(a) Each July 1 the Arkansas Public Employees' Retirement System shall redetermine the amount of each monthly benefit that has been payable by the system for at least twelve (12) calendar months. The redetermined amount is payable for the following twelve (12) calendar months.
(b) The redetermined amount is the amount of the benefit payable as of the immediately preceding July 1 increased by three percent (3%).
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 4 - Arkansas Public Employees' Retirement System
Subchapter 11 - Contributions of Members to their Deposit Accounts
§ 24-4-1102. Member contributions
§ 24-4-1103. Benefits generally
§ 24-4-1105. Deferred and early annuities
§ 24-4-1106. Benefits — Death of retirant
§ 24-4-1107. Redetermination of benefits