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24-4-521. Credited service generally — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-521. Credited service generally — Definition.
(a) The Board of Trustees of the Arkansas Public Employees' Retirement System shall establish the amounts of service to be credited its members subject to the provisions of subsection (b) of this section.
(b)(1)(A)(i) Noncontributory employment service by a person who was:
(a) Employed prior to July 1, 1997, as a public safety member shall be credited at one and one-half (1½) times the regular rate for crediting service; and
(b) Employed on and after July 1, 1997, shall be credited at the regular rate for crediting service.
(ii) A person receiving credit for service under subdivision (b)(1)(A)(i)(a) or subdivision (b)(1)(A)(i)(b) of this section shall be required to have five (5) years of actual service to meet the:
(a) Retirement eligibility requirements under §§ 24-4-510 — 24-4-512 and 24-4-601; and
(b) Eligibility requirements for payment upon death benefits under § 24-4-608.
(B)(i) Noncontributory or contributory employment service by a person who qualifies as a public safety member under § 24-4-1004 shall be credited at one and one-half (1½) times the regular rate for crediting service.
(ii) A person receiving credit for service under subdivision (b)(1)(B)(i) of this section shall be required to have five (5) years of actual service to meet the:
(a) Retirement eligibility requirements under §§ 24-4-510 — 24-4-512 and 24-4-601; and
(b) Eligibility requirements of § 24-4-608.
(2)(A)(i) Noncontributory employment as the Governor by a person first elected to a public office covered by the Arkansas Public Employees' Retirement System prior to July 1, 1999, shall be credited as service at three (3) times the regular rate for credited service.
(ii) Noncontributory or contributory employment as
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-521
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:24-4-521
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f956ce93d3909f78ef5b59d321eedade9b6c6d58e62e889d704ba049d436a7d5
Source location: content.xml paragraph 2248
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24-4-521. Credited service generally — Definition.
(a) The Board of Trustees of the Arkansas Public Employees' Retirement System shall establish the amounts of service to be credited its members subject to the provisions of subsection (b) of this section.
(b)(1)(A)(i) Noncontributory employment service by a person who was:
(a) Employed prior to July 1, 1997, as a public safety member shall be credited at one and one-half (1½) times the regular rate for crediting service; and
(b) Employed on and after July 1, 1997, shall be credited at the regular rate for crediting service.
(ii) A person receiving credit for service under subdivision (b)(1)(A)(i)(a) or subdivision (b)(1)(A)(i)(b) of this section shall be required to have five (5) years of actual service to meet the:
(a) Retirement eligibility requirements under §§ 24-4-510 — 24-4-512 and 24-4-601; and
(b) Eligibility requirements for payment upon death benefits under § 24-4-608.
(B)(i) Noncontributory or contributory employment service by a person who qualifies as a public safety member under § 24-4-1004 shall be credited at one and one-half (1½) times the regular rate for crediting service.
(ii) A person receiving credit for service under subdivision (b)(1)(B)(i) of this section shall be required to have five (5) years of actual service to meet the:
(a) Retirement eligibility requirements under §§ 24-4-510 — 24-4-512 and 24-4-601; and
(b) Eligibility requirements of § 24-4-608.
(2)(A)(i) Noncontributory employment as the Governor by a person first elected to a public office covered by the Arkansas Public Employees' Retirement System prior to July 1, 1999, shall be credited as service at three (3) times the regular rate for credited service.
(ii) Noncontributory or contributory employment as the Governor by a person first elected to a public office covered by the system on or after July 1, 1999, shall be credited at the regular rate for crediting service.
(B) A person receiving credit for service under subdivision (b)(2)(A)(i) or subdivision (b)(2)(A)(ii) of this section shall be required to have:
(i) Four (4) years of actual service to meet the retirement eligibility requirements under §§ 24-4-510 — 24-4-512 and 24-4-601; and
(ii) Five (5) years of actual service to meet the eligibility requirements for payment upon death benefits under § 24-4-608.
(3)(A)(i) Noncontributory employment as an elected state constitutional officer by a person first elected to a public office covered by the system prior to July 1, 1999, shall be credited at two and one-half (2½) times the regular rate for crediting service.
(ii) Noncontributory or contributory employment as an elected state constitutional officer by a person first elected to a public office covered by the system on or after July 1, 1999, shall be credited at the regular rate for crediting service.
(B) A person receiving credit for service under subdivision (b)(3)(A)(i) or subdivision (b)(3)(A)(ii) of this section shall be required to have five (5) years of actual service to meet the:
(i) Retirement eligibility requirements under §§ 24-4-510 — 24-4-512 and 24-4-601; and
(ii) Eligibility requirements for payment of death benefits under § 24-4-608.
(4)(A)(i) Noncontributory or contributory employment as a member of the General Assembly shall be credited at the regular rate for crediting service.
(ii) A person receiving credit for service under subdivision (b)(4)(A)(i) of this section shall be required to have:
(a) Ten (10) years of credited service to meet the retirement eligibility requirements of §§ 24-4-510, 24-4-511, and 24-4-609;
(b) Five (5) years of actual service to meet the eligibility requirements for the payment upon death benefits under § 24-4-608; and
(c) Five (5) years of actual service to be eligible to purchase military service credit under § 24-2-502.
(B) A member of the General Assembly who at any time has served at least six (6) months in the General Assembly shall be credited with no more than one (1) year's actual service.
(5)(A) A person who is employed as an elected public official covered by the system and:
(i) Who has served in a noncontributory elected position covered by the system before July 1, 2011, shall be credited as service at two (2) times the regular rate for crediting service;
(ii) Who has never served in a noncontributory elected position covered by the system before July 1, 2011, shall be credited as service at two (2) times the regular rate for crediting service, and the employee shall contribute an additional two and one-half percent (2.5%) of the gross payroll, and the employer shall contribute an additional two and one-half percent (2.5%) of the gross payroll for the additional service that exceeds the regular rate of service; or
(iii) Who has never served in a contributory elected position covered by the system before January 1, 2014, shall be credited as service at two (2) times the regular rate for crediting service, and the employee shall contribute an additional two and one-half percent (2.5%) of the gross payroll, and the employer shall contribute an additional two and one-half percent (2.5%) of the gross payroll for the additional service that exceeds the regular rate of service.
(B) However, at least five (5) years of actual service shall be required to meet:
(i) The retirement eligibility requirements of §§ 24-4-510 — 24-4-512 and 24-4-601; and
(ii) The eligibility requirements of § 24-4-608.
(C) This subdivision (b)(5) does not apply to:
(i) The Governor;
(ii) An elected state constitutional officer;
(iii) A member of the General Assembly; or
(iv) An elected public official under the State Division of the Arkansas Public Employees' Retirement System.
(6)(A)(i) Noncontributory employment as an elected public official under the state division of the system other than the Governor, an elected state constitutional officer, or a member of the General Assembly by a person first elected to a public office covered by the Arkansas Public Employees' Retirement System prior to July 1, 1999, shall be credited as service at two (2) times the regular rate for crediting service.
(ii) A person receiving credit for service under subdivision (b)(6)(A)(i) of this section shall have five (5) years of actual service to meet the:
(a) Retirement eligibility requirements under §§ 24-4-510 — 24-4-512 and 24-4-601; and
(b) Eligibility requirements for payment upon death benefits under § 24-4-608.
(B) Noncontributory or contributory employment as an elected public official under the state division of the system other than the Governor, an elected state constitutional officer, or a member of the General Assembly by a person first elected to a public office covered by the system on or after July 1, 1999, shall be credited at the regular rate for crediting service.
(c) As used in this section, “elected state constitutional officer” means the Lieutenant Governor, Attorney General, Secretary of State, Auditor of State, Treasurer of State, and Commissioner of State Lands.
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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.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-512. Eligibility for benefits — Prior service credit for county members.
Any member of the County Division of the Arkansas Public Employees' Retirement System may, upon application and submission of proper proof to the Board of Trustees of the Arkansas Public Employees' Retirement System, receive credit for any service rendered a public employer, as defined in § 24-4-101, prior to July 1, 1959, subject to the following conditions:
(1) That he or she was employed by a county participating public employer on July 1, 1957; and
(2) That he or she was employed by a state department participating public employer on July 1, 1959.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-512
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 24-4-512. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-601. Straight life annuity generally.
(a)(1) Beginning July 1, 2001, any member who retires as provided in § 24-4-508 or §§ 24-4-510 — 24-4-512 shall receive a straight life annuity for each year of contributory service credit equal to two and seven-hundredths percent (2.07%) of the member's final average compensation multiplied by the number of years and fraction of a year of credited service rendered on or after July 1, 2001, with the Arkansas Public Employees' Retirement System.
(2) Beginning July 1, 2001, any member who retires as provided in § 24-4-508 or §§ 24-4-510 — 24-4-512 shall receive a straight life annuity for each year of contributory service credit equal to two and eleven-hundredths percent (2.11%) of the member's average compensation multiplied by the number of years and fraction of a year of credited service rendered before July 1, 2001, with the system.
(b)(1) For each year of noncontributory credited service in the system rendered prior to July 1, 2007, resulting from employment in a position covered at any time by Social Security or another federal retirement plan supported wholly or in part by employer contributions, a member shall receive one and seventy-five-hundredths percent (1.75%) of the member's final average compensation plus, for each year of noncontributory credited service in the system rendered prior to July 1, 2007, resulting from employment in a position never so covered, a member shall receive two and eleven-hundredths percent (2.11%) of the member's final average compensation.
(2) For each year of credited service in the system rendered after June 30, 2007, resulting from employment in a position covered at any time by Social Security or another federal retirement plan supported wholly or in part by employer contributio
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-601
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 24-4-601. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-608. Payment of benefits upon death of member before retirement — Exception.
(a) Effective July 1, 2001, if an active member or former member with five (5) or more years of actual service dies before retirement, the applicable benefits provided in this section shall be paid upon written application to the Board of Trustees of the Arkansas Public Employees' Retirement System.
(b) For purposes of computing benefits provided by this section, the deceased member's or former member's compensation at the time of death shall be the member's compensation for the year immediately preceding the cessation of his or her pay.
(c)(1) A member's or former member's surviving spouse who was married to the member at least six (6) months immediately preceding his or her death shall receive an annuity computed in the same manner in all respects as if the member or former member had:
(A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-4-601;
(B) Elected the Option B75 survivor annuity provided for in § 24-4-606(a)(4); and
(C) Nominated his or her spouse as joint beneficiary.
(2)(A) If the member or former member had satisfied the age and service requirements provided for in § 24-4-101 or had acquired twenty (20) years of actual service, the spouse annuity shall commence immediately and be payable for life. If the member or former member had not satisfied the age and service requirement provided for in § 24-4-101 or had not acquired twenty (20) years of actual service, then the spouse annuity shall commence immediately and be payable until the earlier of his or her remarriage or death.
(B) A surviving spouse who is otherwise eligible but whose benefit has been deferred because the spouse did not meet the age requirements in effect
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-608
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 24-4-608. This identifies an authority to review, not proof of applicability.