Ark. Code Ann. § 24-5-120: Increase in monthly retirement benefit - Schedule

(a) Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who retired prior to July 1, 1985, and who receive an annuity for July 1987, shall be increased by no more than fifteen percent (15%) of the annuity received for June 1987. (b) The fifteen percent (15%) increase shall be in accordance with the following schedule: Retired Percent Increase After 6-30-85 0% 7-1-83 through 6-30-85 1% 7-1-82 through 6-30-83 2% 7-1-81 through 6-30-82 3% 7-1-80 through 6-30-81 4% 7-1-79 through 6-30-80 5% 7-1-78 through 6-30-79 6% 7-1-77 through 6-30-78 7% 7-1-76 through 6-30-77 8% 7-1-75 through 6-30-76 9% 7-1-74 through 6-30-75 10% 7-1-73 through 6-30-74 11% 7-1-72 through 6-30-73 12% 7-1-71 through 6-30-72 13% 7-1-70 through 6-30-71 14% Before 7-1-70 15% Acts 1983, No. 479, § 1; 1985, No. 611, § 1; A.S.A. 1947, § 76-1912.5; Acts 1987, No. 809, § 3.

(a) Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who retired prior to July 1, 1985, and who receive an annuity for July 1987, shall be increased by no more than fifteen percent (15%) of the annuity received for June 1987.

(b) The fifteen percent (15%) increase shall be in accordance with the following schedule: Retired Percent Increase After 6-30-85 0% 7-1-83 through 6-30-85 1% 7-1-82 through 6-30-83 2% 7-1-81 through 6-30-82 3% 7-1-80 through 6-30-81 4% 7-1-79 through 6-30-80 5% 7-1-78 through 6-30-79 6% 7-1-77 through 6-30-78 7% 7-1-76 through 6-30-77 8% 7-1-75 through 6-30-76 9% 7-1-74 through 6-30-75 10% 7-1-73 through 6-30-74 11% 7-1-72 through 6-30-73 12% 7-1-71 through 6-30-72 13% 7-1-70 through 6-30-71 14% Before 7-1-70 15%

Retired Percent Increase After 6-30-85 0% 7-1-83 through 6-30-85 1% 7-1-82 through 6-30-83 2% 7-1-81 through 6-30-82 3% 7-1-80 through 6-30-81 4% 7-1-79 through 6-30-80 5% 7-1-78 through 6-30-79 6% 7-1-77 through 6-30-78 7% 7-1-76 through 6-30-77 8% 7-1-75 through 6-30-76 9% 7-1-74 through 6-30-75 10% 7-1-73 through 6-30-74 11% 7-1-72 through 6-30-73 12% 7-1-71 through 6-30-72 13% 7-1-70 through 6-30-71 14% Before 7-1-70 15%

Retired

Percent Increase

After 6-30-85

0%

7-1-83 through 6-30-85

1%

7-1-82 through 6-30-83

2%

7-1-81 through 6-30-82

3%

7-1-80 through 6-30-81

4%

7-1-79 through 6-30-80

5%

7-1-78 through 6-30-79

6%

7-1-77 through 6-30-78

7%

7-1-76 through 6-30-77

8%

7-1-75 through 6-30-76

9%

7-1-74 through 6-30-75

10%

7-1-73 through 6-30-74

11%

7-1-72 through 6-30-73

12%

7-1-71 through 6-30-72

13%

7-1-70 through 6-30-71

14%

Before 7-1-70

15%