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24-6-221. Benefits — Increased benefits for persons retiring by June 1, 1982, or by July 1, 1982.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-6-221. Benefits — Increased benefits for persons retiring by June 1, 1982, or by July 1, 1982.
(a)(1) Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the State Police Retirement System who retired prior to July 1, 1982, shall be increased as follows:
Date of Retirement Percent of Increase 7-1-82 and after 0% 7-1-80 through 6-30-82 6% 7-1-75 through 6-30-80 12% Before 7-1-75 18%
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(2) It is the specific intent of this subsection that those retirants or beneficiaries who retired before July 1, 1975, shall receive a maximum increase of eighteen percent (18%).
(3) The increase in benefits provided in subdivision (a)(1) of this section shall be added to the monthly benefit after the annual post-retirement increase based on the consumer price index has been applied, and the increase provided in subdivision (a)(1) of this section shall be added to the base annuity of the member or beneficiary.
(b)(1) On July 1, 1985, the monthly retirement benefit payable to retirants and beneficiaries of retirants of the system who retired June 1, 1982, or before shall be increased as follows:
(A) Those retirants and beneficiaries who retired June 1, 1982, or before, shall receive one percent (1%) of the benefit amount payable June 1, 1982, for each full year from the date of retirement through June 1, 1983, with a maximum increase payable of ten percent (10%) of the June 1, 1982, retirement benefit.
(B) The following schedule shall be used to determine the percent of increase due:
Date of Retirement Percent of Increase 7-1-82 and after 0% 7-1-81 through 6-1-82 1% 7-1-80 through 6-1-81 2% 7-1-79 through 6-1-80 3% 7-1-78 through 6-1-79 4% 7-1-77 through 6-1-78 5% 7-1-76 through 6-1-77 6% 7-1-75 th
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-6-221
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:24-6-221
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 913775e836434345f927dfe8e26cb65766996fd6d67ad8813eb269fa2942f557
Source location: content.xml paragraph 4677
Stored source content
24-6-221. Benefits — Increased benefits for persons retiring by June 1, 1982, or by July 1, 1982.
(a)(1) Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the State Police Retirement System who retired prior to July 1, 1982, shall be increased as follows:
Date of Retirement Percent of Increase 7-1-82 and after 0% 7-1-80 through 6-30-82 6% 7-1-75 through 6-30-80 12% Before 7-1-75 18%
Click to view table.
(2) It is the specific intent of this subsection that those retirants or beneficiaries who retired before July 1, 1975, shall receive a maximum increase of eighteen percent (18%).
(3) The increase in benefits provided in subdivision (a)(1) of this section shall be added to the monthly benefit after the annual post-retirement increase based on the consumer price index has been applied, and the increase provided in subdivision (a)(1) of this section shall be added to the base annuity of the member or beneficiary.
(b)(1) On July 1, 1985, the monthly retirement benefit payable to retirants and beneficiaries of retirants of the system who retired June 1, 1982, or before shall be increased as follows:
(A) Those retirants and beneficiaries who retired June 1, 1982, or before, shall receive one percent (1%) of the benefit amount payable June 1, 1982, for each full year from the date of retirement through June 1, 1983, with a maximum increase payable of ten percent (10%) of the June 1, 1982, retirement benefit.
(B) The following schedule shall be used to determine the percent of increase due:
Date of Retirement Percent of Increase 7-1-82 and after 0% 7-1-81 through 6-1-82 1% 7-1-80 through 6-1-81 2% 7-1-79 through 6-1-80 3% 7-1-78 through 6-1-79 4% 7-1-77 through 6-1-78 5% 7-1-76 through 6-1-77 6% 7-1-75 through 6-1-76 7% 7-1-74 through 6-1-75 8% 7-1-73 through 6-1-74 9% 7-1-72 through 6-1-73 10% Before 7-1-72 10%
Click to view table.
(2) It is the specific intent of this subsection that those retirants or beneficiaries who retired before June 1, 1973, shall receive a maximum increase of ten percent (10%).
(3) The increase in benefits provided in subdivision (b)(1) of this section shall be added to the monthly benefit after the annual postretirement increase based on the consumer price index has been applied, and the increase provided in subdivision (b)(1) of this section shall be added to the base annuity of the member or beneficiary.
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