Arkansas Code
Subchapter 13 - Teacher Deferred Retirement Option Plan
§ 24-7-1303. Contributions to Arkansas Teacher Retirement System

(a)
(1) When a member begins participation in the Teacher Deferred Retirement Option Plan, member contributions to the Arkansas Teacher Retirement System shall cease.
(2) Until and on August 31, 2003, employer contributions on behalf of the members participating in the Teacher Deferred Retirement Option Plan that are due the system may be retained by the school districts for the purposes under subdivision (b)(1) of this section.
(3)
(A)
(i) Beginning September 1, 2003, for members whose effective date in the Teacher Deferred Retirement Option Plan is before September 1, 2003, the employer contribution rate to the system on behalf of all members in the Teacher Deferred Retirement Option Plan shall recommence at the rate of:
(a) One percent (1%) for the period from July 1, 2003, through June 30, 2005;
(b) Three percent (3%) for the period from July 1, 2005, through June 30, 2007; and
(c) Six percent (6%) for the period from July 1, 2007, through June 30, 2009.

(ii) After July 1, 2009, the covered employer shall remit the contributions on all salary paid to the Teacher Deferred Retirement Option Plan participants in amount equal to the employer contribution rate applicable to active members.

(B) The portion of the employer contribution not required to be paid to the system for members in the Teacher Deferred Retirement Option Plan under this subdivision (a)(3), if any, may be retained by the school districts for the purposes under subdivision (b)(1) of this section.

(4) Beginning September 1, 2003, for members whose effective date in the Teacher Deferred Retirement Option Plan is on or after September 1, 2003, the employer contribution rate on behalf of members in the Teacher Deferred Retirement Option Plan shall continue at the rate established by the entity having the authority to set the employer contribution rates for the system.

(b)
(1) It is the intent of the General Assembly that the portion of the employer contribution to the system that has ceased for a participant in the Teacher Deferred Retirement Option Plan, if any, will become a part of the general operating fund of the school district to be used for any purpose, including employee salaries.
(2) Except for employer contributions to the system, the school district shall not make contributions to any tax-qualified retirement plan on behalf of any employee participating in the Teacher Deferred Retirement Option Plan. However, this prohibition shall not be applicable to the extent necessary to comply with contractual obligations incurred by a school district prior to February 1, 1999.