(a)
(1) A person who has served as mayor of a city of the second class for at least twenty (20) years may retire at any age, and a person who has served as a mayor of a city of the second class for at least sixteen (16) years may retire upon reaching sixty-five (65) years of age.
(2) On January 1 of each year, if a retiree under this section has been retired for at least twelve (12) full months, up to a three percent (3%) cost-of-living increase will be added.
(3) Subdivision (a)(2) of this section applies only if approved by the governing body of the city.
(b) The governing body of a city of the second class may prescribe the retirement benefits of a person who has served as mayor of the city of the second class and meets the requirements of subsection (a) of this section.
(c) Any mayor who retired before March 18, 1985, and received benefits under prior acts of the General Assembly shall be entitled to continue receiving benefits under the prior acts.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 12 - Local Officers And Employees — Miscellaneous Provisions
Subchapter 1 - General Provisions
§ 24-12-103. Vote to effect act
§ 24-12-104. Tax levy to support fund
§ 24-12-105. Board of trustees
§ 24-12-106. List of retired employees
§ 24-12-107. Treasurer as custodian of fund
§ 24-12-108. Deposit of moneys
§ 24-12-111. Moneys added to fund — Refunds
§ 24-12-112. Proration upon insufficiency of fund
§ 24-12-113. Report on condition of fund
§ 24-12-114. Subjection of fund to legal process
§ 24-12-115. Benefits — Temporary total disability retirement — Voluntary retirement
§ 24-12-116. Benefits — Permanent total disability retirement
§ 24-12-117. Benefits — Death of employee
§ 24-12-120. City attorneys in cities of the first class and cities of the second class
§ 24-12-121. City clerk — Clerk-treasurer
§ 24-12-122. Deputy city clerks
§ 24-12-123. Mayors of cities of the first class
§ 24-12-124. Mayors of cities of the second class
§ 24-12-125. Treasurers of cities of the first class
§ 24-12-127. Recorder-treasurers and city treasurers of the second class
§ 24-12-128. County officials and employees
§ 24-12-129. Municipal officials and employees
§ 24-12-130. Limitation on benefits provided by Acts 1997, No. 1098
§ 24-12-131. Monthly benefit increase
§ 24-12-132. Health benefits for retired municipal employees and officials