Title 24 — Retirement and Pensions

12 chapters · 740 sections in this title.

137 sectionsFiltered byTitle 24 Ch 7

Ark. Code Ann. § 24-7-716 [Repealed.]
0.2K chars
A.C.A. § 24-7-716Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 24-7-717 [Repealed.]
0.2K chars
A.C.A. § 24-7-717Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 24-7-718 Minimum financial conditions for benefit increases
1.6K chars
(a) For an increase in benefit formulas to be effective, the regular annual actuarial valuation for the calendar year immediately preceding the effective date of the increase shall be based upon an investment rate assumption as recommended by the system's actuary as financially s…
Ark. Code Ann. § 24-7-719 Rollover of distributions — Definitions
17.7K chars
(a) As used in this section:(1) “Direct rollover” means a payment by the Arkansas Teacher Retirement System to the eligible retirement plan specified by the distributee;(2) (A) “Distributee” includes a member or former member.(B) The member's or former member's surviving spouse a…
Ark. Code Ann. § 24-7-720 Lump-sum death benefit
8.5K chars
(a) (1) (A) If an active member, T-DROP participant, or a retired member with five (5) years of actual service, including actual service for the year immediately preceding the member's death, dies before July 1, 2007, then one (1) lump-sum death benefit of up to ten thousand doll…
Ark. Code Ann. § 24-7-725 Limitation on benefit enhancement of § 24-7-702
0.5K chars
(a) A benefit enhancement provided by § 24-7-702 shall not be implemented if it would cause unfunded actuarial accrued liabilities of the Arkansas Teacher Retirement System to exceed an eighteen-year amortization. (b) If the system's unfunded actuarial accrued liabilities exceed …
Ark. Code Ann. § 24-7-726 Computation of benefits based on contract salary
0.6K chars
If a person employed in a public school district of this state has received an actual salary reduced below the contract salary due to military service or other government service, the Arkansas Teacher Retirement System shall compute retirement benefits based upon the contract sal…
Ark. Code Ann. § 24-7-727 Compounded cost of living adjustments
8.5K chars
(a) (1) The Board of Trustees of the Arkansas Teacher Retirement System may compound the cost of living adjustment for all retirees and participants in the Teacher Deferred Retirement Option Plan who have received a monthly retirement benefit for the prior twelve-month period.(2)…
Ark. Code Ann. § 24-7-728 Computation of benefits based on life annuity
2.1K chars
(a) (1) The Board of Trustees of the Arkansas Teacher Retirement System is authorized to raise the level of benefit to the current retirees and other beneficiaries of the Arkansas Teacher Retirement System.(2) The board may raise the level of benefit to a comparable level increas…
Ark. Code Ann. § 24-7-729 Adjustment of § 24-7-713 base amount
0.1K chars
The base amount in § 24-7-713 will be adjusted at the same time a benefit increase is granted to active members under § 24-7-728.
Ark. Code Ann. § 24-7-730 Required distributions
9.8K chars
(a) (1) (A) Notwithstanding the provisions of this subchapter regarding the required dates of distribution of benefits under the Arkansas Teacher Retirement System to former members, the distribution of a former member's benefits under the system shall in any event be made or beg…
Ark. Code Ann. § 24-7-731 Forfeitures
0.4K chars
Notwithstanding the provisions of this subchapter, any forfeitures arising from severance of employment, death, or for any other reason shall not be applied to increase the benefit any member would otherwise receive under the Arkansas Teacher Retirement System at any time prior t…
Ark. Code Ann. § 24-7-732 System termination or discontinuance — Vesting
0.7K chars
(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 th…
Ark. Code Ann. § 24-7-733 Limitation on benefits
1.9K chars
(a) (1) Notwithstanding the provisions of this subchapter, benefits paid under the Arkansas Teacher Retirement System shall not exceed the limitations of the Internal Revenue Code, 26 U.S.C. § 415, that are applicable to governmental retirement plans, including without limitation…
Ark. Code Ann. § 24-7-734 Lost payees
3.8K chars
(a) (1) Notwithstanding the provisions of this subchapter, each member and each beneficiary of a deceased member shall file with the Board of Trustees of the Arkansas Teacher Retirement System from time to time in writing the post office address and each change of post office add…
Ark. Code Ann. § 24-7-735 Contract buyout agreement — Settlements — Judgments — Calculation of benefits
6.4K chars
(a) A member shall not accumulate service credit in the Arkansas Teacher Retirement System during the time that payments under a contract buyout agreement, settlement, claim, judgment, arbitration award, decree, or court-ordered payment are paid to the member by the employer unle…
Ark. Code Ann. § 24-7-736 Calculation of final average salary — Definition
10.9K chars
(a) Compensation in excess of the limitations set forth in the Internal Revenue Code of 1986, 26 U.S.C. § 401(a)(17), as it existed on January 1, 2011, shall not be used for purposes of calculating final average salary on which benefits under the Arkansas Teacher Retirement Syste…
Ark. Code Ann. § 24-7-737 [Repealed.]
0.2K chars
A.C.A. § 24-7-737Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 24-7-738 Return to regular covered employment for service credit after disability retirement — Alternate option to return to disability retirement — Incentive to work
1.8K chars
(a) If a member who has been on disability retirement with the Arkansas Teacher Retirement System returns to regular, covered employment and then returns to disability retirement with the system, the disability retirement benefit shall be the higher of the:(1) Amount that the mem…
Ark. Code Ann. § 24-7-739 Annuity payments owed to beneficiary of special needs trust. [Effective July 1, 2026.]
4.0K chars
(a) A member who designates a person or the parent or legal guardian of a person who is designated as a beneficiary of an annuity or benefit under § 24-7-706, § 24-7-709, § 24-7-711, or § 24-7-720 may elect to have the annuity or benefit paid to a special needs trust that is esta…
Ark. Code Ann. § 24-7-801 Definitions
2.1K chars
(1) 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'…
Ark. Code Ann. § 24-7-802 [Repealed.]
0.2K chars
A.C.A. § 24-7-802Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 24-7-803 Provisions of subchapter controlling
0.2K chars
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.
Ark. Code Ann. § 24-7-804 Establishment and administration of plan
0.9K chars
(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 Hig…
Ark. Code Ann. § 24-7-805 Methods of providing benefits — Agent for service of process
1.2K chars
(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 Di…
Ark. Code Ann. § 24-7-806 Procedure for designation of companies to provide benefit contracts
1.5K chars
(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…
Ark. Code Ann. § 24-7-807 Participation in plan
18.1K chars
(1) 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 t…
Ark. Code Ann. § 24-7-808 Contributions
3.8K chars
(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 ret…
Ark. Code Ann. § 24-7-901 Definitions
2.3K chars
(1) As used in this subchapter, unless the context otherwise requires:(1) “Alternate retirement plan” means a retirement plan, based on the purchase of contracts approved by the Career Education and Workforce Development Board before the effective date of Acts 2019, No. 910, whic…
Ark. Code Ann. § 24-7-902 [Repealed.]
0.2K chars
A.C.A. § 24-7-902Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 24-7-903 Provisions of subchapter controlling
0.2K chars
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.
Ark. Code Ann. § 24-7-904 Establishment and administration of plan
0.9K chars
(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 e…
Ark. Code Ann. § 24-7-905 Methods of providing benefits — Agent for service of process
1.2K chars
(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 reti…
Ark. Code Ann. § 24-7-906 Approval of companies and contracts
1.5K chars
(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 conside…
Ark. Code Ann. § 24-7-907 Participation in plan
8.2K chars
(1) 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 …
Ark. Code Ann. § 24-7-908 Contributions
2.1K chars
(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 sha…
Ark. Code Ann. § 24-7-909 Extension of group insurance coverage by dependents of deceased eligible employee
0.6K chars
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 bene…