Arkansas Code Title 24. Retirement and Pensions § 24-8-705. Members electing coverage

(1) A refund to the member for any credited service purchased under the Arkansas Judicial Retirement System together with six percent (6%) interest compounded annually from the date of payment;

(2) Restoration of service to another state-supported retirement system of any credited service that had been transferred to the Arkansas Judicial Retirement System upon refunding to that system any sums transferred by that system along with six percent (6%) interest compounded annually from the date of the transfer; or

(3) Substitute purchased service for actual service for which no member contribution was made, as provided under subsection (b) of this section.

(b)(1) A member or former member who elects coverage under this subchapter and who has accrued additional actual service prior to the date of transfer but after the date member contributions ceased shall pay to the Arkansas Judicial Retirement System on the effective date of transfer the contributions that would have been paid on the additional actual service at the rate of five percent (5%) of the pay received along with six percent (6%) interest computed annually from the date the contributions would have been paid to the effective date of transfer. However, in no instance, shall the member be required to pay contributions on active service that would exceed the amount required in § 24-8-708.