24-2-408. Concurrence prohibited.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-2-408. Concurrence prohibited. In establishing credited service under this subchapter, persons who receive credited service pursuant to § 24-4-101(17)(B)(xiii) for dual full-time employment in the Arkansas Public Employees' Retirement System and the Arkansas Local Police and Fire Retirement System under the provisions of this act may count periods of credited service covering the same calendar time only once (1) time.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-408

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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Arkansas Code — all titles (historical 2020) · legal_authorities

24-4-101. Definitions.

24-4-101. Definitions. As used in this act: (1) “Accumulated contributions” means the sum of all amounts deducted from the compensations of a member and credited to his or her individual account in the member's deposit account, together with regular interest as may have been credited thereon; (2) “Actual service” means service credited at the rate of one (1) month for each month of service; (3) “Actuarial equivalent” means a benefit of equal reserve value when “reserve” means the present value of all payments to be made on account of any benefit based upon such reasonable rates of interest and tables of experience as a plan shall adopt from time to time; (4) “Actuary” means a qualified actuary with experience in retirement plan financing. Membership in the American Academy of Actuaries shall be sufficient for a person to be deemed a qualified actuary; (5) “Age” means age on last birthday; (6)(A) “Annuity” means a monthly amount payable from funds of the Arkansas Public Employees' Retirement System throughout the life of a person. (B) All annuities shall be paid in equal monthly installments; (7) “Annuity reserve” means the present value of an annuity computed upon the basis of mortality and other such tables of experience and regular interest, as the Board of Trustees of the Arkansas Public Employees' Retirement System shall adopt; (8) “Beneficiary” means any person except a retirant who is receiving or is designated by a member to receive a plan benefit; (9) “Benefit program” means a schedule of benefits or benefit formulas from which the amounts of benefits can be determined; (10) “Board” means the Board of Trustees of the Arkansas Public Employees' Retirement System, as created in this act; (11)(A) “Compensation” means the recurring remunerat

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-101

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 24-4-101. This identifies an authority to review, not proof of applicability.