Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of March 28, 2024 | Updated by Findlaw Staff
(a) There shall be added to the fund pension and relief fund for paid nonuniformed employees the following moneys:
(1) All moneys given or donated to the fund; and
(2) Not less than six percent (6%) of the monthly salary of each employee, to be deducted each month by the city or its proper agency and immediately paid to the board of trustees of the pension and relief fund for paid nonuniformed employees.
(b) Employers shall contribute to the fund not less than six percent (6%) of the employee's salary.
(c) Both the employees and employers shall contribute to the fund equal amounts of covered payroll.
(d)(1) Upon leaving employment with the city, any employee shall be entitled to apply for and receive a refund of the aggregate amount withheld from his or her monthly salary during his or her period of employment with the city and paid into the pension and relief fund for paid nonuniformed employees of the city.
(2) Upon receiving a refund of the amounts deducted from his or her monthly salary from the pension and relief fund for paid nonuniformed employees of the city, the employee shall forfeit his or her credited service as a member of the pension and relief fund and shall not be eligible thereafter to receive any benefits under the provisions of this act for his or her service.
Cite this article: FindLaw.com - Arkansas Code Title 24. Retirement and Pensions § 24-12-111. Contributions and refunds - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-24-retirement-and-pensions/ar-code-sect-24-12-111/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)