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24-4-752. State Police Trust Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-752. State Police Trust Fund.
(a) All assets of the State Police Retirement System are transferred to the Arkansas Public Employees' Retirement System to hold in trust for the State Police Retirement System.
(b) There is created under the Arkansas Public Employees' Retirement System a division that shall be known as the “State Police Trust Fund”.
(c)(1) The State Police Trust Fund shall not be treated as segregated funds but shall be commingled with the assets of the Arkansas Public Employees' Retirement System strictly for investment purposes.
(2) The assets shall be managed solely for the benefit of the retirees and beneficiaries of the State Police Retirement System and shall not be divested from the Arkansas Public Employees' Retirement System unless it can clearly be demonstrated it would be actuarially and fiscally prudent to do so.
(d)(1) As employer, the Department of Arkansas State Police shall make contributions to the State Police Trust Fund based on a percentage of each active state police officer's salary at the rate established to fund the State Police Retirement System's benefit program before July 1, 2009.
(2) All other sources of revenue commonly accruing to the State Police Retirement System shall be payable to the State Police Trust Fund.
(e) The Board of Trustees of the State Police Retirement System, the Board of Trustees of the Arkansas Public Employees’ Retirement System, and administrative staff shall be immune from any suit or action based in whole or in part on the transfer of assets contemplated by this act.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-752
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:24-4-752
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 084a68f818758d697f460d3d31319d043c0e60f3ef359264316bcaf18c7c1e82
Source location: content.xml paragraph 3108
Stored source content
24-4-752. State Police Trust Fund.
(a) All assets of the State Police Retirement System are transferred to the Arkansas Public Employees' Retirement System to hold in trust for the State Police Retirement System.
(b) There is created under the Arkansas Public Employees' Retirement System a division that shall be known as the “State Police Trust Fund”.
(c)(1) The State Police Trust Fund shall not be treated as segregated funds but shall be commingled with the assets of the Arkansas Public Employees' Retirement System strictly for investment purposes.
(2) The assets shall be managed solely for the benefit of the retirees and beneficiaries of the State Police Retirement System and shall not be divested from the Arkansas Public Employees' Retirement System unless it can clearly be demonstrated it would be actuarially and fiscally prudent to do so.
(d)(1) As employer, the Department of Arkansas State Police shall make contributions to the State Police Trust Fund based on a percentage of each active state police officer's salary at the rate established to fund the State Police Retirement System's benefit program before July 1, 2009.
(2) All other sources of revenue commonly accruing to the State Police Retirement System shall be payable to the State Police Trust Fund.
(e) The Board of Trustees of the State Police Retirement System, the Board of Trustees of the Arkansas Public Employees’ Retirement System, and administrative staff shall be immune from any suit or action based in whole or in part on the transfer of assets contemplated by this act.
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