§ 24-7-729. Adjustment of § 24-7-713 base amount
The base amount in § 24-7-713 will be adjusted at the same time a benefit increase is granted to active members under § 24-7-728.
§ 24-7-730. Required distributions
(a) (1) Notwithstanding the provisions of this subchapter regarding the required dates of distribution of benefits under the Arkansas Teacher Retirement System to former members, the distribution of a former member’s benefits under the system shall in any event be made or begun by April 1 of the calendar year following the later of the […]
§ 24-7-731. Forfeitures
Notwithstanding the provisions of this subchapter, any forfeitures arising from severance of employment, death, or for any other reason shall not be applied to increase the benefit any member would otherwise receive under the Arkansas Teacher Retirement System at any time prior to the termination of the system or the complete discontinuance of employer contributions […]
§ 24-7-732. System termination or discontinuance — Vesting
Notwithstanding the provisions of this subchapter, members’ accrued benefits under the Arkansas Teacher Retirement System shall be one hundred percent (100%) vested: (1) To the extent those benefits are then funded, in the event there is a partial or complete termination of the system or in the event of a complete discontinuance of employer contributions […]
§ 24-7-733. Limitation on benefits
(a) (1) Notwithstanding the provisions of this subchapter, benefits paid under the Arkansas Teacher Retirement System shall not exceed the limitations of the Internal Revenue Code, 26 U.S.C. 415, that are applicable to governmental retirement plans, including without limitation the dollar limitations in of the Internal Revenue Code, 26 U.S.C. 415(b)(1)(A). (2) The annual benefits, […]
§ 24-7-734. Lost payees
(a) (1) Notwithstanding the provisions of this subchapter, each member and each beneficiary of a deceased member shall file with the Board of Trustees of the Arkansas Teacher Retirement System from time to time in writing the post office address and each change of post office address of the member or beneficiary. (2) Any communication […]
§ 24-7-713. Retirement annuity — Simple cost of living adjustment and monthly benefit stipend — Definition
(a) (1) July 1 of each year, retirants, survivors, participants in the Teacher Deferred Retirement Option Plan, and annuity beneficiaries who have been receiving monthly benefits for the previous twelve (12) months shall receive a simple cost of living adjustment. (2) The cost of living adjustment under this section is calculated by multiplying one hundred […]
§ 24-7-735. Contract buyout agreement — Settlements — Judgments — Calculation of benefits
(a) A member shall not accumulate service credit in the Arkansas Teacher Retirement System during the time that payments under a contract buyout agreement, settlement, claim, judgment, arbitration award, decree, or court-ordered payment are paid to the member by the employer unless the member continues to work on-site for the employer. (b) (1) The employer […]
§ 24-7-714. Increase in monthly benefits — Acts 1979, No. 655, and Acts 1981, No. 885
(a) The monthly retirement benefit payable to retirants and beneficiaries of the Arkansas Teacher Retirement System who were retired on or before July 1, 1978, and who were receiving benefits on July 1, 1979, shall be increased as follows: (1) For all benefits to retirants and beneficiaries of the system whose total credited service is […]
§ 24-7-736. Calculation of final average salary — Definition
(a) Compensation in excess of the limitations set forth in the Internal Revenue Code of 1986, 26 U.S.C. 401(a)(17), as it existed on January 1, 2011, shall not be used for purposes of calculating final average salary on which benefits under the Arkansas Teacher Retirement System shall be based. (b) (1) The limitation on compensation […]