Arkansas Code Title 24, Chapter 7, Subchapter 7 - Arkansas Teacher Retirement System -- Benefits
- § 24-7-701 - Voluntary Retirement.
(a) (1) (A) Except as provided under subdivision (a)(2) of this section, an active member who either attains sixty (60) years of age and...
- § 24-7-702 - Early Voluntary Retirement.
(a) (1) (A) Except as provided under subdivision (a)(2) of this section, an active or inactive member who has twenty-five (25) or more years...
- § 24-7-703 - [Repealed.]
- § 24-7-704 - Disability Retirement.
(a) (1) (A) An active member in employer service with five (5) or more years of actual service who becomes totally and permanently physically...
- § 24-7-705 - Life Annuity.
(a) (1) (A) (i) For a member who is retired or who is in the Teacher Deferred Retirement Option Plan as of June 30,...
- § 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...
- § 24-7-707 - Deferred Retirement.
(a) (1) (A) If an active member becomes inactive before the member reaches sixty (60) years of age and completes five (5) years of...
- § 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...
- § 24-7-709 - Disposition of Member Contributions -- Residue.
(a) (1) (A) If a retirant and his or her option annuitants, if any, die before receiving annuity payments equal to the member's residue...
- § 24-7-710 - Survivor Annuity Benefits.
(a) (1) If an active member with five (5) or more years of actual service, including credited service for the year immediately preceding his...
- § 24-7-711 - Refund of Member Contributions Upon Termination.
(a) (1) If a member discontinues covered employment, the member may elect to be paid a refund of his or her contributions and regular...
- § 24-7-712 - Determination of Benefit Program.
Any member last terminating teacher service before July 1, 1973, shall receive, or shall have paid on his or her behalf, benefits in accordance...
- § 24-7-713 - Retirement Annuity -- Simple Cost of Living Adjustment and Monthly Benefit Stipend.
(a) (1) July 1 of each year, retirants, survivors, participants in the Teacher Deferred Retirement Option Plan, and annuity beneficiaries who have been receiving...
- § 24-7-714 - Increase in Monthly Benefits -- Acts 1979, No. 655, and Acts 1981, No. 885.
(a) The monthly retirement benefit payable to retirants and beneficiaries of the Arkansas Teacher Retirement System who were retired on or before July 1,...
- § 24-7-715 - Benefit Rights Not Subject to Legal Process.
(a) (1) The right of a person to an annuity, to the return of accumulated contributions, to the annuity itself, to any annuity option,...
- § 24-7-716 - [Repealed.]
- § 24-7-717 - [Repealed.]
- § 24-7-718 - Minimum Financial Conditions for Benefit Increases.
(a) For an increase in benefit formulas to be effective, the regular annual actuarial valuation for the calendar year immediately preceding the effective date...
- § 24-7-719 - Rollover of Distributions.
(a) As used in this section: (1) "Direct rollover" means a payment by the Arkansas Teacher Retirement System to the eligible retirement plan specified...
- § 24-7-720 - Lump-Sum Benefit.
(a) (1) (A) If prior to July 1, 2007, an active member of the Arkansas Teacher Retirement System with five (5) or more years...
- § 24-7-721 -- 24-7-724 - [Repealed.]
- § 24-7-725 - Limitation on Benefit Enhancement of § 24-7-702.
No benefit enhancement provided by § 24-7-702 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to...
- § 24-7-726 - Computation of Benefits Based on Contract Salary.
If a person employed in a public school district of this state has received an actual salary reduced below the contract salary due to...
- § 24-7-727 - Compounded Cost of Living Adjustments.
(a) (1) After July 1, 1999, the Board of Trustees of the Arkansas Teacher Retirement System may compound the cost of living adjustment for...
- § 24-7-728 - Computation of Benefits Based on Life Annuity.
The Board of Trustees of the Arkansas Teacher Retirement System is authorized by this section to raise the level of benefit to the current...
- § 24-7-729 - Adjustment of § 24-7-713 Base Amount.
The base amount in § 24-7-713 will be adjusted at the same time a benefit increase is granted to active members under § 24-7-728.
- § 24-7-730 - Required Distributions.
(a) (1) Notwithstanding the provisions of this subchapter regarding the required dates of distribution of benefits under the Arkansas Teacher Retirement System to former...
- § 24-7-731 - Forfeitures.
Notwithstanding the provisions of this subchapter, any forfeitures arising from severance of employment, death, or for any other reason shall not be applied to...
- § 24-7-732 - System Termination or Discontinuance -- Vesting.
Notwithstanding the provisions of this subchapter, members' accrued benefits under the Arkansas Teacher Retirement System shall be one hundred percent (100%) vested: (1) To...
- § 24-7-733 - Limitation on Benefits.
(a) (1) Notwithstanding the provisions of this subchapter, benefits paid under the Arkansas Teacher Retirement System shall not exceed the limitations of the Internal...
- § 24-7-734 - Lost Payees.
(a) (1) Notwithstanding the provisions of this subchapter, each member and each beneficiary of a deceased member shall file with the Board of Trustees...
- § 24-7-735 - Contract Buyout Agreement -- Settlements -- Judgments -- Calculation of Benefits.
(a) A member shall not accumulate service credit in the Arkansas Teacher Retirement System during the time that payments under a contract buyout agreement,...
- § 24-7-736 - Calculation of Final Average Salary.
(a) Compensation in excess of the limitations set forth in the Internal Revenue Code of 1986, 26 U.S.C. 401(a)(17), as it existed on January...
- § 24-7-737 - [Repealed.]
Last modified: November 15, 2016