As used in this subchapter: (1) “Alternate retirement plan” means a retirement plan based on the purchase of contracts providing retirement and death benefits for the employees of Arkansas State University, the Division of Higher Education employees, and employees of Arkansas’s state-supported universities, colleges, or junior colleges that are not a part of the University […]
Insofar as the provisions of this subchapter are, or may be, inconsistent with the provisions of any other general or special act, the provisions of this subchapter shall be controlling.
(a) The board of any college and the Arkansas Higher Education Coordinating Board may establish and maintain an alternate retirement plan which shall authorize the purchase of contracts providing retirement and death benefits for staff members and employees of the Division of Higher Education. (b) Under the plan, staff members and division employees shall contribute, […]
(a) An alternate retirement plan may be a separate system or fund or may be one which participates in a larger system or fund with respect to some or all of the benefits provided thereunder. (b) The benefits to be provided for or on behalf of staff members and employees of the Division of Higher […]
(a) The board of each college or university, or the Arkansas Higher Education Coordinating Board, shall designate the companies from which contracts are to be purchased under the alternate retirement plan and shall approve the form and contents of the contracts. (b) In making the designation and giving the approval, the board or state board […]
Participation in an alternate retirement plan established pursuant to this subchapter shall be as follows: (1) Any staff member employed or appointed by a college or university on or after the establishment of its alternate retirement plan shall participate in the plan or in the Arkansas Teacher Retirement System; (2) Any staff member employed or […]
(a) (1) Any college or university which elects to establish and maintain an alternate retirement plan, and the Arkansas Higher Education Coordinating Board if it so elects, shall contribute to that plan on behalf of each staff member who elects to participate in the alternate retirement plan, or employee of the Division of Higher Education, […]
