(a) (1) The financial objective of the Arkansas Teacher Retirement System is to establish and receive contributions that expressed as percentages of active member payroll will remain approximately level from generation to generation of Arkansas citizens. (2) Contributions received each year shall be sufficient: (A) To fully cover the costs of benefit commitments being made […]
(a) All assets of the Arkansas Teacher Retirement System shall constitute a single trust fund, and the Board of Trustees of the Arkansas Teacher Retirement System shall be the trustees of the fund. (b) (1) The custodian of system assets shall be the Treasurer of State or other financial institutions or depositories as allowed under […]
(a) All assets of the Arkansas Teacher Retirement System shall be held for the sole purpose of paying benefits and making disbursements in accordance with the provisions of this act and shall be used for no other purpose whatsoever, unless the assets are used to purchase or construct a building to be used for the […]
In the event of default in payment of the principal or interest of any investment obligation held by the Arkansas Teacher Retirement System where the issuer of the obligation receives moneys from the State of Arkansas, the default shall be certified by the Board of Trustees of the Arkansas Teacher Retirement System to the Treasurer […]
The assets of the Arkansas Teacher Retirement System shall be recorded in accounts established by the Board of Trustees of the Arkansas Teacher Retirement System, as necessary, to manage the system’s fund assets.
(a) (1) The members’ deposit account is the account: (A) In which member contributions are accumulated; (B) From which member refunds of contributions are paid; and (C) From which transfers are made as provided in this act. (2) Employer contributions that are paid by an employee instead of an employer shall be: (A) Credited to […]
(a) The employer accumulation account is the account in which shall be accumulated the employer’s contributions to the Arkansas Teacher Retirement System, and from which shall be made transfers as provided in this act. (b) Upon the retirement of a member, the difference between his or her annuity reserve and his or her accumulated contributions […]
(a) The retirement reserve account shall be the account from which shall be paid all annuities and benefits in lieu of annuities payable as provided in this act to retirants who retired on account of superannuation or disability and to beneficiaries of such retirants. (b) If a disability retirant returns to teaching service: (1) The […]
The survivor benefit account shall be the account from which shall be paid survivor benefits payable as provided in this act.
(a) The income-expense account shall be the account to which shall be credited all investment income from invested assets of the Arkansas Teacher Retirement System. It shall also be the account in which shall be accumulated the contributions made by employers for the administrative expenses of the system and from which shall be made annual […]
(a) (1) If any participating employer fails to remit to the Arkansas Teacher Retirement System contributions that are required by law, rule, or regulation by the fifteenth day of the month in which the moneys are due, then the system shall impose an interest penalty of eight percent (8%) per annum with a daily interest […]
