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24-6-404. Eligibility for benefits — Voluntary retirement.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-6-404. Eligibility for benefits — Voluntary retirement.
(a)(1) Any member who has acquired five (5) years but less than thirty (30) years of credited service and has attained age sixty-five (65) may retire upon his or her written application filed with the Board of Trustees of the State Police Retirement System.
(2) Any member who has acquired thirty (30) or more years of credited service may retire at any age upon his or her written application filed with the board.
(3) For those members with less than thirty (30) credited years of service, the age sixty-five requirement shall be reduced by seventy-five hundredths (0.75) of a month for each credited month of service, but in no event to an age younger than fifty-five (55).
(b) This application shall set forth at what time, not less than thirty (30) days nor more than ninety (90) days subsequent to the execution and filing thereof, the member desires to be retired.
(c) Upon the member's retirement, he or she shall receive a pension provided for in § 24-6-406.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-6-404
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:24-6-404
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: bcbde6228b0d9995896a0355b5ae96a390b17f2ac6aa4c51e14dc2510e6d1b29
Source location: content.xml paragraph 4887
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24-6-404. Eligibility for benefits — Voluntary retirement.
(a)(1) Any member who has acquired five (5) years but less than thirty (30) years of credited service and has attained age sixty-five (65) may retire upon his or her written application filed with the Board of Trustees of the State Police Retirement System.
(2) Any member who has acquired thirty (30) or more years of credited service may retire at any age upon his or her written application filed with the board.
(3) For those members with less than thirty (30) credited years of service, the age sixty-five requirement shall be reduced by seventy-five hundredths (0.75) of a month for each credited month of service, but in no event to an age younger than fifty-five (55).
(b) This application shall set forth at what time, not less than thirty (30) days nor more than ninety (90) days subsequent to the execution and filing thereof, the member desires to be retired.
(c) Upon the member's retirement, he or she shall receive a pension provided for in § 24-6-406.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-6-406. Benefits generally.
(a)(1) Upon retirement as provided in this subchapter, a member shall receive a straight life pension equal to two and four hundred seventy-five thousandths percent (2.475%) of the member's final average compensation multiplied by the number of years and any fraction of a year of his or her service.
(2)(A) In addition, if a member has service resulting from employment in a position covered at any time by Social Security or another federal retirement plan supported wholly or in part by employer contributions, and if that member's age at retirement is younger than:
(i) Social Security's minimum age for an immediate retirement benefit; and
(ii) Age sixty-two (62),
then the member shall receive a temporary annuity equal to five hundred thirteen thousandths percent (0.513%) of the member's final average compensation for each year of his or her actual service.
(B) The temporary annuity shall terminate at the end of the calendar month in which the earliest of the following events occurs:
(i) The member's death;
(ii) The member's attainment of the Social Security minimum age; or
(iii) The member's attainment of age sixty-two (62).
(b) In the event a member with five (5) years or more of actual service in the State Police Retirement System ceases to be employed as a state police officer prior to reaching fifty-five (55) years of age and does not withdraw his or her accumulated employee contributions to the system, the member shall be entitled to receive a pension upon reaching what the member's voluntary retirement age would have been if he or she had continued state police employment from the time of termination of employment.
(c) Any member may elect to withdraw his or her accumulated contributions to the system at the time of
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-6-406
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 24-6-406. This identifies an authority to review, not proof of applicability.