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24-7-708. Employment of retired members by covered employers.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-7-708. Employment of retired members by covered employers.
(a) Effective July 1, 2009, after terminating employment under § 24-7-502 or reaching the age of normal retirement, a retirant may:
(1) Accept employment with an employer covered by the Arkansas Teacher Retirement System without a limitation of his or her retirement annuity; and
(2) Continue to receive his or her monthly retirement annuity.
(b) Employers covered by the system that hire an employee who meets the conditions under subsection (a) of this section shall report the hiring of the retirant to the system in a time and a manner that the system may reasonably require.
(c) A retirant who receives monthly benefits and is employed by a covered employer shall not accrue additional service credit.
(d)(1) For a retired member employed in a position covered by the system, the covered employer shall remit the contributions on all salary paid to the retirant in an amount equal to the employer contribution rate applicable to active members.
(2) Contributions shall be paid by the employer and are not the responsibility of the retirant.
(e)(1) The Board of Trustees of the Arkansas Teacher Retirement System shall adopt rules to carry out the provisions of this section.
(2) A covered employer that employs retirants is subject to the rules adopted by the board.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-708
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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Record provenance
Stable record: arkansas_code:legal_authorities:24-7-708
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 74fe517e1bdf49106ce9a108a499cd0f3a21781f220fd2be8840e1c136b88c0f
Source location: content.xml paragraph 7095
Stored source content
24-7-708. Employment of retired members by covered employers.
(a) Effective July 1, 2009, after terminating employment under § 24-7-502 or reaching the age of normal retirement, a retirant may:
(1) Accept employment with an employer covered by the Arkansas Teacher Retirement System without a limitation of his or her retirement annuity; and
(2) Continue to receive his or her monthly retirement annuity.
(b) Employers covered by the system that hire an employee who meets the conditions under subsection (a) of this section shall report the hiring of the retirant to the system in a time and a manner that the system may reasonably require.
(c) A retirant who receives monthly benefits and is employed by a covered employer shall not accrue additional service credit.
(d)(1) For a retired member employed in a position covered by the system, the covered employer shall remit the contributions on all salary paid to the retirant in an amount equal to the employer contribution rate applicable to active members.
(2) Contributions shall be paid by the employer and are not the responsibility of the retirant.
(e)(1) The Board of Trustees of the Arkansas Teacher Retirement System shall adopt rules to carry out the provisions of this section.
(2) A covered employer that employs retirants is subject to the rules adopted by the board.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-7-502. Termination of active membership — Definitions.
(a)(1) A member of the Arkansas Teacher Retirement System shall terminate covered employment and remain terminated during the member's applicable termination separation period to become and remain eligible for retirement.
(2)(A) Effective July 1, 2011, a member shall not be terminated from employment for purposes of retirement eligibility if within six (6) calendar months of the member's effective date of retirement the member:
(i) Meets both of the following requirements:
(a) Becomes employed with an employer covered by the system; and
(b) Has not attained the system's normal retirement age; or
(ii) Does not have a total or a combined total of thirty-eight (38) years or more of credited service in the system, Teacher Deferred Retirement Option Plan, or reciprocal service in another eligible state retirement system.
(B) If a member has a combined total of thirty-eight (38) years or more of credited service in the system, Teacher Deferred Retirement Option Plan, or reciprocal credited service in another eligible state retirement system, then the member shall not be terminated from employment for purposes of retirement eligibility if within one (1) calendar month of the member's effective date of retirement the member:
(i) Becomes employed with an employer covered by the system; and
(ii) Has not attained the system's normal retirement age.
(3) A member who fails to meet both the termination requirement and the termination separation period requirement of this subsection shall:
(A) Repay retirement benefits paid during the period the member did not meet the requirements; and
(B) Forfeit all future retirement benefits until the member files a new completed retirement application using the stan
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-502
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 24-7-502. This identifies an authority to review, not proof of applicability.