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24-4-304. Credited service — Cessation of employment — Reemployment.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-304. Credited service — Cessation of employment — Reemployment.
(a)(1)(A) When a member is no longer employed in a position covered by the Arkansas Public Employees' Retirement System, he or she shall thereupon cease to be a member.
(B) Except as otherwise provided in this chapter, upon termination of his or her membership, a member's credited service is forfeited.
(2) If the person is not a retirant and becomes reemployed in a position covered by the system, the person shall become a member of the system, and the person's credited service which did not require member contributions and then was forfeited by him or her at termination of covered employment shall be restored to his or her credit.
(b)(1) Upon a member's retirement, he or she shall cease to be a member.
(2) Except as provided otherwise in this chapter, he or she shall not again become a member.
(c) Should a former member entitled to a deferred annuity provided for in § 24-4-510 become employed in a position covered by the system before becoming a retirant, the member shall thereupon cease to be entitled to a deferred annuity and shall become a member with his or her last credited service reinstated.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-304
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:24-4-304
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2c00364d6e01db0e49e3aa9ec3a48f30163cf7e44499cba5f5f061a7fed1c5f5
Source location: content.xml paragraph 1860
Stored source content
24-4-304. Credited service — Cessation of employment — Reemployment.
(a)(1)(A) When a member is no longer employed in a position covered by the Arkansas Public Employees' Retirement System, he or she shall thereupon cease to be a member.
(B) Except as otherwise provided in this chapter, upon termination of his or her membership, a member's credited service is forfeited.
(2) If the person is not a retirant and becomes reemployed in a position covered by the system, the person shall become a member of the system, and the person's credited service which did not require member contributions and then was forfeited by him or her at termination of covered employment shall be restored to his or her credit.
(b)(1) Upon a member's retirement, he or she shall cease to be a member.
(2) Except as provided otherwise in this chapter, he or she shall not again become a member.
(c) Should a former member entitled to a deferred annuity provided for in § 24-4-510 become employed in a position covered by the system before becoming a retirant, the member shall thereupon cease to be entitled to a deferred annuity and shall become a member with his or her last credited service reinstated.
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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.