(a)
(1) There is established on the books of the Treasurer of State, the Auditor of State, and the Secretary of the Department of Finance and Administration a fund to be known as the “Arkansas Public Employees' Retirement System Fund”.
(2) This fund shall consist of trust funds as provided by law and shall be used for the payment of personal services, operating expenses, investments, benefits, refunds, and for such other purposes as may be authorized by law.
(b)
(1) The Board of Trustees of the Arkansas Public Employees' Retirement System shall have the authority to establish a division or divisions for the various participating employers as necessary to administer the Arkansas Public Employees' Retirement System.
(2) The retirement system accounts shall be the members' deposit account, the employers' accumulation account, the retirement reserve account, the income account, and such other accounts as the board shall establish from time to time.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 4 - Arkansas Public Employees' Retirement System
Subchapter 2 - Funds and Management of Assets
§ 24-4-201. Arkansas Public Employees' Retirement System Fund — Creation — System accounts
§ 24-4-202. Arkansas Public Employees' Retirement System Fund — Contributions
§ 24-4-206. Funding — Additional liabilities — Local Government Division
§ 24-4-207. Bonds — Payments on vouchers and warrants — Adjustment of erroneous payments
§ 24-4-208. Reduction of annuities when funds inadequate
§ 24-4-210. Transfer of funds to cover retired county constitutional officers
§ 24-4-211. Disposition of funds returned to hospitals withdrawing from system