Arkansas Administrative Code Agency 075 - PUBLIC EMPLOYEES RETIREMENT SYSTEM
The Arkansas Public Employees Retirement System (APERS) is governed by Agency 075 of the Arkansas Administrative Code. This agency administers retirement benefits for state employees, public school personnel, and certain local government workers.
📘 Key Rules and Regulations
APERS' rules are codified under Chapter 24 of the Arkansas Administrative Code, encompassing various regulations that guide its operations. Some notable rules include:
Rule 075.00.00-002 – Investment Policy
Rule 075.00.01-001 – Board Regulations covering employer contribution rates, public safety credit, DROP provisions, membership eligibility for policemen and firemen, enrollment in APERS by colleges and universities, and termination of other employer participating retirement plans
Rule 075.00.03-001 – DROP Provisions and Investment Policy
Rule 075.00.06-001 – Regulation 105: Additional Funding for Initial Unfunded Liabilities
Rule 075.00.19-004 – Official Rules of the Board of Trustees of APERS
Rule 075.00.19-005 – Arkansas Judicial Retirement System Board of Trustees' Rules
Rule 075.00.19-006 – State Police Retirement System Board Rules(law.cornell.edu, casetext.com, casetext.com)
These rules are regularly updated and are accessible through the Arkansas Administrative Code or Casetext. (casetext.com)
🏛 Board of Trustees
The Board of Trustees oversees APERS and is responsible for:
Holding regular meetings, at least quarterly
Establishing rules for the system's administration
Providing administrative direction to the Executive Director
Conducting actuarial valuations
Managing investments and disbursements
Adopting necessary mortality and interest tables
Performing other duties essential for the system's operation(codes.findlaw.com)
A quorum requires five trustees, and at least five concurring votes are necessary for decisions. (codes.findlaw.com)
📌 Rulemaking Authority
Under Arkansas Code § 24-4-746, the Board has the authority to promulgate rules necessary for the participation of employers defined as public rehabilitative services corporations or other local units of government. However, the board must ensure that admitting or retaining any employer does not jeopardize the tax-qualified status of the plan under the Internal Revenue Code. (law.justia.com)
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