(a) Each July 1 the Arkansas Public Employees' Retirement System shall redetermine the amount of each monthly benefit that has been payable by the system for at least twelve (12) calendar months. The redetermined amount is payable for the following twelve (12) calendar months.
(b) The redetermined amount is the amount of the benefit payable as of the immediately preceding July 1 increased by three percent (3%).
Section: Previous 24-4-1102 24-4-1103 24-4-1104 24-4-1105 24-4-1106 24-4-1107 24-4-1108 24-4-1109 NextLast modified: November 15, 2016