§ 24-7-1313. Limitation on benefit enhancement — Acts 1997, No. 953
(a) A benefit enhancement provided for by § 24-7-1306 shall not be implemented if it would cause the Arkansas Teacher Retirement System’s unfunded actuarial accrued liabilities to exceed an eighteen-year amortization. (b) A benefit enhancement provided for by § 24-7-1306 shall not be implemented by the system until the unfunded actuarial accrued liability is reduced […]
§ 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.
§ 24-7-1302. 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 […]
§ 24-7-1301. Election to participate — Conditions
(a) In lieu of terminating employment and accepting a service retirement benefit pursuant to § 24-7-101 et seq., any person who is a member of the Arkansas Teacher Retirement System and who meets the conditions specified in subsection (b) of this section may elect to participate in the Teacher Deferred Retirement Option Plan and to […]