Browse Arkansas Code titles and sections
24-5-135. Annuity benefit enhancement.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-5-135. Annuity benefit enhancement.
(a) Beginning July 1, 2001, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 2001 shall be increased by four and eight-tenths percent (4.8%) above the annuity the retiree or beneficiary received for June 2001.
(b) The increase in benefits as provided in this section shall be added to the annuity for the purpose of computing the annual postretirement increase as provided in § 24-5-119(a) for the benefit redetermination July 1, 2001.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-5-135
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:24-5-135
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 909311d6c01fb2f6613256bf9023e47451037cfdaadd1427ca039b608b3b6680
Source location: content.xml paragraph 4047
Stored source content
24-5-135. Annuity benefit enhancement.
(a) Beginning July 1, 2001, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 2001 shall be increased by four and eight-tenths percent (4.8%) above the annuity the retiree or beneficiary received for June 2001.
(b) The increase in benefits as provided in this section shall be added to the annuity for the purpose of computing the annual postretirement increase as provided in § 24-5-119(a) for the benefit redetermination July 1, 2001.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-5-119. Redetermination of benefits.
(a) Beginning with the July 1 which is at least twelve (12) full months after the effective date of each benefit, the amount of each benefit shall be redetermined, and the redetermined amount shall be payable for the ensuing year.
(b)(1) The redetermined amount shall be the amount of the benefit otherwise payable as of the immediately preceding July 1 increased by the lesser of three percent (3%) or the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers as determined by the United States Department of Labor over the one-year period ending in the December immediately preceding the date for which the redetermined amount is being calculated.
(2) However, the redetermined amount of the benefit to be paid shall not be less than the redetermined amount of the benefit paid in the preceding year.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-5-119
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 24-5-119. This identifies an authority to review, not proof of applicability.