Ark. Code Ann. § 24-6-502: Election to participate in Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan

In lieu of terminating employment and accepting a service retirement pension, a state police officer may elect to participate in the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan and defer the receipt of benefits in accordance with this subchapter if: (1) The state police officer: (A) Is a member of the State Police Retirement System's Tier Two Benefit Plan under § 24-6-401 et seq.; (B) Has at least twenty-eight (28) years of actual service as a member of the State Police Retirement System's Tier Two Benefit Plan under § 24-6-401 et seq., including service credit a member earns after April 3, 1997, as a member of the plan under § 24-6-401 et seq., and the member's service credit from a reciprocal retirement system under § 24-2-401 et seq.; and (C) Is eligible to receive a service retirement pension; and (2) The Board of Trustees of the State Police Retirement System approves the participation in the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan. Amended by Act 2021, No. 415,§ 8, eff. 7/28/2021. Amended by Act 2021, No. 280,§ 1, eff. 7/1/2021. Acts 2009, No. 1242, § 4.

In lieu of terminating employment and accepting a service retirement pension, a state police officer may elect to participate in the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan and defer the receipt of benefits in accordance with this subchapter if:

(1) The state police officer: (A) Is a member of the State Police Retirement System's Tier Two Benefit Plan under § 24-6-401 et seq.; (B) Has at least twenty-eight (28) years of actual service as a member of the State Police Retirement System's Tier Two Benefit Plan under § 24-6-401 et seq., including service credit a member earns after April 3, 1997, as a member of the plan under § 24-6-401 et seq., and the member's service credit from a reciprocal retirement system under § 24-2-401 et seq.; and (C) Is eligible to receive a service retirement pension; and

(A) Is a member of the State Police Retirement System's Tier Two Benefit Plan under § 24-6-401 et seq.;

(B) Has at least twenty-eight (28) years of actual service as a member of the State Police Retirement System's Tier Two Benefit Plan under § 24-6-401 et seq., including service credit a member earns after April 3, 1997, as a member of the plan under § 24-6-401 et seq., and the member's service credit from a reciprocal retirement system under § 24-2-401 et seq.; and

(C) Is eligible to receive a service retirement pension; and

(2) The Board of Trustees of the State Police Retirement System approves the participation in the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan.