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24-8-301. Subchapter cumulative.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-301. Subchapter cumulative.
This subchapter shall not repeal existing laws of this state relating to the retirement of municipal court judges and municipal court clerks but shall be cumulative thereto, specifically to §§ 24-8-401 and 24-8-403 — 24-8-408, and acts amendatory thereof. It shall in no manner affect the rights or status of persons receiving or eligible to receive retirement benefits under the provisions of §§ 24-8-401 and 24-8-403 — 24-8-408.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-301
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:24-8-301
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 88d348d334b88b87d4f5bf6591763c0e422f8a07b52511858718b7a41cd90586
Source location: content.xml paragraph 8773
Stored source content
24-8-301. Subchapter cumulative.
This subchapter shall not repeal existing laws of this state relating to the retirement of municipal court judges and municipal court clerks but shall be cumulative thereto, specifically to §§ 24-8-401 and 24-8-403 — 24-8-408, and acts amendatory thereof. It shall in no manner affect the rights or status of persons receiving or eligible to receive retirement benefits under the provisions of §§ 24-8-401 and 24-8-403 — 24-8-408.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-401. Board of trustees.
(a)(1) In cities in a county having a population of one hundred fifty thousand (150,000) or more, in which county there are two (2) or more municipal courts with a judge of a municipal court licensed to practice law, there is created a board of trustees which shall consist of the mayor, city clerk, city treasurer, city health officer, and municipal judges of the city.
(2) In counties having a population of at least one hundred fifty thousand (150,000) and at least one (1) county municipal court, there is hereby created a board of trustees which shall consist of the county judge, county clerk, county treasurer, and the judge of the county municipal court.
(b)(1) The board shall receive and administer the funds collected under the provisions of this subchapter and shall have the power to make necessary rules therefor.
(2)(A) The board shall have the authority to invest such funds as are not necessary for the immediate use for payment of retirement benefits in interest-bearing securities of the State of Arkansas or certificates of the United States or any or all such securities.
(B) Subject to subdivision (b)(2)(C) of this section, a city or county having municipal judges' and clerks' pension plans with assets in excess of one hundred thousand dollars ($100,000) shall have full power to invest and reinvest the moneys of the plan and to hold, purchase, sell, assign, transfer, or dispose of any of the investments so made, as well as the proceeds of the investments and moneys. Such authority shall be implemented by the mayor and the city treasurer, or the county judge and the county treasurer, respectively.
(C) The investments and reinvestments shall only be made in accordance with the prudent investor rule as set forth in §§ 24-3-417
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-401
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 24-8-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-403. Benefits — Frequency of payment — Deficiencies for any judge of municipal court — Proration upon insufficiency of fund for any county municipal judge.
(a) All payments of retirement benefits under this subchapter shall be payable semimonthly.
(b)(1)(A) In case the fund established by this subchapter should ever become deficient to pay retirement benefits due any person under this subchapter, the city treasurer shall verify the deficiency.
(B)(i) This deficiency shall be met by payment from the general funds of the city, and proportionately from the general funds of the county if the salaries of the judges of the municipal courts in the county are paid partially by the county, in the amount as may be necessary to continue the timely payment of retirement benefits to the persons entitled thereto.
(ii) Provided, however, that in the case of a county municipal court judge, the deficiency shall not be met by payment from the general funds of the county.
(2) If funds thereafter accruing under this subchapter accumulate to become sufficient for the payment of benefits, then no further payment shall be made from the general funds of the city unless and until the fund provided by this subchapter should again become deficient and the deficiency is verified by the city treasurer.
(c)(1) In the case of a county municipal court judge, should the fund established under this subchapter be insufficient to pay retirement benefits due any such judge, then the fund shall be prorated among those entitled by the board as may be deemed just and equitable.
(2) For the purpose of determining how to prorate benefits, the proration shall be considered just and equitable if:
(A) The board pays the full benefit each month to all eligible retired judges until assets in the
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-403
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 24-8-403. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-408. Eligibility for benefits — Clerks.
(a)(1) Any clerk of a municipal court to which this subchapter applies, appointed by the judge or judges of the court, shall be eligible to receive retirement benefits provided by this subchapter who:
(A) Attains age sixty (60) and has served in office as clerk for at least ten (10) years;
(B) Attains age sixty-five (65) and has served in office for at least eight (8) years; or
(C) Has served in office for at least twenty (20) years, irrespective of age.
(2) If the clerk resigns, retires from office, or is succeeded in office by another clerk, the clerk shall receive retirement pay for and during the remainder of the person’s natural life in an amount equal to one-half (½) of the salary payable to the clerk at the time of resignation, retirement, or succession in office.
(3) The governing body of the municipality or the county may by ordinance provide that after the death of the clerk, the surviving spouse of a qualifying court clerk can continue to receive the retirement benefits under this subchapter until the surviving spouse dies or remarries.
(b)(1) Any clerk of a municipal court who is covered by the provisions of this subchapter and who has seven (7) or more years of service in any position in the office of the county sheriff shall be entitled to have the service in the office of the county sheriff credited as municipal court clerk service.
(2) The service so converted shall be treated the same as if it were service as clerk of a municipal court in the county for purposes of determining eligibility for retirement under the provisions of this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-408
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 24-8-408. This identifies an authority to review, not proof of applicability.