As used in this subchapter, unless the context otherwise requires: (1) “Alternate retirement plan” means a retirement plan based on the purchase of contracts providing retirement and death benefits for the instructors and administrative staff of the technical institutes or postsecondary vocational-technical schools of the State of Arkansas and the staff of the Department of […]
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 Career Education and Workforce Development Board may establish and maintain an alternate retirement plan which shall authorize the purchase of contracts providing retirement and death benefits for staff members. (b) Under the plan, staff members shall contribute, to the extent authorized or required, toward the purchase of the contract, which shall be issued […]
(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 under an alternate retirement plan may be […]
(a) The Career Education and Workforce Development Board shall approve 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 giving the approval, the board shall give due consideration to: (1) The nature and extent of the rights and […]
Participation in an alternate retirement plan established pursuant to this subchapter shall be as follows: (1) All staff members shall participate in either the Arkansas Teacher Retirement System or an alternate retirement plan or may participate in both, but participation in both shall be limited to the circumstances described in subdivision (2) of this section; […]
(a) (1) The Department of Career Education shall contribute to the alternate retirement plan on behalf of each participating staff member an amount equal to the contribution made by the State of Arkansas for persons participating in the retirement system. (2) Each staff member shall also contribute to the alternate retirement plan an amount equal […]
Upon the death of an insured eligible employee of an institution of higher education or of an insured eligible employee who is a member of the alternate retirement plan for employees of the Career Education and Workforce Development Board or of a person retired and receiving benefits under the alternate plan, the dependents of the […]
