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24-6-104. Credit for service in National Guard and armed forces reserve.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-6-104. Credit for service in National Guard and armed forces reserve.
(a) As used in this section, “armed forces reserve” means one (1) of the reserve components of the United States Armed Forces.
(b)(1) A member of the State Police Retirement System may purchase credited service in the system for a period not to exceed five (5) years for compensated service rendered by the member in the National Guard or in the armed forces reserve if the member:
(A) Makes an application to the Board of Trustees of the State Police Retirement System;
(B) Provides the board with satisfactory proof of that person's service in the National Guard or in the armed forces reserve; and
(C) Pays to the member's deposit account an amount equal to the actuarial present value of the credited service applied for under this section based upon assumptions recommended by the system's actuary.
(2) The payment shall be credited to the member's deposit account and is in addition to any regular member contributions.
(c) A member shall receive one (1) year of purchased service credit for every one (1) year of compensated service in the National Guard or in the armed forces reserve.
(d) The service in the National Guard or in the armed forces reserve shall not become credited service under this system until the member:
(1) Pays for the year of service in the National Guard or in the armed forces reserve prior to retirement; and
(2) Has established five (5) or more years of actual service in the system.
(e) If a member ceases to be an active member before the service in the National Guard or in the armed forces reserve has been established as system-credited service, the member payments contributed under this section are refundable, together with regular interest.
(f)(1) This secti
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-6-104
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:24-6-104
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b9882ec6719c38c6632772203da2b64d05d39374ae3c6dd271500d558e153280
Source location: content.xml paragraph 4218
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24-6-104. Credit for service in National Guard and armed forces reserve.
(a) As used in this section, “armed forces reserve” means one (1) of the reserve components of the United States Armed Forces.
(b)(1) A member of the State Police Retirement System may purchase credited service in the system for a period not to exceed five (5) years for compensated service rendered by the member in the National Guard or in the armed forces reserve if the member:
(A) Makes an application to the Board of Trustees of the State Police Retirement System;
(B) Provides the board with satisfactory proof of that person's service in the National Guard or in the armed forces reserve; and
(C) Pays to the member's deposit account an amount equal to the actuarial present value of the credited service applied for under this section based upon assumptions recommended by the system's actuary.
(2) The payment shall be credited to the member's deposit account and is in addition to any regular member contributions.
(c) A member shall receive one (1) year of purchased service credit for every one (1) year of compensated service in the National Guard or in the armed forces reserve.
(d) The service in the National Guard or in the armed forces reserve shall not become credited service under this system until the member:
(1) Pays for the year of service in the National Guard or in the armed forces reserve prior to retirement; and
(2) Has established five (5) or more years of actual service in the system.
(e) If a member ceases to be an active member before the service in the National Guard or in the armed forces reserve has been established as system-credited service, the member payments contributed under this section are refundable, together with regular interest.
(f)(1) This section is supplemental to §§ 24-2-502 and 24-6-210, and this section does not diminish the right of any member of the system to obtain credited service in the system for active duty military service within the limits permitted by §§ 24-2-502 and 24-6-210.
(2) However, a member is not entitled to receive more than five (5) years of credited service rendered by the member under this section.
(3) A member is not eligible to purchase service credit in more than one (1) retirement system, whether federally or state-supported, for service in the National Guard or in the armed forces reserve.
(4) Service credit in the system for active duty military service under §§ 24-2-502 and 24-6-210 and for service in the National Guard or in the armed forces reserve shall not be given for the same period of time.
(5) A member's service in the National Guard or in the armed forces reserve shall not make the member eligible for any kind of benefit under any other state-supported retirement system except Social Security.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-502. Purchased credited service.
(a) Any person who is or was a member of a state-supported retirement system in this state and who was not receiving benefits under the system on July 9, 1975, shall be entitled to purchase credited service in the system for a period not to exceed five (5) years for service rendered by the member in the United States Armed Forces prior to the member's employment in a position covered by a state-supported retirement system, but only if the person:
(1) Has five (5) years of actual service with the retirement system;
(2) Received an honorable discharge from the armed forces; and
(3)(A) For the first three (3) years of credited service, contributes to the members' deposit account a sum of money equal to the amount he or she would have contributed to the account had he or she been a member during his or her term of military service. This amount shall be based upon his or her monthly contributions at the time he or she first became a member of the retirement system and interest thereon at the rate of six percent (6%), together with an amount equal to the employer's matching contribution and interest thereon at the rate of six percent (6%), which interest shall commence January 1, 1976, or six (6) months after eligibility, whichever is later.
(B) For the fourth and fifth year of credited service, contributes to the members' deposit account a sum of money equal to the amount he or she would have contributed to the account had he or she been a member during his or her term of military service. This amount shall be based upon:
(i) His or her salary at the time he or she first became a member of the retirement system;
(ii) The employer's contribution in effect at the time he or she first became eligible to purchase the military s
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-502
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 24-2-502. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-6-210. Credited service.
(a)(1) Any member who shall become separated from the employ of the Division of Arkansas State Police by reason of service in the United States Armed Forces shall have the service, not to exceed a total of five (5) years, credited to him or her as division service, but only if he or she returns to the employ of the division within one hundred eighty (180) days from and after termination of the armed service required of him or her and if he or she returns to the members' deposit account the amount of his or her accumulated contributions withdrawn by him or her, together with regular interest from the date of withdrawal to the date of repayment.
(2) In any case of doubt as to the period to be so credited any member, the Board of Trustees of the State Police Retirement System shall have the final power to determine the period.
(3) During the period of armed service and until his or her return to the employ of the division, his or her contributions to the members' deposit account shall be suspended, and his or her balance in the account shall be accumulated at regular interest.
(4) The federal service so credited a member shall be excluded in computing his or her final average compensation.
(b)(1) The board shall determine by appropriate rules the amount of service to be credited any member.
(2) In no case shall less than fifteen (15) days of service rendered in any calendar month be credited as a month of service, nor shall less than ten (10) months of service rendered in any calendar year be credited as a year of service, nor shall more than one (1) year of service be credited any member for all service rendered by him or her in any calendar year.
(c)(1) Except as otherwise provided in this subchapter, should any member leave the
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-6-210
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 24-6-210. This identifies an authority to review, not proof of applicability.