Tier Two Trooper

Post-Retirement Death Benefits

Tier Two Post-Retirement Death Benefits

At retirement a member is entitled to a straight life annuity which offers the highest annuity amount. The straight life annuity ends when the member dies, and it does not continue payments to a beneficiary. Retirement benefits are payable to members for their lifetime. Members can elect one of the annuity options below to receive a reduced annuity to provide benefits to a beneficiary after their death.

Option A60 – 60 months Certain and Life Annuity

Under Option A60, if the retiree dies before receiving 60 monthly payments, then the retiree’s designated beneficiaries will receive monthly payments for the remainder of the 60 months. The member’s reduced annuity will be 96% of the straight life.

Option A120 – 120 Months Certain and Life Annuity

Under Option A120, if the retiree dies before receiving 120 monthly payments, then the retiree’s designated beneficiaries will receive monthly payments for the remainder of the 120 months. The reduced annuity will be 90% of the straight life annuity.

Option B50 – 50% Survivor Beneficiary Annuity

Under Option B50, the retiree’s designated beneficiary will receive 50% of the reduced annuity for that person’s lifetime. The beneficiary must be either his or her spouse for at least six months immediately preceding the retirement date or a dependent child aged 40 years or older whom you claimed as a dependent on the previous year’s federal tax return. The reduced annuity to the retiree will be 83% if the retiree’s and beneficiary’s age are the same. This amount will be adjusted if their age is not the same.

Option B75 – 75% Survivor Beneficiary

Under Option B75, the retiree’s designated beneficiary will receive 75% of the reduced annuity for that person’s lifetime. The beneficiary must be either his or her spouse for at least six months immediately preceding the retirement date or a dependent child aged 40 years or older whom you claimed as a dependent on the previous year’s federal tax return. The reduced annuity will be 75% if the retiree’s and beneficiary’s age are the same. This amount will be adjusted if their ages are not the same. Member may participate in the DROP for up to seven years.

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Disclaimer on Benefits and Rights

Disclaimer Concerning Benefit Calculations, Benefit Projections, Counseling, and Certain Conditions Regarding APERS Benefits and Rights

The purpose of this Disclaimer is to summarize, in plain language, existing APERS policy concerning benefit calculations, benefit projections, counseling, and certain conditions regarding APERS benefits and rights. This Disclaimer does not reflect any alteration or amendment of existing APERS policy. This site includes general information about APERS programs and benefits and may not represent or include completely the law and/or rules that govern APERS. Arkansas law and/or administrative rules will supersede any information in conflict.

APERS strives to provide accurate information and assistance to plan participants who have questions regarding their APERS benefits. All information and calculations concerning benefits are based upon current law and policy, even though information often concerns future benefits. Likewise, laws and policies affecting plan participants are subject to change from time to time. The Arkansas General Assembly, U. S. Congress, federal agencies, and the APERS Board of Trustees may change how benefits are calculated and change other rights of plan participants. Any benefit projection or information provided by APERS is subject to future law or policy that is applicable to APERS.

APERS staff depends upon information provided by the plan participants and offers counseling and projects future benefit estimates based upon that information. Such estimates can vary materially from actual results. Calculations concerning benefits, as well as the information APERS provides during counseling, can be materially affected if the plan participant provides inaccurate or incomplete information, or omits material facts. Plan participants are presumed to have knowledge of all publicly available laws and policies that affect their APERS benefits and rights. APERS is under no duty to ensure that plan participants are specifically informed of a new law or policy unless required within the law or policy itself. If APERS attempts to notify plan participants who may be affected by a change of a law or policy, the failure to notify a specific plan participant does not create any right or cause of action for the plan participant.

APERS does not provide plan participants with specific recommendations regarding retirement options, tax advice, or legal advice. Each plan participant is solely responsible for determining whether benefit calculations, benefit projections, benefit estimates, and retirement plan options are suitable for the plan participant based upon his or her specific retirement objectives and personal and financial situation. APERS encourages plan participants to consult their own lawyer, accountant, tax professional, or other retirement adviser before making a decision that affects their benefits and rights regarding APERS.

Federal law and policy, state law and policy, APERS records and documents, and accurate data always govern the final determination of plan participant benefits and rights. An error by APERS does not create any common law rights on behalf of the plan participant. The rights of a plan participant are solely governed by the rights set forth in law and policy applicable to APERS.