24 CAR § 15-105. Installment payment

The Board of Trustees of the Arkansas Judicial Retirement System adopted an installment payment plan as follows: (1) A member may enter in an agreement with the Arkansas Judicial Retirement System to pay the total amount due in twenty-four (24) equal monthly installments; (2) The service will not be credited to the member’s retirement account until full payment is received by the system; (3) Full payment must be made before a member makes application for monthly benefits; (4) The system will refund to a member the amount paid if the member does not pay in one (1) lump sum the balance due within six (6) months after termination of covered employment; and (5) The system will refund to the survivor eligible for the refund the amount paid if a member dies before completing payment.