Arkansas Administrative Code
Agency 075 - PUBLIC EMPLOYEES RETIREMENT SYSTEM
Rule 075.00.23-002 - APERS Rule 410-Purchase of AR National Guard or Armed Forces Reserve Service Credit

Universal Citation: AR Admin Rules 075.00.23-002
Current through Register Vol. 49, No. 9, September, 2024

Under Ark. Code Ann. § 24-2-503, members of the Arkansas Public Employees' Retirement System are eligible to purchase service credit for time served in the Arkansas National Guard or armed forces reserve.

A copy of the Form DD-214, or other authorized military document, is utilized to document active duty (IADT, AD). All other National Guard service (Inactive duty training (IDT), Annual Training (AT) and Active Duty for Training (ADT)) must be documented with a copy of NGB Form 23 or other authorized military document.

Annual salary is defined as "fiscal year salary" that is reported from July of one year to June of the next year. A full year of credited service is defined as "fiscal year" which is from July of one year to June of the next year.

Interest used in the calculation for the purchase of service credit under Ark. Code Ann. § 24-2-503 shall be applied at the same rate as for the purchase of service credit by a member for time served in the United States Armed Forces under Ark. Code Ann. § 24-2-502. When the final average of the three (3) highest annual salaries earned at the time of purchase are utilized, interest will be calculated from the end of the most recent year of credited service to the date of payment of full.

Disclaimer: These regulations may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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