24-7-1304. Election of annuity options.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-7-1304. Election of annuity options. (a) A member who elects participation in the Teacher Deferred Retirement Option Plan may elect one (1) of the annuity options provided in § 24-7-706. (b) The election will be made at the time the member separates from service and is granted a monthly retirement benefit, and will be deemed to apply to the member's plan benefit as well as to the member's monthly retirement benefit from the Arkansas Teacher Retirement System at the time it becomes payable.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-1304

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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Arkansas Code — all titles (historical 2020) · legal_authorities

24-7-706. Annuity options.

24-7-706. Annuity options. (a)(1) Before the date the first payment of his or her annuity becomes due, a member may elect to receive his or her annuity as a straight life annuity, or he or she may elect to receive the actuarial equivalent, at that time, of his or her straight life annuity in a reduced annuity payable throughout his or her life. (2) The member may nominate a beneficiary, in accordance with one (1) of the following options: (A) Option A — 100% Survivor Annuity. (i) Under Option A, upon the death of a retirant, his or her reduced annuity shall be continued throughout the life of and paid to such person as he or she shall have nominated by written designation executed and filed with the Board of Trustees of the Arkansas Teacher Retirement System before the date the first payment of his or her annuity becomes due. (ii) The person designated as a beneficiary by the retirant shall be: (a) The retirant's spouse for not less than one (1) year immediately preceding the first payment due date; or (b) A dependent child of the retirant who has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; (B) Option B — 50% Survivor Annuity. (i) Under Option B, upon the death of a retirant, one-half (1/2) of his or her reduced annuity shall be continued throughout the life of and paid to such person as he or she has nominated by written designation executed and filed with the board before the date the first payment of his or her annuity becomes due. (ii) The person designated as a beneficiary by the retirant shall be: (a) The retirant's spouse for not less than one (1) year immediately preceding the first payment due date; or (b) A dependent child of the retirant who has been adjudged physically or mentally i

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-706

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 24-7-706. This identifies an authority to review, not proof of applicability.