Arkansas Retirement Benefits Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• Control #: US-CC-21-166
• Format: Word; Rich Text

Description

21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service The Arkansas Retirement Benefits Plan is a comprehensive retirement program offered to eligible employees in the state of Arkansas. As a valuable employee benefit, this retirement plan aims to provide financial security and stability during the post-employment years. It is designed to ensure that individuals can comfortably retire and enjoy their golden years without worrying about their financial well-being. The Arkansas Retirement Benefits Plan encompasses various types of retirement plans catering to the diverse needs of employees. Some different types include: 1. Arkansas Public Employees Retirement System (PAPERS): PAPERS is a defined benefit plan that covers state and local government employees, including teachers, police officers, firefighters, and other public service workers. It provides a lifetime pension based on an employee's salary, length of service, and retirement age. 2. Arkansas State Highway Employees Retirement System (ASHES): ASHES is another defined benefit plan created specifically for state highway department employees. It offers retirement benefits based on an employee's years of service and final average salary. 3. Arkansas Judicial Retirement System (AIRS): AIRS is a retirement plan exclusively for judges and justices in the state of Arkansas. It provides benefits based on a judge's length of service, salary, and retirement age. 4. Arkansas Local Police and Fire Retirement System (LOP FI): LOP FI is a defined benefit plan designed for local police officers and firefighters. It offers retirement benefits based on an employee's final average salary and years of service. 5. Arkansas Teacher Retirement System (AIRS): AIRS is a defined benefit plan tailored for public school teachers and administrators. Retirement benefits are determined by a teacher's years of service, average salary, and age at retirement. These retirement plans provide a range of benefits to eligible employees, such as lifetime pensions, survivor benefits for spouses and dependents, cost-of-living adjustments, and retiree healthcare options. Additionally, the Arkansas Retirement Benefits Plan ensures that employees have access to financial planning resources, seminars, and personalized assistance to help them make informed decisions regarding their retirement. In conclusion, the Arkansas Retirement Benefits Plan comprises a variety of retirement programs catering to different groups of employees. These plans are designed to offer financial security and peace of mind to individuals as they transition into retirement and enjoy the fruits of their labor after years of dedicated service.

The Arkansas Retirement Benefits Plan is a comprehensive retirement program offered to eligible employees in the state of Arkansas. As a valuable employee benefit, this retirement plan aims to provide financial security and stability during the post-employment years. It is designed to ensure that individuals can comfortably retire and enjoy their golden years without worrying about their financial well-being. The Arkansas Retirement Benefits Plan encompasses various types of retirement plans catering to the diverse needs of employees. Some different types include: 1. Arkansas Public Employees Retirement System (PAPERS): PAPERS is a defined benefit plan that covers state and local government employees, including teachers, police officers, firefighters, and other public service workers. It provides a lifetime pension based on an employee's salary, length of service, and retirement age. 2. Arkansas State Highway Employees Retirement System (ASHES): ASHES is another defined benefit plan created specifically for state highway department employees. It offers retirement benefits based on an employee's years of service and final average salary. 3. Arkansas Judicial Retirement System (AIRS): AIRS is a retirement plan exclusively for judges and justices in the state of Arkansas. It provides benefits based on a judge's length of service, salary, and retirement age. 4. Arkansas Local Police and Fire Retirement System (LOP FI): LOP FI is a defined benefit plan designed for local police officers and firefighters. It offers retirement benefits based on an employee's final average salary and years of service. 5. Arkansas Teacher Retirement System (AIRS): AIRS is a defined benefit plan tailored for public school teachers and administrators. Retirement benefits are determined by a teacher's years of service, average salary, and age at retirement. These retirement plans provide a range of benefits to eligible employees, such as lifetime pensions, survivor benefits for spouses and dependents, cost-of-living adjustments, and retiree healthcare options. Additionally, the Arkansas Retirement Benefits Plan ensures that employees have access to financial planning resources, seminars, and personalized assistance to help them make informed decisions regarding their retirement. In conclusion, the Arkansas Retirement Benefits Plan comprises a variety of retirement programs catering to different groups of employees. These plans are designed to offer financial security and peace of mind to individuals as they transition into retirement and enjoy the fruits of their labor after years of dedicated service.