§ 24-5-105 - Cost of administration -- Payment of benefits and adjustment of errors. - Arkansas Statutes

State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-5 > Subchapter-1 > 24-5-105

24-5-105. Cost of administration -- Payment of benefits and adjustment of errors.

(a) The cost of administering the plan shall be borne by the Arkansas State Highway and Transportation Department, except that the Arkansas State Highway Employees' Retirement System shall pay the expenses incurred for the actuary, the consultant for investments, fees for the members of the medical board of the system, expenses associated with automating the accounting needs of the system, and forms purchased from vendors and identified by letterhead printing as those of the Arkansas State Highway Employees' Retirement System.

(b) (1) The Treasurer of State shall pay retirement benefits, as defined in this chapter, to retirants only on vouchers signed by the executive secretary of the system, or other authorized person, and on warrants or checks issued by the Auditor of State or other designated officer of the state.

(2) (A) The designated disbursing officers for the system are authorized to complete and sign one (1) certification for each state voucher or other designated document that authorizes the Auditor of State, or other official, to draw a state warrant or check on a fund administered by the system.

(B) (i) The voucher or other authorizing document can consist of one (1) or more pages.

(ii) In the event that more than one (1) page is used, then the designated disbursing officer is to manually sign the last page only, and any certification is to be so worded that it will apply to all pages of the document.

(c) (1) Should any change or error in the records of the system result in any member's receiving more or less than he would have been entitled to receive had the records been correct, the Board of Trustees of the Arkansas State Highway Employees' Retirement System, upon discovery of the error and so far as is practicable, shall adjust the payments in such a manner that the benefit to which the member was justly entitled shall be paid.

(2) In the event that an overpayment is made to anyone, every legal effort shall be made to recover the overpayment.

State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-5 > Subchapter-1 > 24-5-105

24-5-105. Cost of administration -- Payment of benefits and adjustment of errors.

(a) The cost of administering the plan shall be borne by the Arkansas State Highway and Transportation Department, except that the Arkansas State Highway Employees' Retirement System shall pay the expenses incurred for the actuary, the consultant for investments, fees for the members of the medical board of the system, expenses associated with automating the accounting needs of the system, and forms purchased from vendors and identified by letterhead printing as those of the Arkansas State Highway Employees' Retirement System.

(b) (1) The Treasurer of State shall pay retirement benefits, as defined in this chapter, to retirants only on vouchers signed by the executive secretary of the system, or other authorized person, and on warrants or checks issued by the Auditor of State or other designated officer of the state.

(2) (A) The designated disbursing officers for the system are authorized to complete and sign one (1) certification for each state voucher or other designated document that authorizes the Auditor of State, or other official, to draw a state warrant or check on a fund administered by the system.

(B) (i) The voucher or other authorizing document can consist of one (1) or more pages.

(ii) In the event that more than one (1) page is used, then the designated disbursing officer is to manually sign the last page only, and any certification is to be so worded that it will apply to all pages of the document.

(c) (1) Should any change or error in the records of the system result in any member's receiving more or less than he would have been entitled to receive had the records been correct, the Board of Trustees of the Arkansas State Highway Employees' Retirement System, upon discovery of the error and so far as is practicable, shall adjust the payments in such a manner that the benefit to which the member was justly entitled shall be paid.

(2) In the event that an overpayment is made to anyone, every legal effort shall be made to recover the overpayment.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-5 > Subchapter-1 > 24-5-105

24-5-105. Cost of administration -- Payment of benefits and adjustment of errors.

(a) The cost of administering the plan shall be borne by the Arkansas State Highway and Transportation Department, except that the Arkansas State Highway Employees' Retirement System shall pay the expenses incurred for the actuary, the consultant for investments, fees for the members of the medical board of the system, expenses associated with automating the accounting needs of the system, and forms purchased from vendors and identified by letterhead printing as those of the Arkansas State Highway Employees' Retirement System.

(b) (1) The Treasurer of State shall pay retirement benefits, as defined in this chapter, to retirants only on vouchers signed by the executive secretary of the system, or other authorized person, and on warrants or checks issued by the Auditor of State or other designated officer of the state.

(2) (A) The designated disbursing officers for the system are authorized to complete and sign one (1) certification for each state voucher or other designated document that authorizes the Auditor of State, or other official, to draw a state warrant or check on a fund administered by the system.

(B) (i) The voucher or other authorizing document can consist of one (1) or more pages.

(ii) In the event that more than one (1) page is used, then the designated disbursing officer is to manually sign the last page only, and any certification is to be so worded that it will apply to all pages of the document.

(c) (1) Should any change or error in the records of the system result in any member's receiving more or less than he would have been entitled to receive had the records been correct, the Board of Trustees of the Arkansas State Highway Employees' Retirement System, upon discovery of the error and so far as is practicable, shall adjust the payments in such a manner that the benefit to which the member was justly entitled shall be paid.

(2) In the event that an overpayment is made to anyone, every legal effort shall be made to recover the overpayment.