(a) The member's Teacher Deferred Retirement Option Plan account shall be the account in which shall be accumulated the:
(1) Plan deposits made on behalf of the member; and
(2) Plan interest.
(b) At the end of each fiscal year, the Board of Trustees of the Arkansas Teacher Retirement System shall credit each plan participant's plan account with plan interest on the mean balance in the account for the fiscal year.
(c) For the purposes of this section, plan interest shall be at the rate determined by the board from time to time.
(d) If a participant continues covered employment after completing ten (10) consecutive years in the plan, the participant's plan account shall be credited on June 30 of each year with ten (10) year plus plan interest as set by the board.
(e) For the purposes of this section, the ten (10) year plus plan interest rate shall be the rate determined by the board as appropriate.
Section: Previous 24-7-1302 24-7-1303 24-7-1304 24-7-1305 24-7-1306 24-7-1307 24-7-1308 24-7-1309 24-7-1310 24-7-1311 24-7-1312 24-7-1313 24-7-1314 24-7-1315 NextLast modified: November 15, 2016