(a) Effective July 1, 1991, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1991 shall be increased by four percent (4%) above the annuity such retiree or beneficiary received for June 1991.
(b) The increase in benefits as provided in this section shall be added to the base annuity for the purpose of computing the annual postretirement increase as provided in § 24-5-119(a) for the benefit redetermination July 1, 1991, and for all years thereafter.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 5 - Arkansas State Highway Employees' Retirement
Subchapter 1 - General Provisions
§ 24-5-103. Establishment of system
§ 24-5-105. Cost of administration — Payment of benefits and adjustment of errors
§ 24-5-106. Establishment of retirement fund
§ 24-5-108. Members' contributions
§ 24-5-109. Employer's contribution
§ 24-5-110. Credit for prior and current service in department
§ 24-5-112. Eligibility for benefits — Voluntary retirement
§ 24-5-113. Eligibility for benefits — Disability retirement — Definition
§ 24-5-114. Eligibility for benefits — Early retirement
§ 24-5-115. Benefits generally
§ 24-5-116. Benefits — Death of member or retirant
§ 24-5-117. Benefits — Withdrawal from service
§ 24-5-118. Benefits — Annuity options
§ 24-5-119. Redetermination of benefits
§ 24-5-120. Increase in monthly retirement benefit — Schedule
§ 24-5-122. Early retirement incentives
§ 24-5-123. Credit for military service
§ 24-5-124. Minimum monthly benefit
§ 24-5-125. Eligibility to receive increase in benefits
§ 24-5-126. Increase in benefits
§ 24-5-127. Creditable service
§ 24-5-128. Increase in monthly retirement benefit — 1993
§ 24-5-129. Increase in monthly retirement benefit — Acts 1997, No. 349
§ 24-5-130. Increase in monthly retirement benefit — Acts 1997, No. 386
§ 24-5-131. Limitation on benefit enhancement of Acts 1997, No. 1089
§ 24-5-132. Limitation on benefit enhancement of Acts 1997, No. 1067
§ 24-5-133. Early participation
§ 24-5-134. Death benefit enhancement
§ 24-5-135. Annuity benefit enhancement
§ 24-5-136. Operation of system as qualified trust
§ 24-5-137. Compliance with Internal Revenue Code section 415