§ 24-7-601 - Credited service generally. - Arkansas Statutes

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Statutes > Arkansas > Title-24 > Chapter-7 > Subchapter-6 > 24-7-601

24-7-601. Credited service generally.

(a) By rule, the Board of Trustees of the Arkansas Teacher Retirement System shall fix and determine the number of years, and fraction thereof, of service to be credited each member for his or her employment as an employee.

(b) In no case, other than specifically provided otherwise in this subchapter, shall fewer than one hundred twenty (120) days of teaching service rendered in any fiscal school year be credited as one (1) year of service, nor shall more than one (1) year of service be credited any member for all teaching service rendered by him or her in any one (1) fiscal school year.

(c) (1) Days of absence from service because of sickness shall be considered as service if the days are paid sick leave.

(2) Days of paid sick leave shall not be considered service if the payment is for unused sick leave.

(d) No credited service may be granted by the board for service rendered before July 1, 1937.

(e) (1) The system is a reciprocal system under the provisions of 24-2-401 -- 24-2-405.

(2) In establishing eligibility for a benefit from the Arkansas Teacher Retirement System, the credited service under all reciprocal systems shall be totaled and the total credited service shall be used in determining eligibility for a system benefit.

(3) In determining the amount of a benefit from this system, there shall be used only the actual service under this system and the benefit formula of this system.

(4) The final average compensation used shall be that of the reciprocal system that furnishes the highest final salary at the time of retirement.

(5) Wherever this system provides a benefit amount that is not dependent on length of credited service, the benefit amount shall be reduced to the proportion that actual system service bears to total reciprocal system-credited service.

(f) In any case of question as to the service credit of any person, the board shall have the final power to decide the question.

State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-7 > Subchapter-6 > 24-7-601

24-7-601. Credited service generally.

(a) By rule, the Board of Trustees of the Arkansas Teacher Retirement System shall fix and determine the number of years, and fraction thereof, of service to be credited each member for his or her employment as an employee.

(b) In no case, other than specifically provided otherwise in this subchapter, shall fewer than one hundred twenty (120) days of teaching service rendered in any fiscal school year be credited as one (1) year of service, nor shall more than one (1) year of service be credited any member for all teaching service rendered by him or her in any one (1) fiscal school year.

(c) (1) Days of absence from service because of sickness shall be considered as service if the days are paid sick leave.

(2) Days of paid sick leave shall not be considered service if the payment is for unused sick leave.

(d) No credited service may be granted by the board for service rendered before July 1, 1937.

(e) (1) The system is a reciprocal system under the provisions of 24-2-401 -- 24-2-405.

(2) In establishing eligibility for a benefit from the Arkansas Teacher Retirement System, the credited service under all reciprocal systems shall be totaled and the total credited service shall be used in determining eligibility for a system benefit.

(3) In determining the amount of a benefit from this system, there shall be used only the actual service under this system and the benefit formula of this system.

(4) The final average compensation used shall be that of the reciprocal system that furnishes the highest final salary at the time of retirement.

(5) Wherever this system provides a benefit amount that is not dependent on length of credited service, the benefit amount shall be reduced to the proportion that actual system service bears to total reciprocal system-credited service.

(f) In any case of question as to the service credit of any person, the board shall have the final power to decide the question.

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State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-7 > Subchapter-6 > 24-7-601

24-7-601. Credited service generally.

(a) By rule, the Board of Trustees of the Arkansas Teacher Retirement System shall fix and determine the number of years, and fraction thereof, of service to be credited each member for his or her employment as an employee.

(b) In no case, other than specifically provided otherwise in this subchapter, shall fewer than one hundred twenty (120) days of teaching service rendered in any fiscal school year be credited as one (1) year of service, nor shall more than one (1) year of service be credited any member for all teaching service rendered by him or her in any one (1) fiscal school year.

(c) (1) Days of absence from service because of sickness shall be considered as service if the days are paid sick leave.

(2) Days of paid sick leave shall not be considered service if the payment is for unused sick leave.

(d) No credited service may be granted by the board for service rendered before July 1, 1937.

(e) (1) The system is a reciprocal system under the provisions of 24-2-401 -- 24-2-405.

(2) In establishing eligibility for a benefit from the Arkansas Teacher Retirement System, the credited service under all reciprocal systems shall be totaled and the total credited service shall be used in determining eligibility for a system benefit.

(3) In determining the amount of a benefit from this system, there shall be used only the actual service under this system and the benefit formula of this system.

(4) The final average compensation used shall be that of the reciprocal system that furnishes the highest final salary at the time of retirement.

(5) Wherever this system provides a benefit amount that is not dependent on length of credited service, the benefit amount shall be reduced to the proportion that actual system service bears to total reciprocal system-credited service.

(f) In any case of question as to the service credit of any person, the board shall have the final power to decide the question.