Arkansas Statutes
§ 24-6-505 — Benefits - Rate of return
Arkansas·Title 24
A participant in the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan:
(1)Shall not have a change in his or her monthly retirement benefit unless the plan receives a benefit increase; and (2) (A) Shall earn interest at a rate set by the Board of Trustees of the State Police Retirement System that shall not be greater than five percent (5%) nor less than one percent (1%) per annum as determined by the board from time to time as promulgated by rule.
(B)The interest shall be credited to the individual plan account balance of the participant on an annual basis.
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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