Arkansas Code Title 24, Chapter 5, Subchapter 1 - General Provisions

• § 24-5-101 - Definitions.
  As used in this chapter: (1) "Accumulated contribution" means the sum of all amounts deducted from the salary or wages of a member, or...
• § 24-5-102 - Penalty.
  Any person who knowingly makes any false statement or who falsifies any record or records in an attempt to defraud the Arkansas State Highway...
• § 24-5-103 - Establishment of System.
  There is created and established a retirement system for employees of the Arkansas State Highway and Transportation Department to be known as the "Arkansas...
• § 24-5-104 - Board of Trustees.
  (a) The administration and control of the Arkansas State Highway Employees' Retirement System shall be vested in a board known as the "Board of...
• § 24-5-105 - Cost of Administration -- Payment of Benefits and Adjustment of Errors.
  (a) The cost of administering the plan shall be borne by the Arkansas State Highway and Transportation Department, except that the Arkansas State Highway...
• § 24-5-106 - Establishment of Retirement Fund.
  (a) There is created a trust fund to be known as the "Arkansas State Highway Employees' Retirement System Fund", which shall be the depository...
• § 24-5-107 - Membership.
  (a) Any employee of the Arkansas State Highway and Transportation Department, as defined in § 24-5-101(7), shall become a member of the Arkansas State...
• § 24-5-108 - Members' Contributions.
  (a) All members of the Arkansas State Highway Employees' Retirement System shall be assessed six percent (6%) of their salaries and wages by payroll...
• § 24-5-109 - Employer's Contribution.
  (a) The employer shall match all member contributions with a twelve and nine-tenths percent (12.9%) contribution from the fund from which the employees are...
• § 24-5-110 - Credit for Prior and Current Service in Department.
  (a) (1) Any employee of the Arkansas State Highway and Transportation Department may make application within one (1) year from the date of becoming...
• § 24-5-111 - [Repealed.]
• § 24-5-112 - Eligibility for Benefits -- Voluntary Retirement.
  (a) A member may retire voluntarily as follows: (1) At age sixty-five (65), or during any year thereafter until the age of compulsory retirement...
• § 24-5-113 - Eligibility for Benefits -- Disability Retirement.
  (a) A member shall be eligible for disability retirement benefits after five (5) or more years of creditable service in the Arkansas State Highway...
• § 24-5-114 - Eligibility for Benefits -- Early Retirement.
  (a) In addition to retirement as provided in §§ 24-5-112 and 24-5-113, a member may retire after a minimum of five (5) years of...
• § 24-5-115 - Benefits Generally.
  (a) (1) Members retired for the reasons set forth in §§ 24-5-112 -- 24-5-114 shall be eligible for annual retirement benefits based on two...
• § 24-5-116 - Benefits -- Death of Member or Retirant.
  (a) (1) In the case of death of a member prior to retirement or of a member's beneficiary whose benefits have been deferred or...
• § 24-5-117 - Benefits -- Withdrawal From Service.
  (a) (1) In the case of withdrawal from service within less than one (1) year after having become a member of the Arkansas State...
• § 24-5-118 - Benefits -- Annuity Options.
  (a) Before the date the first payment of an annuity becomes due, but not thereafter, a person about to become a retirant may elect,...
• § 24-5-119 - Redetermination of Benefits.
  (a) Beginning with the July 1 which is at least twelve (12) full months after the effective date of each benefit, the amount of...
• § 24-5-120 - Increase in Monthly Retirement Benefit -- Schedule.
  (a) Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who...
• § 24-5-121 - [Repealed.]
• § 24-5-122 - Early Retirement Incentives.
  (a) (1) Any member of the Arkansas State Highway Employees' Retirement System who retires as provided in § 24-5-112, shall receive an annuity consisting...
• § 24-5-123 - Credit for Military Service.
  (a) Any person who is a member of the Arkansas State Highway Employees' Retirement System shall be entitled to purchase creditable service in the...
• § 24-5-124 - Minimum Monthly Benefit.
  All persons who are now vested or who hereafter vest under the Arkansas Public Employees' Retirement System or the Arkansas State Highway Employees' Retirement...
• § 24-5-125 - Eligibility to Receive Increase in Benefits.
  (a) (1) In order to help offset the cost of health insurance and health care, a member who is receiving benefits from the Arkansas...
• § 24-5-126 - Increase in Benefits.
  (a) Effective July 1, 1991, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who...
• § 24-5-127 - Creditable Service.
  (a) Any employee of the Arkansas State Highway and Transportation Department who is a member of the Arkansas State Highway Employees' Retirement System and...
• § 24-5-128 - Increase in Monthly Retirement Benefit -- 1993.
  (a) Effective July 1, 1993, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who...
• § 24-5-129 - Increase in Monthly Retirement Benefit -- Acts 1997, No. 349.
  (a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who...
• § 24-5-130 - Increase in Monthly Retirement Benefit -- Acts 1997, No. 386.
  (a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who...
• § 24-5-131 - Limitation on Benefit Enhancement of Acts 1997, No. 1089.
  No benefit enhancement provided for by § 24-5-116 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities...
• § 24-5-132 - Limitation on Benefit Enhancement of Acts 1997, No. 1067.
  No benefit enhancement provided for by § 24-5-118 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities...
• § 24-5-133 - Early Participation.
  The Board of Trustees of the Arkansas State Highway Employees' Retirement System shall present to the Joint Committee on Public Retirement and Social Security...
• § 24-5-134 - Death Benefit Enhancement.
  (a) (1) Beginning on March 1, 2001, the Arkansas State Highway Employees' Retirement System shall pay an amount not to exceed seven thousand five...
• § 24-5-135 - Annuity Benefit Enhancement.
  (a) Beginning July 1, 2001, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who...
• § 24-5-136 - Operation of System As Qualified Trust.
  (a) The Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall operate the Arkansas State Highway Employees'...
• § 24-5-137 - Compliance With Internal Revenue Code Section 415.
  (a) Notwithstanding any other provision of this chapter, benefits paid under this chapter shall not exceed the limitations of the Internal Revenue Code, 26...

Last modified: November 15, 2016