(a) All payments of retirement benefits under this subchapter shall be payable semimonthly.
(b)
(1) In case the fund established by this subchapter should ever become deficient to pay retirement benefits due any persons under this subchapter, the city treasurer shall verify the deficiency.
(2) This deficiency shall be met by payment from the general funds of the city and proportionately from the general funds of the county if the salary of the judge of the municipal courts in the county is paid partially by the county, in such amount as may be necessary to continue the timely payment of retirement benefits to the persons entitled thereto.
(3) If funds thereafter accruing under this subchapter accumulate to become sufficient for the payment of benefits, then no further payment shall be made from the general funds of the city unless and until the fund provided by this subchapter should again become deficient and the deficiency is verified by the city treasurer.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 8 - Retirement Of Judges And Court Employees
Subchapter 3 - Municipal Judges and Clerks Generally
§ 24-8-301. Subchapter cumulative
§ 24-8-304. Benefits — Frequency of payment — Deficiencies
§ 24-8-305. Entitlement to benefits generally
§ 24-8-306. Eligibility for benefits — Regular and disability retirement — Surviving Spouses' rights
§ 24-8-307. Eligibility for benefits — Cities of the first class or cities of the second class
§ 24-8-308. Eligibility for benefits — Twenty years of service
§ 24-8-309. Eligibility for benefits — Sixteen years of service as judge and city attorney
§ 24-8-310. Eligibility for benefits — Judge unlicensed to practice law
§ 24-8-311. Eligibility for benefits — Clerks
§ 24-8-313. Vote to pay benefits to certain clerks and spouses of judges
§ 24-8-314. Municipal judge filling partial term, etc
§ 24-8-315. Multicounty districts — Options
§ 24-8-317. Funding for retirement benefits
§ 24-8-318. Additional funding sources for retirement benefits