in this section, “retired police officers” includes:
(A) Police officers who are retired from active service; and
(B) Police officers who remain actively employed while participating in the Arkansas Police Officers' Deferred Retirement Option Plan under a policemen's pension and relief fund.
(b)(1) The Policemen's Pension Supplement Program Fund is created to provide a state fund to provide financial assistance to certain retired police officers and their survivors who are receiving pensions from policemen's pension and relief funds.
(2) The Policemen's Pension Supplement Program Fund shall be funded by that portion of those unallocated premium taxes levied on insurers for the support of police retirement programs that is transferred to the control of the board under § 24-11-215(c).
(c)(1) The board shall administer the program and make the payments called for under the program, including formulating necessary rules, procedures, and forms.
(2) The board may retain one percent (1%) of the funds transferred for administrative expenses of the program.
(d) Retired police officers and their survivors are eligible for the pension supplement under this program as follows:
(1) A retired police officer or a survivor receiving retirement benefits from a local policemen's pension and relief fund of less than four hundred dollars ($400) per month shall receive a supplement under the program in an amount equivalent to raise his or her total benefits plus the supplement to four hundred dollars ($400) per month or the amount in subdivision (d)(2) of this section, whichever is greater; and
(2) A retired police officer or a survivor currently receiving retirement benefits from a local policemen's pension and relief fund of four hundred dollars ($400) or more per month shall receive a supplement under the program of fifty dollars ($50.00) per month.
(e) The payment shall be treated for all purposes as a supplement to the retirement benefits received by the person.
(f) On or after July 1 of each fiscal year following the board's payments required by subsection (e) of this section, the board shall pay to the State Treasury the amounts transferred to the board under § 24-11-215(c) that exceed the amounts the board is required to pay under the program.
(g)(1) The program is effective July 1, 1999.
(2) The first payments may be made under the program beginning July 31, 1999, and the first transfer under § 24-11-215(c) shall occur on July 25, 1999, and on each July 25 thereafter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-11-215. Allocation of insurance premium tax — Special provisions.
(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, underfunded plans under § 24-11-217, and then to general revenues.
(2)(A) For the 1999-2000 state fiscal year, six hundred thousand dollars ($600,000) of the fire portion of funds transferred to general revenues under this section and § 24-11-213 shall be transferred to the Fire Protection Premium Tax Fund.
(B) In all subsequent years fifty percent (50%) of the percentage increase in the amount allocated to general revenues under this section and § 24-11-213, using the dollar amount allocated in fiscal year 1999-2000 as the baseline, shall be transferred to the Fire Protection Premium Tax Fund in addition to the six hundred thousand dollars ($600,000) per year until the time that a cap of two million dollars ($2,000,000) annually is transferred to the Fire Protection Premium Tax Fund.
(C) Thereafter, the annual transfer shall be set at two million dollars ($2,000,000).
(c) After transfers are made to cover funds distributed under subsection (b) of this section and the portion of those premium taxes set aside for transfer to the State Police Retirement Fund under § 24-6-209(b), the Secretary of the Department of Finance and Administration is directed to make annual transfers from the police portion of the revenues to the Policemen's Pension Supplement Program Fund on or before July 25, 1999, and each year thereafter as certified by the Arkansas Fire and Police Pension Review Board on July 1 each year as the amount neede
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-11-215
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. The source passage cites 24-11-215. This identifies an authority to review, not proof of applicability.