(a) If the participant dies during the period of participation in the Local Police and Fire Deferred Retirement Option Plan, a lump-sum payment equal to the account balance of the participant shall be paid to the participant's survivors or if none, to the participant's estate.(b) A survivor is entitled to the annuity provided under § 24-10-603 based on the service and final average salary at the time the member elected to participate in the plan.Amended by Act 2013, No. 40,§ 16, eff. 2/6/2013.Acts 2003, No. 1734, § 1. (a) If the participant dies during the period of participation in the Local Police and Fire Deferred Retirement Option Plan, a lump-sum payment equal to the account balance of the participant shall be paid to the participant's survivors or if none, to the participant's estate.(b) A survivor is entitled to the annuity provided under § 24-10-603 based on the service and final average salary at the time the member elected to participate in the plan.Amended by Act 2013, No. 40,§ 16, eff. 2/6/2013.Acts 2003, No. 1734, § 1.
Arkansas Legal Code