Ark. Code Ann. § 24-4-801
This is the official text of Ark. Code Ann. § 24-4-801, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Participation
Official statutory text
(a) In lieu of terminating employment and accepting a retirement benefit under the Arkansas Public Employees' Retirement System pursuant to § 24-2-201 et seq. and § 24-4-101 et seq., any person who is a member of the system and who meets the conditions specified in subsection (b) of this section may elect to participate in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan and to defer the receipt of retirement benefits in accordance with the provisions of this subchapter. (b) The conditions required for full participation in the plan are that the member must have at least thirty (30) years of actual service in the system. (c) The Board of Trustees of the Arkansas Public Employees' Retirement System, in consultation with its actuary, may promulgate rules lowering the required years of service for entry into the plan to an amount of not less than twenty-eight (28) years of service, subject to an early participation reduction. The reduction will be computed in a manner that is both equitable to all members and actuarially appropriate for the system. Amended by Act 2019, No. 315,§ 2864, eff. 7/24/2019. Acts 1997, No. 1052, § 1; 1999, No. 1325, § 2; 2001, No. 151, § 48.
(a) In lieu of terminating employment and accepting a retirement benefit under the Arkansas Public Employees' Retirement System pursuant to § 24-2-201 et seq. and § 24-4-101 et seq., any person who is a member of the system and who meets the conditions specified in subsection (b) of this section may elect to participate in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan and to defer the receipt of retirement benefits in accordance with the provisions of this subchapter.
(b) The conditions required for full participation in the plan are that the member must have at least thirty (30) years of actual service in the system.
(c) The Board of Trustees of the Arkansas Public Employees' Retirement System, in consultation with its actuary, may promulgate rules lowering the required years of service for entry into the plan to an amount of not less than twenty-eight (28) years of service, subject to an early participation reduction. The reduction will be computed in a manner that is both equitable to all members and actuarially appropriate for the system.
Amended by Act 2019, No. 315,§ 2864, eff. 7/24/2019.
Acts 1997, No. 1052, § 1; 1999, No. 1325, § 2; 2001, No. 151, § 48.
(a) In lieu of terminating employment and accepting a retirement benefit under the Arkansas Public Employees' Retirement System pursuant to § 24-2-201 et seq. and § 24-4-101 et seq., any person who is a member of the system and who meets the conditions specified in subsection (b) of this section may elect to participate in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan and to defer the receipt of retirement benefits in accordance with the provisions of this subchapter.
(b) The conditions required for full participation in the plan are that the member must have at least thirty (30) years of actual service in the system.
(c) The Board of Trustees of the Arkansas Public Employees' Retirement System, in consultation with its actuary, may promulgate rules lowering the required years of service for entry into the plan to an amount of not less than twenty-eight (28) years of service, subject to an early participation reduction. The reduction will be computed in a manner that is both equitable to all members and actuarially appropriate for the system.
Amended by Act 2019, No. 315,§ 2864, eff. 7/24/2019.
Acts 1997, No. 1052, § 1; 1999, No. 1325, § 2; 2001, No. 151, § 48.
Status: in_force
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