Arkansas Statutes
§ 24-6-504 — Employer contributions
Arkansas·Title 24
When an employee who is a member of the State Police Retirement System's Tier Two Benefit Plan begins participation in the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan:
(1)The employer contributions shall continue to be paid;
(2)State contributions for the employee shall be credited to the State Police Retirement System; and (3) Seventy-two percent (72%) of the monthly retirement benefits that would have been payable had the employee elected to cease employment and receive a service retirement shall be paid into the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan account.
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Legislative History
Acts 2009, No. 1242, § 4.
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