Arkansas Administrative Code Agency 088 - Arkansas Teacher Retirement System
Here’s a detailed overview of Arkansas Administrative Code – Agency 088: Arkansas Teacher Retirement System (ATRS), capturing its major rule categories and regulatory framework:
🏫 Agency 088 – ATRS: Core Structure & Governance
Rule 088.00.01‑001 (Organization & Operation)
ATRS is a defined benefit pension trust for Arkansas educators, established March 17, 1937.
Governed by a 15‑member Board (11 elected, 4 ex officio), led by a Chair and Vice-Chair with meetings at least quarterly under Arkansas FOIA/RoO procedures (sos.arkansas.gov).
Composed of divisions: Administration, Membership Services, Data Processing, Investments, Fiscal Affairs (sos.arkansas.gov).
Rulemaking follows the Arkansas Administrative Procedure Act (sos.arkansas.gov).
📃 Membership, Contributions & Eligibility
Rule 088.00.06‑101 et seq. (Membership Definitions and Employer Participation)
Defines “active member,” “employee of education-related agency” (govt.westlaw.com).
Sets employer contribution obligations: monthly remittances by the 10th, late fees 6% plus penalties (law.cornell.edu).
Includes rules on automatic membership for eligible employees, options for noncontributory election, reciprocal service with other systems, and conditions for inactive/erroneous memberships (sos.arkansas.gov).
📆 Retirement Benefits & Plans
Rule 088.00.09‑-21‑006 (Retirement Benefits)
Details vesting, eligibility criteria for age/service retirement, disability retirement, and annuity calculations (casetext.com).
Rule 088.00.10‑002 (Teacher Deferred Retirement Option Plan – T‑DROP)
Members with ≥28 years of service may continue employment while deferring benefits.
Account credited with member plan deposits plus interest (2–6%).
Provides enhanced interest (“10-year plus T‑DROP”) of 4–6% for extended participation (regulations.justia.com).
🔁 Return to Service & Rescinding Retirement
Rule 088.00.05‑003 / 10‑002 / 10‑001
Defines conditions under which retirees can return to covered employment without rescinding retirement.
T‑DROP-specific return-to-service rules appear in Rule 10‑002 (law.cornell.edu).
⚖️ Governance, Adjudication & Appeals
Rule 088.00.10‑003 (Administrative Adjudications)
Outlines processes for staff-level benefit determinations and appeals (law.cornell.edu).
Rules 088.00.07‑002 / 088.00.15‑001 etc. (Board Composition & Investment Policies)
Set trustee election/schedule, asset allocation strategy, investment goals, and oversight standards (law.cornell.edu).
✅ Summary: Key Takeaways for ATRS Stakeholders
Area
Highlights
Governance
15-member board, quarterly public meetings, formal rulemaking
Membership & Contributions
Defines eligibility, contributions, automatic enrollment, and penalties
Retirement Options
Multiple retirement paths including age/service, disability, and T‑DROP
Resumption of Work
Policies for retiree re-employment and benefit adjustments
Appeals & Adjudication
Clear framework for internal appeal of rulings
Investment Oversight
Structured rules on asset allocation and financial goals
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