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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) Court clerks placed in the Arkansas Public Employees' Retirement System under this subchapter shall be covered by the reciprocal provisions of §§ 24-2-401--24-2-404.
(b) There is no reciprocal service between the local municipal judge retirement systems and the reciprocal systems listed in § 24-2-401(3) before January 1, 2005.
(c) In establishing eligibility for a benefit from each system, the credited service under all reciprocal systems is totaled, and the credited service is used in determining eligibility for each system benefit.
(d)(1) Only the credited service under that system and the benefit formula of that system are used in determining the amount of a benefit from each system.
(2) This subchapter is not intended to decrease the benefits earned nor increase the eligibility requirements for members who were participants in a local plan, as authorized by law, prior to January 1, 2005.
(3) The benefits earned and those eligibility requirements shall transfer to the Arkansas Public Employees' Retirement System.
(e) If a system provides a benefit amount that is not dependent on length of credited service, the benefit amount shall be reduced to the proportion that system-credited service bears to total reciprocal system-credited service.
Cite this article: FindLaw.com - Arkansas Code Title 24. Retirement and Pensions § 24-8-904. Reciprocal system - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-24-retirement-and-pensions/ar-code-sect-24-8-904/
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 or via Westlaw before relying on it for your legal needs.
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