1. (a) Any member of the Arkansas District Judge Division of the Arkansas Public Employees’ Retirement System who has eight (8) years or more of actual service in the Arkansas Public Employees’ Retirement System, including service in the former Arkansas District Judge Retirement System, may elect to retire and receive retirement benefits at any time after reaching age sixty-two (62) and before reaching age sixty-five (65).

2. (b) The retirement benefits of a member electing to retire before age sixty-five (65) with less than sixteen (16) years of actual service shall be reduced:

   1. (1) Six percent (6%) for each full year; and
   2. (2) Proportionately for any part of a year that the judge retires before reaching age sixty-five (65).

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "611 – 2009 (5) – Eligibility for Benefits – Early Retirement"