(a) Any member of a policemen's pension and relief fund who has police-related service with the municipal government shall be entitled to purchase credited service in the system equivalent to the amount of employment service he or she has with the municipal police department in a position as police-related employment service up to a maximum of three (3) years of credited service, provided that the member contributes to the system an amount the Arkansas Fire and Police Pension Review Board determines would be actuarially equivalent to the value of the service purchased.
(b) The board shall have the final power to determine the value of the service purchased.
(c) Service credit purchased under this section may be used to determine the member's total credited service for the amount upon retirement and shall not be used to determine his or her final average pay for service under the system.
(d) As used in this section, "police-related service" means service with a municipality that has police officers covered under a policemen's pension and relief fund in a job or in a paid position within a covered police department or fire department where the person performs duties that are related to the delivery of police and law enforcement services, including service such as a police department radio dispatcher or other similar service.
Section: Previous 24-11-422 24-11-423 24-11-424 24-11-425 24-11-426 24-11-428 24-11-429 24-11-430 24-11-432 24-11-433 24-11-434 24-11-436 24-11-437 24-11-438Last modified: November 15, 2016