24 CAR § 1-312. Crediting of service and additional contributions required of local elected officials

(a) In compliance with Arkansas Code § 24-4-521(b)(5), a person who is employed as a local elected official covered by Arkansas Public Employees’ Retirement System is eligible to receive enhanced service credit at two (2) times the regular rate of crediting service. (b)(1) Pursuant to Arkansas Code § 24-4-521(b)(5), a person who is employed as a local elected official covered by the system must contribute an additional percentage of his or her compensation for the additional service credit that exceeds the regular rate of crediting service based on the following chart: Local Elected Officials Requirements for Additional Contributions Contributory/Noncontributory Member Status Beginning Service Date as Elected Official Service Credit Additional Employer Contributions Additional Employee Contributions Noncontributory 06/30/2011 or earlier 2x regular rate 0% 0% Noncontributory (elected) 07/01/2011 or later 2x regular rate 2.5% 2.5% Contributory 12/31/2013 or earlier 2x regular rate 0% 0% Contributory (elected) 01/01/2014 or later 2x regular rate 2.5% 2.5% (2) Any noncontributory local elected official who requests a refund of these contributions shall forfeit all service credit for the period represented by the refund. (c)(1) Pursuant to Arkansas Code § 24-4-101(15)(B), a contributory member who is employed as a local elected official covered by the system shall accrue enhanced service credit on no more than ten (10) actual years of service. (2) A noncontributory member who is employed as a local elected official covered by the system is not subject to the ten-year enhanced service credit accrual limitation under subdivision (c)(1) of this section.