Browse Arkansas Code titles and sections
24-4-1102. Member contributions.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-1102. Member contributions.
(a)(1) The contributions of a member shall be five percent (5%) of the member's annual compensation and shall be placed in the member's deposit account as provided in § 24-4-401.
(2) Interest shall be paid on accumulated member contributions at the rate of two percent (2%) per annum.
(3) As used in this subsection, “compensation” has the same meaning as in § 24-4-101.
(b)(1) For purposes of deferring federal and state income tax under 26 U.S.C. § 414(h)(2), as adopted by § 26-51-414, the employer shall pick up the member's contributions to the Arkansas Public Employees' Retirement System required by this section payable on or after July 1, 2005.
(2)(A) Member contributions picked up by the employer shall be paid from the same source of funds used for the payment of salary to a member.
(B) The employer shall be solely responsible for remitting member contributions to the system in a manner consistent with § 24-4-202, including without limitation compliance with deadlines and penalties.
(C) A deduction shall be made from each member's salary equal to the amount of the member's contribution picked up by the employer.
(D) For all other purposes, member contributions picked up by the employer shall be considered member contributions.
(c) Upon termination of covered service, a former member may request a refund of the former member's accumulated contributions under § 24-4-603, except that interest will be credited on all balances for service through the last completed fiscal year as provided in § 24-4-209(a).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-1102
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:24-4-1102
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 06330eb244c7788a20858fb1d4aac850b5c1f92cda68e6e88bc07d554c232be4
Source location: content.xml paragraph 3355
Stored source content
24-4-1102. Member contributions.
(a)(1) The contributions of a member shall be five percent (5%) of the member's annual compensation and shall be placed in the member's deposit account as provided in § 24-4-401.
(2) Interest shall be paid on accumulated member contributions at the rate of two percent (2%) per annum.
(3) As used in this subsection, “compensation” has the same meaning as in § 24-4-101.
(b)(1) For purposes of deferring federal and state income tax under 26 U.S.C. § 414(h)(2), as adopted by § 26-51-414, the employer shall pick up the member's contributions to the Arkansas Public Employees' Retirement System required by this section payable on or after July 1, 2005.
(2)(A) Member contributions picked up by the employer shall be paid from the same source of funds used for the payment of salary to a member.
(B) The employer shall be solely responsible for remitting member contributions to the system in a manner consistent with § 24-4-202, including without limitation compliance with deadlines and penalties.
(C) A deduction shall be made from each member's salary equal to the amount of the member's contribution picked up by the employer.
(D) For all other purposes, member contributions picked up by the employer shall be considered member contributions.
(c) Upon termination of covered service, a former member may request a refund of the former member's accumulated contributions under § 24-4-603, except that interest will be credited on all balances for service through the last completed fiscal year as provided in § 24-4-209(a).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Service for predecessor employer** For purposes of this part—
(1) in any case in which the employer maintains a plan of a predecessor employer, service for such predecessor shall be treated as service for the employer, and
(2) in any case in which the employer maintains a plan which is not the plan maintained by a predecessor employer, service for such predecessor shall, to the extent provided in regulations prescribed by the Secretary, be treated as service for the employer.
**(b) Employees of controlled group of corporations**
(1) **In general** — For purposes of sections 401, 408(k), 408(p), 410, 411, 415, and 416, all employees of all corporations which are members of a controlled group of corporations (within the meaning of section 1563(a), determined without regard to section 1563(a)(4) and (e)(3)(C)) shall be treated as employed by a single employer. With respect to a plan adopted by more than one such corporation, the applicable limitations provided by section 404(a) shall be determined as if all such employers were a single employer, and allocated to each employer in accordance with regulations prescribed by the Secretary.
(2) **Special rules for applying family attribution** — For purposes of applying the attribution rules under section 1563 with respect to paragraph (1), the following rules apply:
(A) Community property laws shall be disregarded for purposes of determining ownership.
(B) Except as provided by the Secretary, stock of an individual not attributed under section 1563(e)(5) to such individual’s spouse shall not be attributed to such spouse by reason of the combined application of paragraphs (1) and (6)(A) of section 1563(e).
(C) Except as provided by the Secretary, in the case of stock in different corporations that is attribut
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 414
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 414. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1394
TITLE 26—INTERNAL REVENUE CODE
§ 414
model plan language similar to model plan language
published under section 413(e)(5) of such Code.
‘‘(3) EDUCATIONAL
OUTREACH
TO
EMPLOYERS
EXEMPT
FROM TAX.—The Secretary of the Treasury (or the Sec-
retary’s delegate), in consultation with the Secretary
of Labor, shall provide education and outreach to in-
crease awareness to employers described in section
501(c)(3) of the Internal Revenue Code of 1986, and which
are exempt from tax under section 501(a) of such Code,
that multiple employer plans are subject to the Em-
ployee Retirement Income Security Act of 1974 and
that such employer is a plan sponsor with respect to its
employees participating in the multiple employer plan
and, as such, has certain fiduciary duties with respect
to the plan and to its employees.’’
§ 414. Definitions and special rules
(a) Service for predecessor employer
For purposes of this part—
(1) in any case in which the employer main-
tains a plan of a predecessor employer, service
for such predecessor shall be treated as service
for the employer, and
(2) in any case in which the employer main-
tains a plan which is not the plan maintained
by a predecessor employer, service for such
predecessor shall, to the extent provided in
regulations prescribed by the Secretary, be
treated as service for the employer.
(b) Employees of controlled group of corpora-
tions
(1) In general
For purposes of sections 401, 408(k), 408(p),
410, 411, 415, and 416, all employees of all cor-
porations which are members of a controlled
group of corporations (within the meaning of
section 1563(a), determined without regard to
section 1563(a)(4) and (e)(3)(C)) shall be treated
as employed by a single employer. With re-
spect to a plan adopted by more
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 414
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 414. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
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.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-202. Arkansas Public Employees' Retirement System Fund — Contributions.
(a)(1) On or after July 1, 2017, the state employer contributions made by a state agency which employs each member provided for in § 24-2-701 shall be:
(A) Reported electronically by the state agency through the Arkansas Public Employees' Retirement System portal; and
(B) Paid by electronic transfer by the state agency.
(2) The employer's contribution shall be paid to the Arkansas Public Employees' Retirement System Fund at the time and with the frequency established by the Board of Trustees of the Arkansas Public Employees' Retirement System and shall be paid concurrently with the contributions made by its employees to the Arkansas Public Employees' Retirement System Fund.
(b)(1) In the case of employees receiving part or all of their compensation from federal funds, the disbursing officer of the agency receiving the federal funds shall transmit such sums to the Arkansas Public Employees' Retirement System Fund from federal funds of the agency.
(2) These sums shall be those sums of money which are necessary to provide the employer contributions provided for in § 24-2-701, based on the portions of the employees' compensation payable from federal funds.
(c)(1) In the case of the Local Government Division of the Arkansas Public Employees' Retirement System, each participating public employer shall pay into the Arkansas Public Employees' Retirement System Fund such sums of money as are necessary to provide the participating public employer's contributions provided for in § 24-2-701.
(2)(A) The participating public employer's contributions shall be paid at the time and with the frequency established by the board and shall be paid concurrently with the contributions made by its emplo
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-202
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 24-4-202. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-401. Contributions of members.
(a)(1) The members' deposit account shall be the account in which members' contributions shall be accumulated with interest as stipulated by § 24-4-209(a) and from which shall be made transfers and refunds of contributions or accumulated contributions as provided in this act.
(2) Upon the retirement of a member, his or her accumulated contributions standing to his or her credit in the members' deposit account shall be transferred to the retirement reserve account.
(b)(1)(A) Until July 1, 2005, the contributions of a contributory member shall be six percent (6%) of the member's annual compensation.
(B) Beginning July 1, 2005, the contribution rate shall be five percent (5%) of the member's annual compensation for a contributory member.
(C) The member's deposit account shall be credited interest at a rate of four percent (4%) per annum beginning July 1, 2005.
(2) The officer responsible for making up the payroll for each public employer shall cause the contributions provided for in this section to be deducted from the compensation of each member in the employ of a public employer.
(3) The contributions shall be deducted on every payroll, for every payroll period, from the date of the member's entrance into the Arkansas Public Employees' Retirement System to the date his or her membership terminates.
(4) When deducted, each of the amounts shall be paid by the public employer to the Arkansas Public Employees' Retirement System Fund and shall be credited to the individual account in the members' deposit account of the member from whose compensation the contributions were deducted.
(5) The contributions provided for in this section shall be made notwithstanding that the minimum salary or wages for any member shall be there
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-401
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 24-4-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-414. Deferred compensation plans.
(a)(1) The following sections relating to annuities, retirement savings, and employee benefit plans are adopted for the purpose of computing Arkansas income tax liability, except Arkansas capital gains treatment and the Arkansas tax rates shall apply:
(A) Title 26 U.S.C. §§ 72, 219, 402 — 404, 406 — 416, and 457, as in effect on January 1, 2017; and
(B) Title 26 U.S.C. § 401, as in effect on March 30, 2010.
(2) The requirements for filing a joint return under 26 U.S.C. § 219(c)(1)(A) shall not apply.
(b) Title 26 U.S.C. § 408A as in effect on January 1, 2010, relating to Roth individual retirement accounts, is adopted for the purpose of computing Arkansas income tax liability, except with regard to adjusted gross income under 26 U.S.C. § 408A(c)(3), which shall be determined in the same manner as under § 26-51-403(b).
(c) Any additional tax or penalty imposed by this section shall be ten percent (10%) of the amount of any additional tax or penalty provided in the federal income tax law adopted by this section.
(d) Title 26 U.S.C. § 1042, as in effect on January 1, 2003, regarding the deferral of gain realized on the sale of a corporation's shares of stock to the corporation's employee stock ownership plan (ESOP), is adopted for the purpose of computing Arkansas income tax liability.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-414
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 26-51-414. This identifies an authority to review, not proof of applicability.