(a) (1) In the event a former member again becomes an employee of the same police department where previously employed, the police officer shall again become a member of the system, and the credited service forfeited by him or her shall be restored to his or her credit, but only if he or she returns to the fund the amount refunded to him or her plus interest from the date of withdrawal to the date of repayment.
(2) The interest rate to be paid shall be equal to the fund's average investment rate of return as indicated in the last three (3) annual accountant's reports, but in no case less than six percent (6%).
(3) The repayment shall be made according to such rules and regulations as the board shall adopt.
(b) Any police officer who has become a member of the Arkansas Local Police and Fire Retirement System shall remain a member of that system.
Section: Previous 24-11-411 24-11-412 24-11-413 24-11-415 24-11-416 24-11-417 24-11-418 24-11-421 24-11-422 24-11-423 24-11-424 24-11-425 24-11-426 24-11-428 24-11-429 NextLast modified: November 15, 2016