§ 24-5-135 - Annuity benefit enhancement. - Arkansas Statutes

24-5-135. Annuity benefit enhancement.

(a) Beginning July 1, 2001, 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 2001 shall be increased by four and eight-tenths percent (4.8%) above the annuity the retiree or beneficiary received for June 2001.

(b) The increase in benefits as provided in this section shall be added to the annuity for the purpose of computing the annual post-retirement increase as provided in 24-5-119(a) for the benefit re-determination July 1, 2001.