Arkansas Statutes
§ 24-8-223 — Redetermination of benefits
Arkansas·Title 24
(a)Each July 1 the Arkansas Judicial Retirement System shall redetermine the amount of each monthly benefit which has been payable by the system for at least twelve (12) full calendar months. The redetermined amount shall be payable for the following twelve (12) calendar months.
(b)The redetermined amount shall be the amount of benefit payable as of the immediately preceding July 1 increased by three percent (3%).
(c)This method of redetermination of the amount of the retirement benefits shall be applicable to any judge first elected after July 1, 1983.
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Legislative History
Acts 1995, No. 887, §§ 1-3; 1997, No. 129, § 1; 1999, No. 388, § 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