§ 24-7-720. Lump-sum benefit — Definition
(a) (1) (A) If prior to July 1, 2007, an active member of the Arkansas Teacher Retirement System with five (5) or more years of actual service, including actual service for the year immediately preceding the member’s death, dies in employer service before retirement, then a lump sum of up to ten thousand dollars ($10,000) […]
§ 24-7-725. Limitation on benefit enhancement of § 24-7-702
(a) A benefit enhancement provided by § 24-7-702 shall not be implemented if it would cause unfunded actuarial accrued liabilities of the Arkansas Teacher Retirement System to exceed an eighteen-year amortization. (b) If the system’s unfunded actuarial accrued liabilities exceed an eighteen-year amortization, a benefit enhancement provided for by § 24-7-702 shall not be implemented […]
§ 24-7-726. Computation of benefits based on contract salary
If a person employed in a public school district of this state has received an actual salary reduced below the contract salary due to military service or other government service, the Arkansas Teacher Retirement System shall compute retirement benefits based upon the contract salary and not the reduced salary resulting from the military service or […]
§ 24-7-727. Compounded cost of living adjustments
(a) (1) After July 1, 1999, the Board of Trustees of the Arkansas Teacher Retirement System may compound the cost of living adjustment for all retirants and participants in the Teacher Deferred Retirement Option Plan who have received a monthly retirement benefit for the prior twelve-month period. (2) The amount of the benefit under this […]
§ 24-7-728. Computation of benefits based on life annuity
The Board of Trustees of the Arkansas Teacher Retirement System is authorized by this section to raise the level of benefit to the current retirants and other beneficiaries of the Arkansas Teacher Retirement System to a comparable level increase to match the increase in benefits that would accrue to active members as a result of […]
§ 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, […]