System termination or discontinuance — Vesting

Ark. Code Ann. § 24-7-732 — under Retirement of Employees of Schools and Educational Institutions.

Ark. Code Ann. § 24-7-732

(1) Notwithstanding the provisions of this subchapter, members' accrued benefits under the Arkansas Teacher Retirement System shall be one hundred percent (100%) vested:(1) To the extent those benefits are then funded, in the event there is a partial or complete termination of the system or in the event of a complete discontinuance of employer contributions to the system; and(2) Upon a member's attaining normal retirement age.

(1) To the extent those benefits are then funded, in the event there is a partial or complete termination of the system or in the event of a complete discontinuance of employer contributions to the system; and

(2) Upon a member's attaining normal retirement age.