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24-4-901. Credited service — Reciprocity.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-4-901. Credited service — Reciprocity.
(a)(1) Upon the retirement of a member whose credited service results from employment covered by:
(A) The Arkansas Public Employees' Retirement System;
(B) The State Police Retirement System;
(C) The Arkansas Teacher Retirement System;
(D) The Arkansas State Highway Employees' Retirement System;
(E) The Arkansas Judicial Retirement System;
(F) An alternate retirement plan under § 24-8-101 et seq. or § 24-9-201 et seq.; or
(G) The Arkansas Local Police and Fire Retirement System,
the amount of the member's annuity shall be based upon his or her total credited service in force at the time of the member's retirement, exclusive of any minimums.
(2) Each retirement system shall be responsible financially for only that portion of the annuity based upon the credited service in the plan or system.
(3)(A) The final average compensation on which benefits shall be determined shall be based on the period of total credited service for:
(i) The Arkansas Public Employees' Retirement System;
(ii) The State Police Retirement System;
(iii) The Arkansas Teacher Retirement System;
(iv) The Arkansas State Highway Employees' Retirement System; and
(v) The Arkansas Local Police and Fire Retirement System,
with each plan or system computing the final average compensation by the method as determined by its laws.
(B) Compensation for credited service in the Arkansas Judicial Retirement System or an alternate retirement plan under § 24-8-101 et seq. or § 24-9-201 et seq. shall not be used to determine final average compensation.
(4) The final average compensation for persons receiving benefits from the Arkansas State Highway Employees' Retirement System shall be based on the final average compensation at the date of ter
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-901
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:24-4-901
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c6a62a70fc395014fd565157c23e0615971ea15440ada23eac51e6653ec450d5
Source location: content.xml paragraph 3231
Stored source content
24-4-901. Credited service — Reciprocity.
(a)(1) Upon the retirement of a member whose credited service results from employment covered by:
(A) The Arkansas Public Employees' Retirement System;
(B) The State Police Retirement System;
(C) The Arkansas Teacher Retirement System;
(D) The Arkansas State Highway Employees' Retirement System;
(E) The Arkansas Judicial Retirement System;
(F) An alternate retirement plan under § 24-8-101 et seq. or § 24-9-201 et seq.; or
(G) The Arkansas Local Police and Fire Retirement System,
the amount of the member's annuity shall be based upon his or her total credited service in force at the time of the member's retirement, exclusive of any minimums.
(2) Each retirement system shall be responsible financially for only that portion of the annuity based upon the credited service in the plan or system.
(3)(A) The final average compensation on which benefits shall be determined shall be based on the period of total credited service for:
(i) The Arkansas Public Employees' Retirement System;
(ii) The State Police Retirement System;
(iii) The Arkansas Teacher Retirement System;
(iv) The Arkansas State Highway Employees' Retirement System; and
(v) The Arkansas Local Police and Fire Retirement System,
with each plan or system computing the final average compensation by the method as determined by its laws.
(B) Compensation for credited service in the Arkansas Judicial Retirement System or an alternate retirement plan under § 24-8-101 et seq. or § 24-9-201 et seq. shall not be used to determine final average compensation.
(4) The final average compensation for persons receiving benefits from the Arkansas State Highway Employees' Retirement System shall be based on the final average compensation at the date of termination of employment covered by that system.
(5) The benefit program to be applied to each portion of credited service shall be the benefit program in effect in each plan or system at the time of retirement.
(b)(1) Upon the retirement on disability or death in service of a member of either:
(A) The Arkansas Public Employees' Retirement System;
(B) The Arkansas Teacher Retirement System;
(C) The Arkansas State Highway Employees' Retirement System;
(D) The Arkansas Judicial Retirement System;
(E) The State Police Retirement System;
(F) An alternate retirement plan under § 24-8-101 et seq. or § 24-9-201 et seq.; or
(G) The Arkansas Local Police and Fire Retirement System,
who has credited service in more than one (1) of the plans, an annuity shall be payable based upon the member's total credited service with all systems in force at the time of retirement, with each system being responsible for the payment of such disability or death-in-service benefits as are provided by the applicable provisions of each system's laws or plan's provisions.
(2) If the greatest benefit payable to a survivor is a minimum percentage of the deceased member's final pay or a minimum dollar amount, then each reciprocal system that has a minimum benefit provision in its plan shall only pay a proportionate share of the minimum amount based on the ratio of service in the system to the total service in all reciprocal systems.
(3) A member who dies in service while a member of one (1) reciprocal system shall be considered as currently employed by all systems in which the member has credited service at the time of death.
(4) If a member has service credit in an alternate retirement plan under § 24-8-101 et seq. or § 24-9-201 et seq., disability and death-in-service benefits shall be contingent on provision of those benefits having been provided by the alternate retirement plan and having been selected by the member as a benefit.
(c) Any person retiring on or after July 1, 1982, with credited service in more than one (1) reciprocal system shall have his or her benefits recomputed based on the provisions of this section.
(d) It is the intent of this section to provide reciprocal service credits, as provided by §§ 24-2-401 — 24-2-405, between contributory and noncontributory members of:
(1) The Arkansas Public Employees' Retirement System;
(2) The Arkansas Teacher Retirement System;
(3) The Arkansas Judicial Retirement System;
(4) The Arkansas State Highway Employees' Retirement System;
(5) The State Police Retirement System;
(6) An alternate retirement plan for a college, university, or the Division of Higher Education provided for under § 24-8-101 et seq. or for a vocational-technical school or the Division of Career and Technical Education, the Adult Education Section, and the Office of Skills Development, provided for under § 24-9-201 et seq.; and
(7) The Arkansas Local Police and Fire Retirement System.
(e) A member of the Arkansas Public Employees' Retirement System who is receiving a retirement annuity from another reciprocal system as defined in subsection (d) of this section shall not be eligible to use the reciprocal provisions of this section or the reciprocal provisions of §§ 24-2-401 — 24-2-405 to determine the benefit payable by the Arkansas Public Employees' Retirement System.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-401. Definitions.
As used in this subchapter:
(1) “Deferred retirement option plan” means an option for retirement under a reciprocal system whereby the retirement system members, in lieu of terminating employment, can continue with employment with covered employers and can accept a service retirement benefit pursuant to deferred retirement option plan provisions in § 24-7-1301 et seq. for the Arkansas Teacher Retirement System or for any other deferred retirement option plan which might be created by, or authorized for creation by, law under a reciprocal system;
(2) “Public safety service covered by the Arkansas Public Employees' Retirement System” means service as a public safety member as defined in § 24-4-101(34);
(3) “Reciprocal system” means:
(A) The Arkansas Teacher Retirement System in operation June 30, 1957, and continued by §§ 24-7-202 — 24-7-205, 24-7-301 — 24-7-305, 24-7-401 — 24-7-411, 24-7-501, 24-7-502, 24-7-601 — 24-7-604, 24-7-606, 24-7-701, 24-7-702, 24-7-704 — 24-7-713, 24-7-715, and 24-7-716;
(B) The Arkansas State Highway Employees' Retirement System, established by § 24-5-103;
(C) The Arkansas Public Employees' Retirement System, established by § 24-4-103;
(D) The State Police Retirement System, established by § 24-6-203;
(E) The Arkansas Judicial Retirement System, established by § 24-8-201 et seq.;
(F) An alternate retirement plan for:
(i) A college, university, or the Division of Higher Education provided for under § 24-7-801 et seq.; or
(ii) A vocational-technical school or the Division of Career and Technical Education, the Adult Education Section, and the Office of Skills Development, provided for under § 24-7-901 et seq.; or
(G) The Arkansas Local Police and Fire Retirement System provided for under § 24-10-101
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-401
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 24-2-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-405. Disability benefits.
(a) A member of a reciprocal system with five (5) or more years of credited service in two (2) or more reciprocal systems shall be eligible to apply for disability benefits from each reciprocal system in which he or she has credited service.
(b) Each reciprocal system shall make the determination under its respective rules as to whether the member is eligible for disability benefits.
(c) The member shall be eligible for a refund of his or her accumulated contributions plus interest, if any, from any reciprocal system in which he or she does not qualify for disability benefits. This refund shall not alter his or her eligibility for benefits from any other reciprocal system.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-405
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 24-2-405. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-101. Previously retired justice.
(a) Any judge or justice under the age of seventy (70) who is receiving retirement benefits under § 24-8-201 et seq. or § 24-8-701 et seq., who is elected or appointed to any judicial office in this state, and who foregoes receipt of retirement benefits while serving in the judicial office shall be entitled to resume receiving his or her previous retirement benefits upon termination of the subsequent service.
(b) If at the time of the initial retirement the judge or justice was entitled to the benefits of the escalator clause provided in § 24-8-218(c)(1) or postretirement benefits provided in § 24-8-223 or § 24-8-717, the judge or justice and the judge's or justice's survivors shall again be entitled to the benefits upon the termination of any such subsequent judicial service.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-101
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 24-8-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-9-201. Legislative intent.
Authorized investments of moneys by the governing bodies of the various trust funds within this state are now provided by law. It is not the intent of this subchapter to change or prescribe the allowable investments in certificates of deposit, registered securities, or negotiable securities.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-9-201
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 24-9-201. This identifies an authority to review, not proof of applicability.