§ 24-8-713 - Retirement and survivors' benefits generally. - Arkansas Statutes

24-8-713. Retirement and survivors' benefits generally.

(a) The retirement benefits to be paid an eligible and qualified member or retiree under the provisions of this section shall be an amount equal to three and two-tenths percent (3.2%) of annual salary payable to the last judicial office held multiplied by the number of years of actual service under the Arkansas Judicial Retirement System but not to exceed an amount equal to eighty percent (80%) of salary. The retirement benefits shall be payable for the recipient's life.

(b) (1) Survivors' benefits shall be sixty-seven percent (67%) of the amount of the retirement benefits.

(2) Upon the death of an active judge or justice who has served at least three (3) years, his or her survivors shall receive a sum equal to sixty-seven percent (67%) of the retirement benefits provided in subsection (a) of this section.

(3) Survivors' benefits shall be payable as follows:

(A) If the decedent is survived by a spouse to whom he or she has been married for not less than one (1) year and with whom he or she is living at the time of his or her death, and if the decedent is not survived by any minor child or children, then the spouse shall draw for life or until remarriage a sum equal to sixty-seven percent (67%) of the benefits provided in subsection (a) of this section;

(B) (i) If the decedent is survived by both an eligible spouse and minor children, then one-half (1/2) of the survivors' benefits shall be paid to the spouse for life or until remarriage. The other one-half (1/2) of the survivors' benefits shall be paid to the guardian of the minor children during the period of minority.

(ii) When all of the children cease to be minors, then the survivors' benefits paid to the minor children shall be paid to the spouse; and

(C) If the decedent is not survived by an eligible spouse but is survived by minor children, then the survivors' benefits, i.e., sixty-seven percent (67%) of the benefits provided in subsection (a) of this section, shall be payable to the guardian of the minor children during the period of minority.

(4) If a surviving spouse who is receiving survivors' benefits under this section remarries and the benefits are discontinued and the surviving spouse again becomes unmarried, benefits provided in this section for the spouse shall be resumed.

(5) No surviving spouse shall be eligible to receive survivors' benefits on more than one (1) member account.

(c) The retirement benefits and survivors' benefits provided for in this section shall be based on the salary for the judicial office last held by the member qualifying for retirement as fixed by law at the time of the member's retirement.

(d) (1) Entitlement to retirement compensation and survivors' benefits shall be evidenced by the certificate of the Board of Trustees of the Arkansas Judicial Retirement System transmitted to the executive director.

(2) All retirement compensation and survivors' benefits shall be paid monthly from the Judges Retirement Fund.

(3) All retirement and survivors' benefits provided by this subchapter shall be paid from the Judges Retirement Fund to be administered by the executive director and staff of the Arkansas Public Employees' Retirement System.