§ 24-7-1603. Provisions of subchapter controlling
(a) (1) This subchapter controls any inconsistent provision of any other law regarding the enrollment and coverage of an employee of a PSHE employer in either the Arkansas Teacher Retirement System retirement plan or an alternative retirement plan that is offered by a PSHE employer. (2) This subchapter is enacted to supersede and specifically control […]
§ 24-7-1604. Coverage for employees enrolled in Arkansas Teacher Retirement System before July 1, 2011
(a) Beginning July 1, 2011, all current employees of a nonmandatory employer that are current members of the Arkansas Teacher Retirement System may continue membership and continue to accrue service credit in the system without any change in participation in the system if: (1) The employee is: (A) Part-time and the employee continues to provide […]
§ 24-7-1605. Optional participation by institution of higher education employers on or after July 1, 2011
(a) (1) A PSHE employer shall adopt and record a policy or designation that identifies which positions at the PSHE employer’s institution of higher education are benefits-eligible for retirement benefits. (2) A new employee of a PSHE employer may participate in the PSHE plan if the employee: (A) Is benefits-eligible as determined by the PSHE […]
§ 24-7-1606. Concurrent participation and certain salary credit prohibited
(a) A benefits-eligible employee shall not participate in an alternate retirement plan and continue to accrue service credit with the Arkansas Teacher Retirement System. (b) If a benefits-eligible employee is first employed by a nonmandatory employer or PSHE employer after July 1, 2011, and is concurrently employed by another retirement system employer, all separate days […]
§ 24-7-1607. Duties and responsibilities of board
The Board of Trustees of the Arkansas Teacher Retirement System may promulgate rules necessary to carry out this subchapter.
§ 24-7-1315. Duty of board of trustees
The Board of Trustees of the Arkansas Teacher Retirement System shall present to the Joint Committee on Public Retirement and Social Security Programs information concerning the statutory authority and actuarial appropriateness of proposed board actions to establish or revise a multiplier, any benefit, or a provision of a deferred retirement option plan.
§ 24-7-1316. Funding objectives of Teacher Deferred Retirement Option Plan — Cost neutrality
As part of its obligation to ensure that the Teacher Deferred Retirement Option Plan is cost neutral to the Arkansas Teacher Retirement System, the Board of Trustees of the Arkansas Teacher Retirement System is authorized to make further adjustments to the plan to make it cost neutral to the Arkansas Teacher Retirement System.
§ 24-7-1501. Title
This subchapter shall be known and may be cited as the “Retirants’ Ad Hoc Increase Act”.
§ 24-7-1502. Benefit generally
(a) (1) The annual benefit payable to eligible retirees, survivors, and beneficiaries of retirants of the Arkansas Teacher Retirement System shall be subject to a one-time ad hoc increase based on the retirant’s years of credited service that is grouped within descending decades as calculated by subtracting the total years of credited service from the […]
§ 24-7-1302. Application — Review
(a) To participate in the Teacher Deferred Retirement Option Plan, the member shall submit a plan application on a form required by the Board of Trustees of the Arkansas Teacher Retirement System. (b) (1) The member’s plan application shall be reviewed by the Arkansas Teacher Retirement System within a reasonable period of time to determine […]