(a) Effective July 1, 1991, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1991 shall be increased by four percent (4%) above the annuity such retiree or beneficiary received for June 1991.
(b) The increase in benefits as provided in this section shall be added to the base annuity for the purpose of computing the annual postretirement increase as provided in ยง 24-5-119(a) for the benefit redetermination July 1, 1991, and for all years thereafter.
Section: Previous 24-5-118 24-5-119 24-5-120 24-5-122 24-5-123 24-5-124 24-5-125 24-5-126 24-5-127 24-5-128 24-5-129 24-5-130 24-5-131 24-5-132 24-5-133 NextLast modified: November 15, 2016