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24-2-303. Erroneous enrollment before January 1, 1979.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-303. Erroneous enrollment before January 1, 1979.
(a) Any employee who was erroneously enrolled in a state retirement system before January 1, 1979, and whose contributions have not been refunded prior to March 26, 1979, shall continue to be a member of the retirement system of record.
(b) The member shall receive service credit for all paid membership service in the retirement system, shall be entitled to any free service which was credited to the member prior to March 26, 1979, or which is creditable to the member under existing laws, and shall also be entitled to reciprocal service credits as provided by §§ 24-2-401 — 24-2-405 and 24-2-407.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-303
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:24-2-303
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 89f11eda5297f7f190dbe87598668d2f05dcfc03e1e82a788c83a97e88c6dc0e
Source location: content.xml paragraph 521
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24-2-303. Erroneous enrollment before January 1, 1979.
(a) Any employee who was erroneously enrolled in a state retirement system before January 1, 1979, and whose contributions have not been refunded prior to March 26, 1979, shall continue to be a member of the retirement system of record.
(b) The member shall receive service credit for all paid membership service in the retirement system, shall be entitled to any free service which was credited to the member prior to March 26, 1979, or which is creditable to the member under existing laws, and shall also be entitled to reciprocal service credits as provided by §§ 24-2-401 — 24-2-405 and 24-2-407.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-401. Definitions.
As used in this subchapter:
(1) “Deferred retirement option plan” means an option for retirement under a reciprocal system whereby the retirement system members, in lieu of terminating employment, can continue with employment with covered employers and can accept a service retirement benefit pursuant to deferred retirement option plan provisions in § 24-7-1301 et seq. for the Arkansas Teacher Retirement System or for any other deferred retirement option plan which might be created by, or authorized for creation by, law under a reciprocal system;
(2) “Public safety service covered by the Arkansas Public Employees' Retirement System” means service as a public safety member as defined in § 24-4-101(34);
(3) “Reciprocal system” means:
(A) The Arkansas Teacher Retirement System in operation June 30, 1957, and continued by §§ 24-7-202 — 24-7-205, 24-7-301 — 24-7-305, 24-7-401 — 24-7-411, 24-7-501, 24-7-502, 24-7-601 — 24-7-604, 24-7-606, 24-7-701, 24-7-702, 24-7-704 — 24-7-713, 24-7-715, and 24-7-716;
(B) The Arkansas State Highway Employees' Retirement System, established by § 24-5-103;
(C) The Arkansas Public Employees' Retirement System, established by § 24-4-103;
(D) The State Police Retirement System, established by § 24-6-203;
(E) The Arkansas Judicial Retirement System, established by § 24-8-201 et seq.;
(F) An alternate retirement plan for:
(i) A college, university, or the Division of Higher Education provided for under § 24-7-801 et seq.; or
(ii) A vocational-technical school or the Division of Career and Technical Education, the Adult Education Section, and the Office of Skills Development, provided for under § 24-7-901 et seq.; or
(G) The Arkansas Local Police and Fire Retirement System provided for under § 24-10-101
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-401
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 24-2-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-405. Disability benefits.
(a) A member of a reciprocal system with five (5) or more years of credited service in two (2) or more reciprocal systems shall be eligible to apply for disability benefits from each reciprocal system in which he or she has credited service.
(b) Each reciprocal system shall make the determination under its respective rules as to whether the member is eligible for disability benefits.
(c) The member shall be eligible for a refund of his or her accumulated contributions plus interest, if any, from any reciprocal system in which he or she does not qualify for disability benefits. This refund shall not alter his or her eligibility for benefits from any other reciprocal system.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-405
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 24-2-405. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-407. Benefit enhancements — Restrictions.
(a) No benefit enhancement provided for by this subchapter 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 for by this subchapter shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by § 24-1-101 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-407
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 24-2-407. This identifies an authority to review, not proof of applicability.