Reviewing Your Annual Member Statement
As a distinguished active member of the Arkansas Public Employees Retirement System, you have a “vested” interest in this subject, even if you aren’t officially “vested” yet Each year, you should receive an Annual Member Statement in the mail. It is VERY IMPORTANT that you carefully examine this document. Why? This is where you detect any problems with the information we have about you in our system. We will eventually use this same info to calculate your retirement benefits, so it's better to fix any errors sooner rather than later.
This page has been created to assist you in reviewing your Member Statement for accuracy. If you see any information that seems incorrect, please call APERS at (501) 682-7800 or (800) 682-7377. Alternately, you can log in to the Members Self-Service (MSS) portal (click "Members" on the green panel at the top right of the page) and send us a secure message, and APERS will assist you in resolving any concerns.
Below are illustrations and explanations for each segment of the document. Note that the images are from a sample statement and that your actual statement will contain figures pulled from your account.
Section 1: Introduction
This is a brief explanation of the document and our defined benefit retirement system and how it works.
Section 2: Address Box
In the address box, you’ll want to confirm that your name and postal address are correctly spelled and accurate. Any time there’s a change to your name or address, you’ll want to notify YOUR EMPLOYER to update your record.
Section 3: Address Box
This section indicates the statement in your hands is based on the most recently completed fiscal year (rather than the calendar year), and reminds you to review all data closely.
Section 4: Personal Information
This section lists your unique APERS ID, your name, birthdate, gender, and address, as well as your spouse’s information, if applicable. Review the information carefully. Note that you will need your APERS ID to register for access to the Members Self-Service portal on our website.
Section 5: Beneficiary Information
Your designated beneficiary or beneficiaries are listed in this section. Ensure that this information is accurate. If you have any questions, this website is always a great resource, and the APERS office is just a phone call away.
Section 6: Employment History
Check this section closely because it pertains to your service credit, one of the factors in the benefits formula. Contact APERS if something does not look accurate.
Section 7: Account Detail
This section will provide a a month-by-month accounting of your work and earnings for the fiscal year, July 1st through June 30th. Note these figures might differ from figures calculated for the calendar year, January 1st through December 31st.
Section 8: Account Summary
Whereas your Employment History in Section 6 shows the ‘actual’ service credit that you’ve earned as an employee of at least one APERS-covered employer, this section shows the total of any service credit that you’ve earned or purchased. It also shows the current total of your employee contributions (contributory members). Contact APERS if anything does not appear correct.
Section 9: Reciprocal Service Summary
This section shows any service credit earned in a reciprocal system. For more information on this topic, see out Reciprocal Service Brochure.
Section 10: Final Average Compensation (FAC)
First and most importantly, make sure those compensation numbers are correct. If you think there’s a problem (for instance, you believe earnings from a different fiscal year were higher than the three years listed) contact APERS by phone or the MSS online. Add the three numbers in the ‘Actual Compensation’ column – then divide by three, giving you the average. The FAC is a key figure in the calculation of your retirement benefits.
Section 11: Retirement Requirements
To retire with benefits (normal, reduced, or disability) from the system, you have to first meet the retirement requirements listed in this section.
Section 12: Estimated Retirement Eligibility
APERS forecasts your ‘normal’ retirement date based on age OR service credit, whichever qualifies you first. This is the earliest date that you meet requirements for a normal retirement. Working beyond this point could have significant financial benefits that are worth exploring in advance, such as DROP, PAW, or even a higher benefit multiplier for long-serving members.
Section 13: Estimated Retirement Benefit
To use the table in this section, find the column containing the closest number to your FAC; then find the number of years in the Service Column closest to the amount of service you’ve acquired. The intersection of these 2 numbers reveals the estimate of your monthly annuity. Estimates are shown for both Contributory Plan (C) and Non-contributory Plan (N) members.
Section 14: Member Self-Service Portal
This website contains a Member Login feature at the top of every page. The first time you use it, you’ll need to register using your APERS ID, indicated on your Member Statement as shown in Section 3 (above). Reminder: Be sure to keep your MSS password in a safe place and do not share it with anyone.
Section 15: Member Information Notice
The last section is a disclaimer indicating that the statement is essentially an executive summary of your account data.