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24-5-134. Death benefit enhancement.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-5-134. Death benefit enhancement.
(a)(1) Beginning on March 1, 2001, the Arkansas State Highway Employees' Retirement System shall pay an amount not to exceed seven thousand five hundred dollars ($7,500) to the named beneficiary of the retiree or a member in the Arkansas State Highway Employees' Deferred Retirement Option Plan immediately following the retiree's death.
(2) If there is more than one (1) named beneficiary, the amount shall be divided equally between the named beneficiaries.
(3) If there are no designated persons surviving the retiree or plan member, the lump sum shall be paid to the estate.
(b) If a retiree or a plan member is entitled to a similar benefit from a reciprocal system, then the Arkansas State Highway Employees' Retirement System shall pay a prorated share based on the number of years in the Arkansas State Highway Employees' Retirement System divided by the total public service time.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-5-134
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:24-5-134
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4fc56f69f915a50860c00e31e5f2ad3258b0501dc0f5de4126f75e92c44b07da
Source location: content.xml paragraph 4036
Stored source content
24-5-134. Death benefit enhancement.
(a)(1) Beginning on March 1, 2001, the Arkansas State Highway Employees' Retirement System shall pay an amount not to exceed seven thousand five hundred dollars ($7,500) to the named beneficiary of the retiree or a member in the Arkansas State Highway Employees' Deferred Retirement Option Plan immediately following the retiree's death.
(2) If there is more than one (1) named beneficiary, the amount shall be divided equally between the named beneficiaries.
(3) If there are no designated persons surviving the retiree or plan member, the lump sum shall be paid to the estate.
(b) If a retiree or a plan member is entitled to a similar benefit from a reciprocal system, then the Arkansas State Highway Employees' Retirement System shall pay a prorated share based on the number of years in the Arkansas State Highway Employees' Retirement System divided by the total public service time.
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