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24-4-804. Cessation of participation — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-804. Cessation of participation — Definition.
(a) The member's participation in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan shall cease at the time the member separates from service.
(b)(1)(A) When the member's participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or as a monthly benefit paid in the form elected by the member for payment of the deferred retirement benefit.
(B) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine factors to be used for the conversion of deferred option account balances to monthly amounts.
(2) Furthermore, when the member's participation in the plan ceases, the board shall cause the member's annuity benefit to be paid directly to the member in the form of regular monthly amounts in the same amount and manner as would have been the case if the member had retired on the deferred retirement option date and had made the same election pursuant to § 24-4-606 that was made on or before the deferred retirement option date.
(c)(1) When a member's participation in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan ceases, the member shall separate from service as provided in § 24-4-520 unless the separation period would prevent a popularly elected official from taking or holding office.
(2)(A)(i) This section does not apply to a member who was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board, and who is a participant in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan who may be eligible for reemployment after satisfying the separation requirements of
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-804
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:24-4-804
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: de751bbee02e46fc0c14f0478b78d9b5988032c104a1568335e4e4b8274ab4d6
Source location: content.xml paragraph 3187
Stored source content
24-4-804. Cessation of participation — Definition.
(a) The member's participation in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan shall cease at the time the member separates from service.
(b)(1)(A) When the member's participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or as a monthly benefit paid in the form elected by the member for payment of the deferred retirement benefit.
(B) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine factors to be used for the conversion of deferred option account balances to monthly amounts.
(2) Furthermore, when the member's participation in the plan ceases, the board shall cause the member's annuity benefit to be paid directly to the member in the form of regular monthly amounts in the same amount and manner as would have been the case if the member had retired on the deferred retirement option date and had made the same election pursuant to § 24-4-606 that was made on or before the deferred retirement option date.
(c)(1) When a member's participation in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan ceases, the member shall separate from service as provided in § 24-4-520 unless the separation period would prevent a popularly elected official from taking or holding office.
(2)(A)(i) This section does not apply to a member who was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board, and who is a participant in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan who may be eligible for reemployment after satisfying the separation requirements of § 24-4-520(b) as an essential seasonal staff member with the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.
(ii) This section does not apply to a member who was an employee of the Department of Agriculture on or after July 1, 2019, and who is a participant in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan who may be eligible for reemployment after satisfying the separation requirements of § 24-4-520(b) as an essential seasonal staff member with the department.
(B) As used in subdivision (c)(2)(A) of this section, “essential seasonal staff member” means an employee of the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board who:
(i) Has specialized knowledge, skill, or training pertaining to necessary duties or tasks to be completed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board in times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; and
(ii) Is employed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board on a part-time basis:
(a) During times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; or
(b) As an instructor to train other staff for times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-520. Termination required for retirement.
(a) Except as provided in subsection (c) of this section, a member of the Arkansas Public Employees' Retirement System shall terminate covered employment to be eligible for retirement.
(b)(1) A member shall not be terminated from employment for retirement purposes if the person:
(A) Returns to employment in a position covered under the system within one hundred eighty (180) days of the person's effective date of retirement; or
(B) Is a member with service credit under § 24-4-521 at a rate of two (2) or more years of credited service for each year of actual service and the person returns to employment in a position covered under the system within one (1) year of the person's effective date of retirement.
(2) A member participating in the Arkansas Public Employees’ Retirement System Deferred Retirement Option Plan on January 1, 2009, shall have the one-hundred-eighty-day separation requirement waived and may return to employment otherwise covered by the system no sooner than thirty (30) calendar days from the commencement of his or her retirement.
(3) A member who has retired and commenced receiving benefits in any month between January 2009 and June 2009, inclusive, shall have the one-hundred-eighty-day separation requirement waived and may return to employment otherwise covered by the system no sooner than thirty (30) calendar days from the commencement of his or her retirement.
(c)(1) An elected public official may retire and begin receiving retirement benefits if the elected public official is a member:
(A) Whose current service in public office in one (1) form of government is covered by § 24-4-521(b)(5); and
(B) Who is elected to public office in a different form of government and will begin serving in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-520
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 24-4-520. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-606. Annuity options.
(a) Before the date the first payment of a member's annuity becomes due, but not thereafter, a member may elect to receive his or her annuity as a straight life annuity or may elect to have his or her annuity reduced and nominate a beneficiary in accordance with the provisions of one (1) of the following options:
(1) Option A60 — 60 Months Certain and Life Annuity.
(A) Under Option A60, the retirant shall be paid a reduced annuity for life with the provision that if the retirant's death occurs before sixty (60) monthly payments have been made, the full reduced annuity shall continue to be paid for the remainder of the sixty (60) months to such persons and in such shares as the retirant shall have designated in writing and filed with the plan. If there is no payee surviving, the lump-sum actuarial equivalent of the remaining monthly payments shall be paid to the estate of the last survivor among the retirant and the designated persons.
(B) The reduced annuity shall be ninety-eight percent (98%) of the straight life annuity;
(2) Option A120 — 120 Months Certain and Life Annuity.
(A) Under Option A120, the retirant shall be paid a reduced annuity for life with the provision that if the retirant's death occurs before one hundred twenty (120) monthly payments have been made, the full reduced annuity shall continue to be paid for the remainder of the one hundred twenty (120) months to such persons and in such shares as the retirant shall have designated in writing and filed with the plan. If there is no payee surviving, the lump sum actuarial equivalent of the remaining monthly payments shall be paid to the estate of the last survivor among the retirant and the designated persons.
(B) The reduced annuity shall be ninety-four percent (9
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-606
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 24-4-606. This identifies an authority to review, not proof of applicability.