24-7-1602. Definitions.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-7-1602. Definitions.

24-7-1602. Definitions. As used in this subchapter: (1) “Alternative retirement plan” means an optional retirement plan based on the purchase of contracts providing retirement and death benefits for a benefits-eligible employee of a post-secondary or higher education employer; (2) “Benefits-eligible” means a class of employees, determined at the discretion of a post-secondary or higher education employer, eligible to participate in the Arkansas Teacher Retirement System, an alternate plan, or the Arkansas Public Employees' Retirement System; (3) “Nonmandatory employer” means any public employer that was authorized to enroll new employees into the Arkansas Teacher Retirement System or alternate retirement plan before July 1, 2011; (4) “PSHE employer” means a post-secondary or higher education employer: (A) With employees that may be hired without becoming mandatory members of the Arkansas Teacher Retirement System; and (B) That offers the Arkansas Teacher Retirement System as a retirement plan on or after July 1, 2011; and (5) “PSHE plan” means the plan establishing the right of a new employee of a PSHE employer to participate in the Arkansas Teacher Retirement System on or after July 1, 2011.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-1602

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.