Arkansas Administrative Code

24 CAR § 10-802. Survivors. (a) The law in effect on the date of a qualifying member’s death shall determine the: (1) Eligibility of a qualifying member’s spouse or child to receive survivor annuity benefits; (2) Amount of the survivor annuity benefits to be received by an eligib…

24 CAR § 10-803. Survivors — Qualifying members. (a) A member shall be considered active for the purpose of an eligible survivor qualifying for survivor annuity benefits under Arkansas Code § 24-7-710 if: (1) The member has at least: (A) Ten (10) days of service credit in each pr…

24 CAR § 10-804. Survivors — Surviving spouse. (a) An eligible survivor of a qualifying member may receive survivor annuity benefits after the death of the qualifying member. (b) Unless a qualifying member designates one (1) or more alternative residue beneficiaries by written fo…

24 CAR § 10-805. Survivors — Alternative residue beneficiary. (a) A member may change his or her alternative residue beneficiary designation and designate his or her spouse as a residue beneficiary under Arkansas Code § 24-7-710 by documenting the change on a form provided and ap…

24 CAR § 10-806. Survivors — T-DROP plan participant. (a)(1) A participant in the Teacher Deferred Retirement Option Plan may designate one (1) or more alternative residue beneficiaries to receive a lump-sum payment of his or her T-DROP benefits in lieu of his or her surviving sp…

24 CAR § 10-807. Survivors — Dependent children. (a)(1) A child of a qualifying member is eligible to receive a survivor annuity benefit under Arkansas Code § 24-7-710 if the child qualifies as a dependent child. (2) A qualifying member’s child shall be eligible to qualify as a d…

24 CAR § 10-810. Survivors — Dependent children — Incapacitated child. A qualifying member’s child who qualifies as a dependent child because he or she has been adjudged physically or mentally incapacitated by a court of competent jurisdiction and for whom a guardian has been app…

24 CAR § 10-811. Survivors — Dependent children — Return to work and disability retirees. (a) A dependent child annuity shall be payable to a surviving child of a disability retiree or a retiree who dies after returning to work if the child: (1) Qualifies as a dependent child and…

24 CAR § 10-812. Survivors — Dependent children — Calculation and payment of survivor annuity. (a) The amount of the survivor annuity benefit payable to a dependent child shall be the amount provided in Arkansas Code § 24-7-710. (b) The highest of the following shall be used to c…

24 CAR § 10-813. Survivors — Disability retirees. (a) If a member receives final approval for disability retirement and dies before receiving the first disability retirement benefit payment, the member’s disability retirement benefits shall be paid to one (1) or more option benef…

24 CAR § 10-814. Survivors — Annuity benefits payable by reciprocal systems. (a) If survivor annuity benefits are payable by more than one (1) reciprocal system to one (1) or more eligible survivors of a deceased qualifying member, the survivors shall not receive, as a percentage…

24 CAR § 10-815. Survivors — Lump-sum death benefit — Qualification. (a) A member of the Arkansas Teacher Retirement System who is active, retired, or a T-DROP plan participant and accrues the required amount of actual service at the time of his or her death may qualify for a lum…

24 CAR § 10-816. Survivors — Lump-sum death benefit — Amount and tax exemption. (a)(1) The amount of the lump-sum death benefit may be set by a resolution or rules adopted by the Board of Trustees of the Arkansas Teacher Retirement System in an amount of up to ten thousand dollar…

24 CAR § 10-817. Survivors — Lump-sum death benefit — Beneficiary designations and authorized agents. (a)(1) A member may designate one (1) or more natural persons or a duly formed legal entity, including a corporation, trust, partnership, or other legal entity, as his or her lum…

24 CAR § 10-818. Survivors — Lump-sum death benefit — Distribution, waiver, and assignment. (a) A designated beneficiary shall submit the following forms and documents to the Arkansas Teacher Retirement System before a lump-sum death benefit payment is issued to the designated be…

24 CAR § 10-819. Survivors — Lump-sum death benefit — Overpayments. (a) The Arkansas Teacher Retirement System may deduct and reserves the right to deduct from a qualifying member’s lump-sum death benefit any amount owed to the system by the qualifying member under Arkansas Code …

24 CAR § 10-820. Survivors — Lump-sum death benefit — Transfers to minors. The Arkansas Teacher Retirement System shall comply with all applicable laws relating to the distribution of a lump-sum death benefit including the Arkansas Uniform Transfers to Minors Act, Arkansas Code §…

24 CAR § 10-821. Qualified domestic relations order. (a) The model qualified domestic relations order adopted by the Arkansas Teacher Retirement System pursuant to Arkansas Code § 9-18-103(b) shall be used by a member if a court intends to divide the member’s retirement benefits …

24 CAR § 10-822. Qualified domestic relations order — Limitations. (a) A QDRO shall not require the Arkansas Teacher Retirement System to: (1) Provide an alternate payee with any type or form of benefit or option not otherwise available to the member; (2) Provide an alternate pay…

24 CAR § 10-823. Qualified domestic relations order — Computation of benefit payments. (a)(1) The Arkansas Teacher Retirement System shall compute an alternate payee's monthly annuity benefit under a QDRO accepted by the system by using the benefit formula in effect at the time o…

24 CAR § 10-824. Qualified domestic relations order — Eligibility to receive benefits. (a) The member or the alternate payee may file a QDRO with the Arkansas Teacher Retirement System before the member’s retirement or termination of covered employment. (b)(1) An alternate payee …

24 CAR § 10-825. Qualified domestic relations order — Enrollment of alternate payee. (a)(1) The alternate payee shall notify the Arkansas Teacher Retirement System of a change of his or her mailing address and verify annually his or her address with the system beginning one (1) y…

24 CAR § 10-826. Qualified domestic relations order — Benefit payments — Overpayments. (a) The Arkansas Teacher Retirement System shall have the right to: (1) Make any necessary correction to the monthly annuity benefit paid under a QDRO accepted by the system; and (2) Recover an…

24 CAR § 10-827. Qualified domestic relations order — Benefit payments — Death of member or alternate payee. (a)(1) Any benefit that would be due to the alternate payee under a QDRO accepted by the Arkansas Teacher Retirement System shall revert back to the member if the alternat…

24 CAR § 10-828. Qualified domestic relations order — Cancellation of retirement — Order voiding qualified domestic relations order. (a)(1) If a member cancels his or her retirement, the Arkansas Teacher Retirement System may recoup any benefits paid to an alternate payee from th…

24 CAR § 10-829. Lost payees and benefit forfeitures. (a)(1) Each member and beneficiary of a deceased member is responsible for filing and shall file his or her respective current post office address and any subsequent change of address with the Arkansas Teacher Retirement Syste…

24 CAR § 10-901. Definition. (a) As used in this subpart, “Internal Revenue Code” means the same as defined in Arkansas Code § 24-7-202. (b) The definition of “Internal Revenue Code” shall apply to the policies and rules of the Arkansas Teacher Retirement System.

24 CAR § 10-902. Compliance with federal law. (a) The Executive Director of the Arkansas Teacher Retirement System is authorized and directed to: (1) Operate the Arkansas Teacher Retirement System in accordance with the requirements of the Internal Revenue Code of 1986, 26 U.S.C.…

24 CAR § 15-101. Amortization period for unfunded actuarial accrued liability. Adopted amortization period for actuarial purposes, unfunded liabilities, of thirty (30) years.

24 CAR § 15-102. Pro-rata benefit. Authorized pro-rata benefit payments when eligibility begins on some date other than the first of the month.

24 CAR § 15-103. Recipient benefit. In the event that a retiree or a survivor of a retiree dies, the recipient shall be entitled to benefits for the entire month in which death occurs.

24 CAR § 15-105. Installment payment. The Board of Trustees of the Arkansas Judicial Retirement System adopted an installment payment plan as follows: (1) A member may enter in an agreement with the Arkansas Judicial Retirement System to pay the total amount due in twenty-four (2…

24 CAR § 15-106. Direct deposit. Authorized direct deposit of annuity payments to retirees and beneficiaries who elected to receive payments in such a manner.

24 CAR § 15-107. Refund repayment. The Board of Trustees of the Arkansas Judicial Retirement System approved Repayment of Refund Policy as follows: (1) An active judge may receive credit for a previous period of service by repaying the contributions refunded to him or her, plus s…

24 CAR § 15-108. Investment allocation ratio. Replaced by Investment Policy adopted February 5, 1998.

24 CAR § 15-109. Interest rate for prior service. The Board of Trustees of the Arkansas Judicial Retirement System adopted seven and one-half percent (7.5%) as the interest rate to charge on prior service purchases under Arkansas Code § 24-8-207.

24 CAR § 15-110. Approval of requests for retirement benefits. (a) The Board of Trustees of the Arkansas Judicial Retirement System adopted a resolution authorizing the Executive Director of the Arkansas Judicial Retirement System to approve all applications for retirement benefi…

24 CAR § 15-111. Purchase of previous service by a judge. A judge may purchase previous service for time served as a circuit judge, chancery judge, Court of Appeals judge, or Supreme Court justice, and the judge will then be considered a member of the Arkansas Judicial Retirement…

24 CAR § 15-112. Quorum requirement — Concurring votes — Proxy voting. (a) Three (3) members of the Board of Trustees of the Arkansas Judicial Retirement System shall constitute a quorum at any meeting of the board, and at least three (3) concurring votes shall be necessary for a…

24 CAR § 15-113. Contributions for military service credit. In those instances where federal law requires that a member receive credit in the Arkansas Judicial Retirement System for service and earnings that the member would have received had the member not been called to active …

24 CAR § 15-114. Mandatory direct deposit. (a) Persons first receiving monthly benefits from the Arkansas Judicial Retirement System on or after September 1, 2003 shall be required to participate in the electronic direct deposit program. (b) Persons receiving monthly benefits bef…

24 CAR § 15-115. Arkansas Judicial Retirement System reciprocal members numerator. (a) In accordance with Arkansas Code § 24-2-402(7)(A)(i), when calculating an Arkansas Judicial Retirement System benefit for a reciprocal member, only actual service as a judge will be used in the…

24 CAR § 15-116. Qualified domestic relations orders. (a) In accordance with Acts 1993, No. 1143, the Arkansas Judicial Retirement System will comply with qualified domestic relations orders issued by circuit courts in the State of Arkansas that meet the following conditions: (1)…

24 CAR § 15-117. Reassessment of disability determination and termination of disability benefits. (a) In the event any disability retiree under Arkansas Code § 24-8-217, or any successor statute, determines that he or she is eligible to return to covered employment in a regular j…

24 CAR § 15-118. Implementation of Acts 2009, No. 744 — Retirement incentive benefits. (a) The retirement incentive benefits contemplated by Acts 2009, No. 744, shall apply only to actual judicial service that is rendered after the effective date of Acts 2009, No. 744, and shall …

24 CAR § 15-119. Suspension of judicial retirement benefits during resumption of full-time judicial service. (a) Any judge or justice who is receiving judicial retirement benefits and who resumes full-time judicial service pursuant to an appointment under Amendment 29 of the Arka…

24 CAR § 15-120. Declaratory orders. (a) Purpose and use of declaratory orders. (1) To the extent any retirant or member of the Arkansas Judicial Retirement System has questions concerning the applicability of any rule, statute, or other order of the Board of Trustees of the Arka…