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24-8-225. Limitation on benefit enhancement — Acts 1997, No. 926.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-225. Limitation on benefit enhancement — Acts 1997, No. 926.
(a) No benefit enhancement provided for by § 24-8-214 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization.
(b) No benefit enhancement provided for by § 24-8-214 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by § 24-1-101 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-225
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:24-8-225
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 54f41f0ecbf205165579c44179015c8f65ad0bbf552adec303f86867aea43a35
Source location: content.xml paragraph 8693
Stored source content
24-8-225. Limitation on benefit enhancement — Acts 1997, No. 926.
(a) No benefit enhancement provided for by § 24-8-214 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization.
(b) No benefit enhancement provided for by § 24-8-214 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by § 24-1-101 et seq.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-1-101. Assets and income for retirement systems.
All assets and income of any state-supported retirement system administered by an agency of the State of Arkansas shall be held, invested, or disbursed for the exclusive purpose of providing for benefits, investment management, and administrative expenses, including the acquisition of a building for the permanent offices of the state-supported retirement systems, and shall not be encumbered for or diverted to any other purposes.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-1-101
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 24-1-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-214. Credited service — Transfer of four years' service as prosecuting attorney.
Any person who shall have served not less than two (2) years as an elected prosecuting attorney in this state and who holds credited service therefor in the Arkansas Public Employees' Retirement System, as established by § 24-4-103, anytime after being elected as a circuit judge, chancery judge, circuit-chancery judge, or justice of the Supreme Court, is authorized to transfer his or her credited service in the Arkansas Public Employees' Retirement System to the Arkansas Judicial Retirement System by:
(1) Notifying, in writing, the administrative body of each of the retirement plans of his or her intention to so transfer his or her tenure;
(2) Authorizing the Board of Trustees of the Arkansas Public Employees' Retirement System to transfer to the Arkansas Judicial Retirement System any sums of money paid for his or her retirement to the Arkansas Public Employees' Retirement System by the elected prosecuting attorney; and
(3)(A) Paying into the Arkansas Judicial Retirement System an amount of money he or she would have paid into the system for an equal amount of tenure as a judge of the court to which he or she has been elected, less the amount of money transferred from the Arkansas Public Employees' Retirement System as authorized in this section.
(B) Upon transferring the credited service from the Arkansas Public Employees' Retirement System, the person shall be given credited service in the Arkansas Judicial Retirement System for an equal number of years of credited service for which he or she has qualified under the Arkansas Public Employees' Retirement System as an elected prosecuting attorney.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-214
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 24-8-214. This identifies an authority to review, not proof of applicability.