075.00.23 Ark. Code R. 003

Current through Register Vol. 49, No. 10, October, 2024

Rule 075.00.23-003 - APERS Board Rule 312-2011(5) Crediting of service and additional contributions required of local elected officials

(a) In compliance with Ark. Code Ann. § 24-4-521(b)(5), a person who is employed as a local elected official covered by Arkansas Public Employees' Retirement System is eligible to receive enhanced service credit at two (2) times the regular rate of crediting service.

(b)

(1) Pursuant to Ark. Code Ann. § 24-4-521(b)(5), a person who is employed as a local elected official covered by the system must contribute an additional percentage of his or her compensation for the additional service credit that exceeds the regular rate of crediting service based on the following chart:

Local Elected Officials Requirements for Additional Contributions
Contributory/Noncontributory Member Status	Beginning Service Date as Elected Official	Service Credit	Additional Employer Contributions	Additional Employer Contributions
Noncontributory	06/30/2011 or earlier	2x regular rate	0%	0%
Noncontributory (elected)	07/01/2011 or later	2x regular rate	2.5%	2.5%
Contributory	12/31/2013 or earlier	2x regular rate	0%	0%
Contributory (elected)	01/01/2014 or later	2x regular rate	2.5%	2.5%

(2) Any noncontributory local elected official who requests a refund of these contributions shall forfeit all service credit for the period represented by the refund.

(c)

(1) Pursuant to Ark. Code Ann. § 24-4-101(15)(B), a contributory member who is employed as a local elected official covered by the system shall accrue enhanced service credit on no more than ten (10) actual years of service.

(2) A noncontributory member who is employed as a local elected official covered by the system is not subject to the ten (10) year enhanced service credit accrual limitation under subsection (c)(1) of this rule.

075.00.23 Ark. Code R. 003

Adopted by Arkansas Register Volume 48, Number 11, Effective 11/13/2023