Ark. Code § 24-7-1602

Current with legislation from 2024 effective through May 3, 2024.

Section 24-7-1602 - Definitions

As used in this subchapter:

(1) "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 retirement plan, or the Arkansas Public Employees' Retirement System;

(2) "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;

(3) "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

(4) "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.

Ark. Code § 24-7-1602

Amended by Act 2021, No. 427,§ 5, eff. 3/23/2021.

Acts 2011, No. 513, § 1.