(a) It is found and determined by the General Assembly that: (1) The establishment of the Post-Secondary Education Plan is a historical component of retirement legislation that seeks to develop a more equitable retirement system for members of the Arkansas Teacher Retirement System; and (2) Confusion about the intent of the General Assembly concerning the […]
As used in this subchapter: (1) “Alternative retirement plan” means an optional retirement plan based on the purchase of contracts providing retirement and death benefits for a benefits-eligible employee of a post-secondary or higher education employer; (2) “Benefits-eligible” means a class of employees, determined at the discretion of a post-secondary or higher education employer, eligible […]
(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 […]
(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 […]
(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 […]
(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 […]
The Board of Trustees of the Arkansas Teacher Retirement System may promulgate rules necessary to carry out this subchapter.
