As used in this subchapter:
(1) “Alternative retirement plan” means an optional retirement plan based on the purchase of contracts providing retirement and death benefits for a benefits-eligible employee of a post-secondary or higher education employer;
(2) “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 plan, or the Arkansas Public Employees' Retirement System;
(3) “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;
(4) “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
(5) “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.
Structure Arkansas Code