Notwithstanding the provisions of § 24-4-510 regarding total credited service in reciprocal retirement systems, both service in the Arkansas Public Employees' Retirement System as a member of the Arkansas State Claims Commission and service in another reciprocal system during the same period of time may be counted as credited service to meet the service requirements for benefits from the Arkansas Public Employees' Retirement System and another reciprocal system, subject to the following:
(1) The provisions of § 24-4-521 may not be used to meet the minimum service requirements;
(2) The portion of service credit attributed under the provisions of this section shall not be used to determine a member's retirement eligibility or the member's normal retirement age under § 24-4-101;
(3) The benefit payable by a reciprocal system will be based on the credited service in that system and on the final average compensation under that system; and
(4) If a member has less than five (5) actual years of service credited in a reciprocal system, then "final average compensation" means the monthly average of pay to the member during his or her total years of service in that system.
Section: Previous 24-4-727 24-4-729 24-4-732 24-4-733 24-4-737 24-4-739 24-4-740 24-4-741 24-4-742 24-4-743 24-4-744 24-4-745 24-4-746 24-4-747 24-4-748 NextLast modified: November 15, 2016