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24-8-313. Vote to pay benefits to certain clerks and spouses of judges.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-313. Vote to pay benefits to certain clerks and spouses of judges.
(a) Upon a three-fourths (¾) vote of the board of trustees established under § 24-8-302, the fund established under § 24-8-301 et seq. may pay retirement benefits due the following persons:
(1) Former municipal court clerks who retired under retirement laws effective prior to March 23, 1973, and whose retirement benefits were paid from the city general fund; and
(2) The surviving spouse of a municipal judge who retired under retirement laws effective prior to March 23, 1973, and whose retirement benefits were paid from the city general fund.
(b) This section shall not repeal existing laws of this state relating to the retirement of municipal court judges and municipal court clerks but shall be cumulative to those laws. It shall in no manner affect the right or status of persons receiving or eligible to receive retirement benefits under § 24-8-301 et seq. or under retirement laws effective prior to March 23, 1973.
(c) In case the fund established by § 24-8-301 et seq. should ever be or become deficient to pay retirement benefits due any person or persons under § 24-8-301 et seq. and those benefits due under this section, the treasurer of the board of trustees shall verify the deficiency, which shall be met by payment from the general funds of the city and proportionately from the general funds of the county if the salary of the judge and the clerk is paid partially by the county until such time as the fund accumulates funds sufficient to pay benefits.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-313
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:24-8-313
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 21adab9eb8ccf42d9176423bc6ae5304d41920e149130ca2e0695feb3a4fec85
Source location: content.xml paragraph 8924
Stored source content
24-8-313. Vote to pay benefits to certain clerks and spouses of judges.
(a) Upon a three-fourths (¾) vote of the board of trustees established under § 24-8-302, the fund established under § 24-8-301 et seq. may pay retirement benefits due the following persons:
(1) Former municipal court clerks who retired under retirement laws effective prior to March 23, 1973, and whose retirement benefits were paid from the city general fund; and
(2) The surviving spouse of a municipal judge who retired under retirement laws effective prior to March 23, 1973, and whose retirement benefits were paid from the city general fund.
(b) This section shall not repeal existing laws of this state relating to the retirement of municipal court judges and municipal court clerks but shall be cumulative to those laws. It shall in no manner affect the right or status of persons receiving or eligible to receive retirement benefits under § 24-8-301 et seq. or under retirement laws effective prior to March 23, 1973.
(c) In case the fund established by § 24-8-301 et seq. should ever be or become deficient to pay retirement benefits due any person or persons under § 24-8-301 et seq. and those benefits due under this section, the treasurer of the board of trustees shall verify the deficiency, which shall be met by payment from the general funds of the city and proportionately from the general funds of the county if the salary of the judge and the clerk is paid partially by the county until such time as the fund accumulates funds sufficient to pay benefits.
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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. The source passage cites 24-8-301. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-8-302. Board of trustees.
(a) There is created in cities of the first class or cities of the second class a board of trustees which shall consist of the mayor, city clerk, city treasurer, city health officer, and municipal judges of the city.
(b) 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.
(c)(1) The board shall have the authority to invest such funds as are not necessary for 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.
(2) Subject to subdivision (c)(3) of this section, a city having a municipal judges' and clerks' pension plan 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.
(3) The investments and reinvestments shall be made only in accordance with the prudent investor rule set forth in §§ 24-3-417 — 24-3-426 [repealed].
(4) A city having a municipal judges' and clerks' pension plan with assets in excess of one hundred thousand dollars ($100,000) may employ an investment advisor as its agent to make investment recommendations and to invest the assets pursuant to a written board investment policy, subject to the terms, conditions, limitations, and restrictions imposed by law upon investments of state retirement systems, as set forth in §§ 24-3-417 — 24-3-426 [repealed].
(5) The investment policy shall not limit the
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-8-302
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 24-8-302. This identifies an authority to review, not proof of applicability.