(a) Beginning July 1, 2011, all current employees of a nonmandatory employer that are current members of the Arkansas Teacher Retirement System may continue membership and continue to accrue service credit in the system without any change in participation in the system if:
(1) The employee is:
(A) Part-time and the employee continues to provide services in each fiscal year at approximately the same level of service; or
(B) Full-time and the employee continues to provide services in each fiscal year;
(2) The nonmandatory employer chooses to continue reporting service to the system for the employee;
(3) The nonmandatory employer determines that the employee will contribute at least part-time services in subsequent months of the fiscal year if services are not rendered throughout the fiscal year;
(4) The nonmandatory employer remits contributions to the system on behalf of the employee during the fiscal year beginning July 1, 2011, and each fiscal year thereafter; and
(5) The employee's service with the nonmandatory employer is not terminated.
(b) The nonmandatory employer shall remit employer contributions under § 24-7-401 et seq. for an employee under this section and shall be subject to the rights and obligations of an employer under the Arkansas Teacher Retirement System Act.
(c) The employee under this section shall remit employee contributions under § 24-7-406 et seq. and shall be subject to the rights and obligations of an employee under the Arkansas Teacher Retirement System Act.
(d) The nonmandatory employer shall provide information in a format requested by the system to allow the system to monitor and track all employees who participate in the system.
Section: Previous 24-7-1602 24-7-1603 24-7-1604 24-7-1605 24-7-1606 24-7-1607 NextLast modified: November 15, 2016