Arkansas Statutes
§ 24-10-705 — Method of payment
Arkansas·Title 24
At the option of the participant, the participant in the Local Police and Fire Deferred Retirement Option Plan shall receive:
(1)A lump-sum payment from the account equal to the payments into the plan account;
(2)A monthly annuity that is the actuarial equivalent of the lump-sum amount and paid in the form of one (1) of the options for an annuity under § 24-10-603 ; or (3) Another method of payment if another method is approved by the Board of Trustees of the Arkansas Local Police and Fire Retirement System.
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Legislative History
Acts 2003, No. 1734, § 1.
Nearby Sections
15
§ 24-1-101
Assets and income for retirement systems§ 24-1-102
Annual valuation§ 24-1-103
Change of contribution rate§ 24-1-105
Liabilities exceeding thirty-year amortization period - Legislated benefit enhancement prohibited§ 24-1-106
Benefit enhancements§ 24-1-201
Declaration of policy§ 24-1-202
Definitions§ 24-1-203
Rules§ 24-1-206
Agents§ 24-1-207
Contributions - State employees