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24-4-1105. Deferred and early annuities.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-1105. Deferred and early annuities.
(a) Any member or former member with sufficient years of actual service to qualify for a vested termination annuity who has not attained normal retirement age may retire with an early annuity provided in § 24-4-510(a).
(b) In the event a member with five (5) or more years of actual service in the Arkansas Public Employees' Retirement System ceases employment as a covered member before reaching sixty-five (65) years of age or attaining twenty-eight (28) years of service and does not withdraw his or her accumulated employee contributions to the system, the member is entitled to receive an annuity upon attainment of sixty-five (65) years of age and submission of a retirement application to the system.
(c) If a former member has applied for a refund of contributions but returns to employment with a participating public employer prior to the date the refunded contributions are received, the request is void and employment must be terminated again to request a refund of contributions.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-1105
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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Record provenance
Stable record: arkansas_code:legal_authorities:24-4-1105
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 37d2fa8b39604b94f53961fd71921c01b4c6ea93567e5caf54b61561d83b680d
Source location: content.xml paragraph 3397
Stored source content
24-4-1105. Deferred and early annuities.
(a) Any member or former member with sufficient years of actual service to qualify for a vested termination annuity who has not attained normal retirement age may retire with an early annuity provided in § 24-4-510(a).
(b) In the event a member with five (5) or more years of actual service in the Arkansas Public Employees' Retirement System ceases employment as a covered member before reaching sixty-five (65) years of age or attaining twenty-eight (28) years of service and does not withdraw his or her accumulated employee contributions to the system, the member is entitled to receive an annuity upon attainment of sixty-five (65) years of age and submission of a retirement application to the system.
(c) If a former member has applied for a refund of contributions but returns to employment with a participating public employer prior to the date the refunded contributions are received, the request is void and employment must be terminated again to request a refund of contributions.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-510. Eligibility for benefits — Deferred and early annuities.
(a)(1)(A) Any member or former member with sufficient years of actual service to qualify for a vested termination annuity who has not attained his or her normal retirement age may retire with an early annuity provided for in subsection (b) of this section upon his or her written application to the plan setting forth at what time, not less than thirty (30) days nor more than ninety (90) days subsequent to the execution and filing of his or her application, he or she desires to be retired.
(B) The member or former member eligible for a vested termination annuity must have at least five (5) years of actual service and be within ten (10) years of normal retirement age, except for members of the General Assembly who must have at least ten (10) years of actual service and be within ten (10) years of normal retirement age.
(2)(A) Upon early retirement, a member shall receive a certain percentage of an annuity for life provided for in § 24-4-601. The percentage shall be one hundred percent (100%) reduced by one-half of one percent (0.5%) multiplied by the number of months by which the member's age at early retirement is younger than his or her normal retirement age, using what his or her normal retirement age would have been under the provisions of § 24-4-508 if he or she had continued covered employment from the time of early retirement.
(B)(i) However, if the member or former member has at least twenty-five (25) years of actual service but less than twenty-eight (28) years of actual service and has not reached age sixty-five (65), then upon early retirement the member shall receive a percentage of a life annuity as provided in § 24-4-601. The percentage shall be one hundred percent (100%) reduced by on
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-510
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. The source passage cites 24-4-510. This identifies an authority to review, not proof of applicability.