Browse Arkansas Code titles and sections
24-5-201. Establishment.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-5-201. Establishment.
(a) The Board of Trustees of the Arkansas State Highway Employees' Retirement System may establish a deferred retirement option plan for its members so that, in lieu of terminating employment, they might continue with employment and accept a service retirement benefit pursuant to § 24-5-101 et seq. The board shall be authorized to promulgate rules for a plan to provide this deferred retirement option to its members as is appropriate to maintain a goal of zero (0) cost to the system.
(b) The board shall be authorized to promulgate rules for a plan to provide this deferred retirement option to its members as is appropriate to maintain a goal of zero (0) cost to the system.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-5-201
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. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:24-5-201
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 232e42bca1d91f8d8356c601d4e5efdd5bd10d4d7e9e1aba3fb9d3442c9851b0
Source location: content.xml paragraph 4079
Stored source content
24-5-201. Establishment.
(a) The Board of Trustees of the Arkansas State Highway Employees' Retirement System may establish a deferred retirement option plan for its members so that, in lieu of terminating employment, they might continue with employment and accept a service retirement benefit pursuant to § 24-5-101 et seq. The board shall be authorized to promulgate rules for a plan to provide this deferred retirement option to its members as is appropriate to maintain a goal of zero (0) cost to the system.
(b) The board shall be authorized to promulgate rules for a plan to provide this deferred retirement option to its members as is appropriate to maintain a goal of zero (0) cost to the system.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-5-101. Definitions.
As used in this chapter:
(1) “Accumulated contribution” means the sum of all amounts deducted from the salary or wages of a member, or paid by a member, and credited to his or her individual account, together with any interest the Board of Trustees of the Arkansas State Highway Employees' Retirement System may have authorized to be credited to the member's account;
(2) “Actuarial equivalent” means a benefit of equal reserve value when reserve is the present value of all payment to be made on account of any benefit based upon such reasonable rate of interest and table of experience as a plan shall adopt from time to time;
(3) “Average compensation” means the average of the highest annual compensation paid a member during any period of thirty-six (36) consecutive months of creditable service with a state employer, as the term “state employer” is defined in § 24-2-401;
(4) “Board” means the Board of Trustees of the Arkansas State Highway Employees' Retirement System;
(5)(A) “Creditable service” means the current service of the member plus the portion of prior service time for which contributions have been made or elected to be made by the member.
(B) Retirement benefits shall be computed upon the creditable service of the member.
(C) The board shall determine by appropriate rules how much service in any fiscal year is the equivalent of a year of creditable service;
(6) “Current service” means service as an employee of the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation after the date of establishment of the system and may include the period of time during which the employee's service may have been interrupted by service in the United States Armed Forces. The annual earnings for a mili
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-5-101
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 24-5-101. This identifies an authority to review, not proof of applicability.