§ 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.
§ 24-7-1603. 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 […]
§ 24-7-1308. Termination of participation in Teacher Deferred Retirement Option Plan — Distribution options
(a) (1) The member’s participation in the Teacher Deferred Retirement Option Plan shall cease when the member files an application for voluntary retirement with the Arkansas Teacher Retirement System under § 24-7-701 and is granted a monthly retirement benefit by the system. (2) The system shall cancel a plan participant’s retirement benefits, and the plan […]
§ 24-7-1309. Benefits from Arkansas Teacher Retirement System
In the event that a Teacher Deferred Retirement Option Plan participant applies for benefits from the Arkansas Teacher Retirement System pursuant to § 24-7-704 related to disability retirement, the application shall be treated as an application for voluntary retirement pursuant to § 24-7-701, and no benefits other than those that would be payable without regard […]
§ 24-7-1310. Death of participant
(a) In the event that a Teacher Deferred Retirement Option Plan participant dies, the benefits payable from the plan shall be determined according to § 24-7-710 and the rules and resolutions of the Arkansas Teacher Retirement System. (b) (1) However, the plan participant’s eligible surviving spouse may choose to receive the plan benefit in a […]
§ 24-7-1311. Term of participation in Teacher Deferred Retirement Option Plan
(a) The Arkansas Teacher Retirement System’s monthly deposit into the member’s Teacher Deferred Retirement Option Plan shall not exceed one (1) plan term of ten (10) consecutive years, beginning with the member’s plan date. (b) Once a member participates in the plan, the member shall no longer accrue service credit under any state-supported retirement system, […]
§ 24-7-1312. Federal taxation
(a) The Teacher Deferred Retirement Option Plan is intended to operate in accordance with 26 U.S.C. § 415 and other applicable sections of the Internal Revenue Code in a manner that protects the tax-qualified status of the system. (b) Any provision of the plan that is found to be in conflict with an applicable provision […]