The Board of Trustees of the Arkansas Teacher Retirement System is authorized by this section to raise the level of benefit to the current retirants and other beneficiaries of the Arkansas Teacher Retirement System to a comparable level increase to match the increase in benefits that would accrue to active members as a result of any increase in the calculation of a life annuity as provided in § 24-7-705(a)(1) in accordance with any rules the board might promulgate. The amount of any increase for retirants and other beneficiaries shall also be determined in accordance with the rules of the board as is actuarially appropriate for the system. Prior to increasing a benefit as provided in this section, the board shall file relevant information concerning the actuarial appropriateness of the action with the Joint Committee on Public Retirement and Social Security Programs, and the action shall be reviewed by the Joint Committee on Public Retirement and Social Security Programs.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 7 - Retirement of Employees of Schools and Educational Institutions
Subchapter 7 - Arkansas Teacher Retirement System — Benefits
§ 24-7-701. Voluntary retirement
§ 24-7-702. Early voluntary retirement
§ 24-7-704. Disability retirement
§ 24-7-707. Deferred retirement
§ 24-7-708. Employment of retired members by covered employers
§ 24-7-709. Disposition of member contributions — Residue
§ 24-7-710. Survivor annuity benefits
§ 24-7-711. Refund of member contributions upon termination
§ 24-7-712. Determination of benefit program
§ 24-7-714. Increase in monthly benefits — Acts 1979, No. 655, and Acts 1981, No. 885
§ 24-7-715. Benefit rights not subject to legal process — Definition
§ 24-7-718. Minimum financial conditions for benefit increases
§ 24-7-719. Rollover of distributions — Definitions
§ 24-7-720. Lump-sum benefit — Definition
§ 24-7-725. Limitation on benefit enhancement of § 24-7-702
§ 24-7-726. Computation of benefits based on contract salary
§ 24-7-727. Compounded cost of living adjustments
§ 24-7-728. Computation of benefits based on life annuity
§ 24-7-729. Adjustment of § 24-7-713 base amount
§ 24-7-730. Required distributions
§ 24-7-732. System termination or discontinuance — Vesting
§ 24-7-733. Limitation on benefits
§ 24-7-735. Contract buyout agreement — Settlements — Judgments — Calculation of benefits
§ 24-7-736. Calculation of final average salary — Definition