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24-2-302. Classification of members.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-2-302. Classification of members.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-302

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Stable record: arkansas_code:legal_authorities:24-2-302
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 280fc855831e3c019262e5459dfcaefed05f2da44e14adcf4a390481d099f5f4

Source location: content.xml paragraph 489

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24-2-302. Classification of members. Except as otherwise specifically provided in this subchapter, all employees of the State of Arkansas or any of its political subdivisions who are members or become members of a state retirement system shall be members of the retirement system indicated in this section as follows: (1) All eligible employees of the Arkansas Department of Transportation shall be members of the Arkansas State Highway Employees' Retirement System; (2) All eligible employees of the Division of Arkansas State Police shall be members of the State Police Retirement System; (3) The following persons shall be members of the Arkansas Teacher Retirement System: (A) Any person employed by a school for the purpose of giving instruction and whose employment requires state certification; (B) Any other person employed by a school in a regular or special position; (C) Any person employed by any of the following organizations or agencies: (i) Arkansas School for the Blind; (ii) Arkansas School for the Deaf; (iii) Arkansas Activities Association; (iv) A local school board; (v) State Board of Education; (vi) Regional education service cooperatives; and (vii) Arkansas Teacher Retirement System; (D) Any person employed in a position requiring professional training or certification with an area vocational-technical school or employed by the Arkansas Educational Television Commission, except that employees of area vocational-technical schools and the Division of Career and Technical Education, the Adult Education Section, and the Office of Skills Development, who have elected to participate in an alternate retirement plan established by §§ 24-7-901 and 24-7-903 — 24-7-908 shall be active members of the alternate retirement plan; and (E)(i) Any person employed in a position requiring professional training or certification with Arkansas Rehabilitation Services, the Division of State Services for the Blind, or the Division of Youth Services except those employees who have elected coverage under § 24-4-101 et seq. (ii) Membership of employees of Arkansas Rehabilitation Services and the Division of State Services for the Blind shall be subject to the following conditions: (a) Those employees who were employed before January 1, 1985, and who were members of the Arkansas Teacher Retirement System on that date shall continue to be members of the Arkansas Teacher Retirement System, except that in the event the time limit for those employees to change to the noncontributory plan of the Arkansas Public Employees' Retirement System under § 24-4-522 is extended beyond January 1, 1985, those employees shall have the maximum time allowed by law to elect to make the change; (b) Those employees who were employed before January 1, 1985, and who are members of the noncontributory plan of the Arkansas Public Employees' Retirement System on that date shall continue to be members of the Arkansas Public Employees' Retirement System; and (c) Persons whose initial employment by either Arkansas Rehabilitation Services or the Division of State Services for the Blind is on or after January 1, 1985, shall be members of the noncontributory plan of the Arkansas Public Employees' Retirement System; and (4) All eligible employees of the State of Arkansas or any of its political subdivisions except those who are members of another legally established state retirement plan shall be members of the Arkansas Public Employees' Retirement System.

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Arkansas Code — all titles (historical 2020) · legal_authorities

24-4-101. Definitions.

24-4-101. Definitions. As used in this act: (1) “Accumulated contributions” means the sum of all amounts deducted from the compensations of a member and credited to his or her individual account in the member's deposit account, together with regular interest as may have been credited thereon; (2) “Actual service” means service credited at the rate of one (1) month for each month of service; (3) “Actuarial equivalent” means a benefit of equal reserve value when “reserve” means the present value of all payments to be made on account of any benefit based upon such reasonable rates of interest and tables of experience as a plan shall adopt from time to time; (4) “Actuary” means a qualified actuary with experience in retirement plan financing. Membership in the American Academy of Actuaries shall be sufficient for a person to be deemed a qualified actuary; (5) “Age” means age on last birthday; (6)(A) “Annuity” means a monthly amount payable from funds of the Arkansas Public Employees' Retirement System throughout the life of a person. (B) All annuities shall be paid in equal monthly installments; (7) “Annuity reserve” means the present value of an annuity computed upon the basis of mortality and other such tables of experience and regular interest, as the Board of Trustees of the Arkansas Public Employees' Retirement System shall adopt; (8) “Beneficiary” means any person except a retirant who is receiving or is designated by a member to receive a plan benefit; (9) “Benefit program” means a schedule of benefits or benefit formulas from which the amounts of benefits can be determined; (10) “Board” means the Board of Trustees of the Arkansas Public Employees' Retirement System, as created in this act; (11)(A) “Compensation” means the recurring remunerat

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-101

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 24-4-101. This identifies an authority to review, not proof of applicability.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-7-901. Definitions.

24-7-901. Definitions. 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 Career Education and which has been approved by the Career Education and Workforce Development Board; (2) “Retirement system” means the Arkansas Teacher Retirement System; (3) “School” means any technical institute or postsecondary vocational-technical school established pursuant to § 6-51-202 for the vocational training of students; and (4) “Staff members” means both instructors and administrative staff of a technical institute or postsecondary vocational-technical school and the staff of the department who are eligible for membership in the retirement system.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-901

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 24-7-901. This identifies an authority to review, not proof of applicability.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-7-903. Provisions of subchapter controlling.

24-7-903. Provisions of subchapter controlling. 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.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-903

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 24-7-903. This identifies an authority to review, not proof of applicability.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-7-908. Contributions.

24-7-908. Contributions. (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 to the maximum allowable member contribution under the retirement system or, at the option of the staff member, additional amounts allowable under the alternate retirement plan. (b) Payment of contributions by the department which are authorized by the provisions of this section shall be made by the disbursing officer of the department. (c)(1) All staff members who elect to participate in the alternate retirement plan shall so notify the State Board of Workforce Education and Career Opportunities in writing. (2) The board shall establish a procedure for notifying the state official charged with paying the salaries of staff members, which official shall cause staff members' contributions to be withheld and forwarded to the company approved by the board and designated by the staff member.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-908

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 24-7-908. This identifies an authority to review, not proof of applicability.