Arkansas § 24-10-705 Method of payment

Arkansas Statutes

§ 24-10-705 — Method of payment

Arkansas § 24-10-705

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This text of Arkansas § 24-10-705 (Method of payment) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 24-10-705 (2026).

Text

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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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.