Part 10. Arkansas Teacher Retirement System Rules

24 CAR § 10-1001. Definitions. As used in this subpart: (1) "Manifest injustice” has the same meaning as provided in Arkansas Code § 24-7-202; and (2) “Member”, for the purposes of the staff determination and appeal process, means any member of the Arkansas Teacher Retirement Sys…

24 CAR § 10-1002. Staff determinations — Scope and purpose. (a) This subpart governs the practice and procedures of the Arkansas Teacher Retirement System concerning the adjudication of a claim that concerns any retirement plan or program administered by the system and arises as …

24 CAR § 10-1003. Staff determinations — Extension of deadlines. (a)(1) The Board of Trustees of the Arkansas Teacher Retirement System and the Executive Director of the Arkansas Teacher Retirement System may extend any deadline applicable to a member's appeal upon a showing of g…

24 CAR § 10-1004. Staff determinations — Informal resolutions. (a)(1) A member’s claim may be resolved informally through correspondence or conference between the member and the staff of the Arkansas Teacher Retirement System. (2) All reasonable efforts shall be made to informall…

24 CAR § 10-1005. Staff determinations — Notice of adverse determination. (a)(1) If the staff of the Arkansas Teacher Retirement System makes a determination that is adverse to a member’s claim, the system shall send a staff determination letter to the member if the claim involve…

24 CAR § 10-1006. Staff determinations — Review by executive director. (a)(1) A member shall submit a request for a review of a staff determination by the Executive Director of the Arkansas Teacher Retirement System in writing. (2) A member shall not be required to resubmit any d…

24 CAR § 10-1007. Staff determinations — Appeals — Initiation of appeal to the board. (a) A review determination of the Executive Director of the Arkansas Teacher Retirement System may be appealed by the member to the Board of Trustees of the Arkansas Teacher Retirement System. (…

24 CAR § 10-1008. Staff determinations — Appeals — Assignment of hearing officer. (a)(1) All member appeals of a review determination shall be assigned to a hearing officer. (2) The Executive Director of the Arkansas Teacher Retirement System or his or her designee shall appoint …

24 CAR § 10-1009. Staff determinations — Appeals — Filing documents. (a) Following the appointment of a hearing officer, all correspondence, documents, requests, submissions, filings, and other documents relating to an appeal shall be mailed or hand delivered to the: Arkansas Tea…

24 CAR § 10-101. Information for public guidance. (a)(1) This subpart provides general rules for the organization and operation of the Arkansas Teacher Retirement System. (2) Additional and more specific information on the policies and rules of the system may be found under the A…

24 CAR § 10-1010. Staff determinations — Appeals — Hearings. (a) The hearing: (1) Is an administrative hearing before the hearing officer; and (2) Is not a hearing before the Board of Trustees of the Arkansas Teacher Retirement System. (b)(1) All hearings shall be conducted accor…

24 CAR § 10-1011. Staff determinations — Appeals — Post-hearing briefs. (a)(1) Upon the completion of the hearing, the hearing officer may allow the parties to submit post-hearing briefs to be included as part of the record on appeal. (2) The decision on whether or not to allow t…

24 CAR § 10-1012. Staff determinations — Appeals — Proposed orders. (a) After the hearing officer receives all evidence, arguments, and, if applicable, post-hearing briefs, the record before the hearing officer shall be officially closed. (b)(1) After the record before the hearin…

24 CAR § 10-1013. Staff determinations — Appeals — Objections to proposed orders. (a)(1) The member shall have the right to file a written statement of objections outlining any objections, exceptions, and arguments that the member determines should be considered by the Board of T…

24 CAR § 10-1014. Staff determinations — Appeals — Consideration of proposed orders by the board. (a) The Board of Trustees of the Arkansas Teacher Retirement System shall render a final determination on the hearing officer’s proposed order. (b)(1) The board’s consideration of th…

24 CAR § 10-1015. Staff determinations — Appeals — Settlement authority. (a) With the member’s written consent or, if applicable, the written consent of the member’s counsel, the Executive Director of the Arkansas Teacher Retirement System may suspend his or her review of a membe…

24 CAR § 10-1016. Staff determinations — Appeals — Rights of members under the Arkansas Administrative Procedure Act. (a) A member who receives an adverse final order from the Board of Trustees of the Arkansas Teacher Retirement System retains certain rights under the Arkansas Ad…

24 CAR § 10-1017. Staff determinations — Appeals — Ex parte communications. (a) The Arkansas Administrative Procedure Act, Arkansas Code § 25-15-201 et seq., prohibits direct or indirect communications between the members and staff of the Arkansas Teacher Retirement System and a …

24 CAR § 10-1018. Manifest injustice. (a) The Board of Trustees of the Arkansas Teacher Retirement System may waive or modify the impact of a rule, provision, or law applicable to the Arkansas Teacher Retirement System that does not violate a federal law or jeopardize the tax qua…

24 CAR § 10-1019. Manifest injustice — Referrals. (a) A manifest injustice referral shall be made to the Executive Director of the Arkansas Teacher Retirement System. (b)(1) The following persons or entities may submit a manifest injustice referral to the executive director: (A) …

24 CAR § 10-102. Description of the system. (a) The Arkansas Teacher Retirement System is a cost-sharing, multiple-employer, defined benefit pension plan established on March 17, 1937, by authority of the General Assembly under Arkansas Code § 24-7-101 et seq. (b) The system is o…

24 CAR § 10-1020. Manifest injustice — Authority of executive director. (a) With the member’s written consent or, if applicable, the written consent of the member’s counsel, the Executive Director of the Arkansas Teacher Retirement System may suspend his or her review of a member…

24 CAR § 10-1021. Manifest injustice — Manifest Injustice Committee. (a) The Arkansas Teacher Retirement System’s general counsel and two (2) members of senior management designated by the Executive Director of the Arkansas Teacher Retirement System shall be the sole members of t…

24 CAR § 10-1022. Manifest injustice — Review of recommendation. (a)(1) The Executive Director of the Arkansas Teacher Retirement System shall review the manifest injustice referral and the Manifest Injustice Committee's basis for the recommendation. (2)(A) The executive director…

24 CAR § 10-103. Organization and operation of the board. (a) The officers of the Board of Trustees of the Arkansas Teacher Retirement System are the chair and vice chair. (b) The election of officers is held in odd numbered years at the first regular meeting of the board after t…

24 CAR § 10-104. Rulemaking. (a) The Board of Trustees of the Arkansas Teacher Retirement System is authorized by the General Assembly to promulgate rules. (b) The Arkansas Teacher Retirement System follows the requirements of the Arkansas Administrative Procedure Act, Arkansas C…

24 CAR § 10-1101. Retirement fund asset accounts. (a) In accordance with Arkansas Code § 24-7-405, the Board of Trustees of the Arkansas Teacher Retirement System establishes the following accounts to manage the Arkansas Teacher Retirement System's fund assets and liabilities: (1…

24 CAR § 10-1201. Purpose, construction, and establishment of plan and trust. (a) The Arkansas Teacher Retirement System Benefit Restoration Plan and Trust is established effective upon final adoption by the Board of Trustees of the Arkansas Teacher Retirement System pursuant to …

24 CAR § 10-1202. Definitions. (a) The definitions in this section are exclusive to the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust unless stated otherwise. (b) As used in this subpart: (1) “Actuary” means the actuary selected by the Board of Trustees of…

24 CAR § 10-1203. Participation. (a)(1) All retirees and beneficiaries of the Arkansas Teacher Retirement System are eligible to participate in the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust if their retirement benefits from the system for a plan year a…

24 CAR § 10-1204. Payment of benefits. (a)(1) A participant in the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust shall receive a benefit equal to the amount of retirement income that would have been payable by the Arkansas Teacher Retirement System to, or …

24 CAR § 10-1205. Contributions and funding. (a)(1) The Arkansas Teacher Retirement System Benefit Restoration Plan and Trust is and shall remain unfunded and the rights, if any, of any person to any benefits under the plan are limited to those specified in the plan. (2) The plan…

24 CAR § 10-1206. Trust fund. (a)(1) The Benefit Restoration Trust Fund is established pursuant to Arkansas Code § 24-7-305, separate from the retirement fund, to hold employers’ contributions to the trust fund. (2) The trust fund is maintained solely to provide benefits under a …

24 CAR § 10-1207. Administration. (a)(1) The Board of Trustees of the Arkansas Teacher Retirement System has the exclusive authority to control and manage the operation and administration of the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust. (2) The board …

24 CAR § 10-1208. Plan amendments. The Board of Trustees of the Arkansas Teacher Retirement System, from time to time, may amend, suspend, or terminate any or all of the provisions of the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust as may be necessary to…

24 CAR § 10-1209. Nonassignability and exemption from taxation and execution. The interests of participants under the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust: (1) Are exempt from any state, county, municipal, or local tax; (2) Are not subject to exec…

24 CAR § 10-1210. Miscellaneous. (a) The Board of Trustees of the Arkansas Teacher Retirement System, the employers, and the administrator, if any, do not guarantee that any particular federal or state income, payroll, or other tax consequence will occur because of participation …

24 CAR § 10-1301. Definitions. As used in this subpart: (1) “CASH Program” has the same meaning as “buyout plan” as defined in Arkansas Code § 24-7-505; and (2) “CASH Program payment” means the one-time lump-sum cash payment made to a member who elects to participate in the CASH …

24 CAR § 10-1302. CASH Program. (a) The Board of Trustees of the Arkansas Teacher Retirement System by resolution shall establish and approve the category of members who are eligible to participate in the CASH Program, the CASH Program offering period, and the formula to be used …

24 CAR § 10-1303. CASH Program payment. (a) The tender of a CASH Program payment by the Arkansas Teacher Retirement System to a member who elects to participate in the CASH Program shall: (1) Cancel the member’s membership in the system; (2) Extinguish any credited service the me…

24 CAR § 10-1304. CASH Program — Offering period. (a) The Board of Trustees of the Arkansas Trustee Retirement System shall set the dates for any CASH Program offering period. (b)(1) After the board sets a specific CASH Program offering period, only members who submit an election…

24 CAR § 10-1305. CASH Program — Election form. (a)(1) The CASH Program election form shall be made available to members using the Arkansas Teacher Retirement System’s standard procedures. (2) The system shall not be responsible for confirming the member’s receipt of a CASH Progr…

24 CAR § 10-201. General rules for candidacy and voting in trustee elections — Definitions. (a) An undefined term in the rules of the Arkansas Teacher Retirement System shall have the same meaning as provided in Arkansas Code § 24-7-202. (b) As used in this subpart: (1) “Active m…

24 CAR § 10-202. Membership and authority of the board. (a)(1) The general administration and proper operation of the Arkansas Teacher Retirement System is vested in the Board of Trustees of the Arkansas Teacher Retirement System. (2) The board shall consist of eleven (11) electe…

24 CAR § 10-203. Candidacy and voting in trustee elections — Generally. (a) A candidate who is employed in more than one (1) position with a covered employer shall have his or her eligibility determined based on his or her primary position for which he or she receives the greater…

24 CAR § 10-204. Qualifications and voter eligibility for elected trustee positions — Active member trustee positions one – four. (a) The Arkansas congressional district boundaries as defined on the first day of the fiscal year in which an election for an active member trustee po…

24 CAR § 10-205. Qualifications and voter eligibility for elected trustee positions — Active administrator trustee positions five – six. (a) There shall be two (2) active member trustees each of whom shall be employed as an administrator as defined in this subpart. (b) A person i…

24 CAR § 10-206. Qualifications and voter eligibility for elected trustee positions — Nonlicensed trustee position seven. (a) A person is qualified to become a candidate for the nonlicensed trustee position if the person is: (1) An active member with at least five (5) years of ac…

24 CAR § 10-207. Qualifications and voter eligibility for elected trustee positions — At-large active or retired trustee position eight. (a) There shall be one (1) at-large member trustee who is an active or retired member of the Arkansas Teacher Retirement System. (b) A person i…

24 CAR § 10-208. Qualifications and voter eligibility for elected trustee positions — At-large retired member trustee positions nine – eleven. (a) There shall be three (3) retired member trustees who shall be retirees as defined by Arkansas Code § 24-7-202. (b) A person is qualif…