reglab/statecodes huggingface dataset:
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.13-001 - Regulation 9.9 - Alternate Disciplinary Procedures

Current through Register Vol. 49, No. 6, June, 2024
NEW RULE TO SPECIFY THE AUTHORITY OF THE AREC AS AUTHORIZED
			 BY ACT 112 OF 2013
Section 9.
Complaints; Investigations; Hearings; Alternate Disciplinary
		  Procedures.
9.1-9.8
9.9
Alternate Disciplinary
		  Procedures
(a)
(1) The Executive Director may issue a
		  citation imposing a penalty of $100 to a licensee who:
(A) fails to complete annual continuing
		  education requirements by December 31, including the requirement to submit
		  proof of satisfactory completion thereof to the Commission; or
(B) fails to complete the post-license
		  education requirement, including submittal of proof of satisfactory completion
		  thereof to the Commission within the time frame required.
(2) It is the licensee's responsibility to
		  establish his or her successful completion of an educational requirement
		  through courses acceptable to the Commission.
(b) The Executive Director may issue a
		  citation imposing a penalty of $250 each to:
(1) A licensee who performs activities
		  requiring an active real estate license while his or her license is expired;
		  and
(2) The supervising broker(s)
		  of a licensee who performs activities requiring an active real estate license
		  while his or her license is expired.
(c) Licensees issued a citation may contest
		  the citation under §
									17-42-312(d).
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.13-002 - Property Management Recordkeeping; Time-Share Registration; and Governance of Mandatory Real Estate Education

Current through Register Vol. 49, No. 6, June, 2024
SECTION
		  3.
FEES; BAD CHECKS; REFUNDS.
3.1
Fees.
(a) The following fees are established at the
		  amounts indicated:
(1) Application fee -
		  $50.00
(2) Original broker license
		  fee - $70.00
(3) Broker experience
		  requirement waiver application fee - $50.00
(4) Annual renewal broker license fee -
		  $80.00
(5) Original salesperson
		  license fee - $50.00
(6) Annual
		  renewal salesperson license fee - $60.00
(7) Broker expired license fee -
		  $110.00
(8) Salesperson expired
		  license fee - $80.00
(9) License
		  reissuance fee - $30.00
(10)
		  Initial duplicate license fee - $30.00
(11) Annual renewal duplicate license fee -
		  $30.00
(12) Transfer fee -
		  $30.00
(13) Appeal filing fee -
		  $100.00
(14) Recovery fund fee -
		  $25.00
(15) Examination fee shall
		  be the actual cost charged by the testing service and shall be paid directly to
		  the testing service.
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.16-001 - Renewal; Inactive Status; Expired Licenses - Commission Reg. 6; Continuing Education - Commission Reg. 11

Current through Register Vol. 49, No. 6, June, 2024
SECTION
		  6.
RENEWAL; INACTIVE STATUS; EXPIRED LICENSES.
6.1
Renewal applications.
(a) Unless renewed as active or inactive,
		  every real estate broker or salesperson license shall expire on December 31 of
		  each calendar year.
(b) Notice to
		  renew licenses will be sent by mail or electronically about July 15 of each
		  year to the firm at which the licensee is licensed or such other address as the
		  Commission has on file for the licensee. Renewal applications accompanied by
		  the required fee must be filed with the Commission no later than September 30.
		  In order to be considered filed with the Commission by the deadline; the
		  renewal applications must bear a U.S. Postal Service postmark of September 30,
		  or be received in the Commission's office on or before September 30. If
		  September 30 falls on a Saturday, Sunday or legal holiday, the Commission shall
		  accept as meeting the filing deadline those renewal applications that bear a
		  U.S. Postal Service postmark of the first business day thereafter, and those
		  applications received in the Commission office on the first day the office is
		  open to the public following such Saturday, Sunday or legal holiday. A renewal
		  application filed after the deadline shall be treated as an application to
		  renew an expired license.
To hold an active license a broker or salesperson shall complete
			 annually seven (7) classroom hours of continuing education approved by the
			 Commission or equivalent continuing education units or equivalent distance
			 education of approved continuing education. One (1) classroom hour, which shall
			 satisfy only one (1) of the seven classroom hours, must focus on how real
			 estate professionals can limit risk to preserve personal safety for agents and
			 consumers.
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.17-001 - Commission Regulation 11.5

Current through Register Vol. 49, No. 6, June, 2024
SECTION
		  11.
CONTINUING EDUCATION.
11.5
Post-license education
		  requirements
(a) Each salesperson and
		  broker will complete a post-license education course as provided
		  herein.
(b) Salespersons shall
		  complete an eighteen (18) classroom hour salesperson course.
(c) Brokers shall complete the thirty (30)
		  classroom hour broker course developed by the Commission.
(d) All post-license education courses shall
		  be conducted by either the Arkansas Real Estate Commission, a school or
		  organization licensed by the Commission, or post-secondary school accredited by
		  a nationally recognized accrediting agency approved by the U.S. Department of
		  Education wherever situated. All post-license education hours shall be
		  conducted by actual classroom attendance.
(e) The Arkansas Real Estate Commission will
		  establish the course content for the post-license education courses for new
		  salespersons and brokers.
(f) The
		  broker or salesperson shall deliver to the Commission the original certificate
		  of completion of the post-license education course, or a copy thereof, from an
		  approved provider, or other documentation satisfactory to the Commission. Said
		  documentation must be received by the Commission no later than the end of the
		  month six (6) months following the date of the broker's or salesperson's
		  initial license. If documentation of an individual's post-license education is
		  not received by the Commission within said time period, the license will be
		  placed on inactive status until the broker or salesperson files satisfactory
		  documentation of his completion of said post-license education
		  course.
(g) A broker who is
		  initially licensed in that capacity cannot become an executive broker or
		  principal broker until such broker has completed and filed satisfactory
		  documentation of his completion of the post-license broker education course.
		  However, the Commission my temporarily waive this requirement for a real estate
		  broker who has submitted proof of enrollment in an upcoming course acceptable
		  to the Commission.
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.90-001 - Regulation 140: Contracts and Financial Obligation in Writing - Copies to All Parties

Current through Register Vol. 49, No. 6, June, 2024
107. Termination of
		  affiliation - Transfer of license.
(a) When
		  any real estate salesperson, Associate Broker or Executive Broker shall be
		  discharged or shall terminate affiliation with the real estate Principal Broker
		  or Executive Broker, such Principal Broker or Executive Broker shall notify the
		  Commission of such discharge or termination and return to the Commission the
		  license and pocket card of the terminated Broker or salesperson. Such
		  notification shall automatically inactivate the license.
Failure of the Principal Broker or Executive Broker to so notify
			 the Commission of such discharge or termination shall be cause for the
			 suspension or revocation of his/her broker's license.
(b) A broker or salesperson terminated under
		  subsection (a) above may transfer his/her license to another firm, after
		  his/her license and pocket card have been returned to the Commission, by filing
		  with the Commission a transfer application signed by the new Principal Broker
		  or Executive Broker. Such transfer application must be accompanied by (1) a
		  statement that he/she is not taking any listings, management contracts,
		  appraisals, lease agreements, or copies of any such documents, or any other
		  pertinent information belonging to his former Principal Broker or Executive
		  Broker, and (2) a transfer fee. At the time the transfer application and the
		  two accompanying items are filed, the Commission may issue a temporary interim
		  license.
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.91-003 - 135 - Knowledge of Property Offered for Sale; 137-Handling of Funds - Maintenance of Records

Current through Register Vol. 49, No. 6, June, 2024
135. Knowledge of
		  property offered for sale.
A licensee shall exert reasonable efforts to ascertain those
			 facts which are material to the value or desirability of every property for
			 which the licensee accepts the agency so that in offering the property the
			 licensee will be informed about its condition, and thus able to avoid
			 intentional or negligent misrepresentation to the public concerning such
			 property.
137. Handling of
		  funds - Maintenance of records.
(a)
(2) A broker shall deposit all advance fees
		  in the broker's trust account and shall disburse such funds only in the
		  accordance with the terms of a written agreement signed by the owner of the
		  funds. If such written agreement is not received within a reasonable time after
		  payment of the advance fee, the fee shall be refunded to the owner.
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.91-004 - 205-Approval of Continuing Education Courses by State Board of Private Career Education

Current through Register Vol. 49, No. 6, June, 2024
205. Approval of continuing
		  education courses by State Board of Private Career Education.
Only those courses which are approved by the state Board of
			 Private Career Education or which are exempted from such approval by Section
			 5(a) of Act 814
			 of 1991 [Ark. Code Ann. Subsection 17-35-506(a) ] shall be accepted by the
			 Commission for continuing education credit.
MAIN DEPARTMENT: REAL ESTATE COMMISSION
Sub Department:
DATE
DESCRIPTION
DOCKET NUMBER
09-10-91
Regulation 135 - Knowldege of Property Offered for
						Sale
Regulation 137 - Handling of Funds - Maintenance of
						Records
076.00.91-003
09-10-91
Approval of Continuing Education Courses by State Board
						of Private Career Education
076.00.91-004
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.93-001 - Real Estate License Law Time-Share Act and Regulations

Current through Register Vol. 49, No. 6, June, 2024
TITLE 17
CHAPTER 35
REAL ESTATE BROKERS AND SALESMEN
SUBCHAPTER 1 - REAL ESTATE LICENSE LAW -
		  GENERAL PROVISIONS
17-35-101. Definitions.
(a) As used in this chapter, unless the
		  context otherwise requires:
(1) "Real estate
		  principal broker" means an individual other than a real estate salesman, who
		  for another and for compensation or the expectation of compensation:
(A) Sells, exchanges, purchases, rents, or
		  leases real estate;
(B) Offers to
		  sell, exchange, purchase, rent, or lease real estate;
(C) Negotiates, offers, attempts, or agrees
		  to negotiate the sale, exchange, purchase, rental, or leasing of real
		  estate;
(D) Lists, offers,
		  attempts, or agrees to list real estate for sale, lease, or exchange;
(E) Auctions or offers, attempts, or agrees
		  to auction real estate;
(F) Buys,
		  sells, offers to buy or sell, or otherwise deals in options on real estate or
		  improvements thereon;
(G) Collects,
		  offers, attempts, or agrees to collect rent for the use of real
		  estate;
(H) Advertises, or holds
		  himself out as being engaged : n the business of buying, selling, exchanging,
		  leasing, or rental of real estate;
(I) Assists or directs in the procuring of
		  prospects calculated to result in the sale, exchange, leasing, or rental of
		  real estate;
(J) Assists or directs
		  in the negotiation of any transaction calculated or intended to result in the
		  sale, exchange, leasing, or rental of real estate;
(K) Engages in the business of charging an
		  advance fee in connection with any contract whereby he undertakes to promote
		  the sale of real estate, either through its listing in a publication issued for
		  that purpose or for referral of information concerning real estate brokers or
		  both;
(L) Performing any of the
		  foregoing acts as an employee of or on behalf of the owner of real estate, or
		  interest therein, or improvements affixed thereon, for compensation;
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.94-002 - Change Requirement for Applicants to Obtain Signatures from Persons Who Have Known Them

Current through Register Vol. 49, No. 6, June, 2024
AMENDED REGULATIONS
To Change Requirement for Applicants to Obtain Signatures From
			 Persons Who Have Known Them
4.1 (a)
		  (5)
The statements of three (3) adults who have known the applicant
			 for at least one (1) year that the applicant has a good reputation for honesty,
			 trust-worthiness and integrity sufficient to safeguard the interests of the
			 public.
4.1 (b) (4)
The statements of three (3) adults who have known the applicant
			 for at least one (1) year that the applicant has a good reputation for honesty,
			 trust-worthiness and integrity sufficient to safeguard the interests of the
			 public.
Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.96-001 - 6.2 Inactive Status Renewal; 7.5 Termination/Transfer; 8.5 Fidelity/ Honest Dealing; 10.1 Dealing Ind. of Principal Broker; 10.5 Advertising; 10.10 Agreements to be Written; 10.16 Crim. Convict. and Disciplinary Actions; 11.3 Approved Courses

Current through Register Vol. 49, No. 6, June, 2024
6.2
Inactive Status Renewal.
(a) Any
		  licensee who does not wish to engage in the real estate business at the time of
		  renewal may apply for inactive status.
(1) A
		  licensee who renews a license on inactive status for the calendar year 1994 or
		  later may renew on inactive status for three (3) consecutive calendar years. If
		  such licensee does not activate the license before the end of the third (3rd)
		  calendar year the licensee shall be regarded as an original
		  applicant.
(2) A licensee whose
		  license was renewed on inactive status for the calendar year 1993 or before may
		  renew on inactive status for five (5) consecutive calendar years. If such
		  licensee does not activate the license before the end of the fifth (5th)
		  calendar year, the licensee shall be regarded as an original
		  applicant.
Arkansas Administrative Code › Agency 078 - Board of Review › Rule 078.00.63-001 - Arkansas Board of Review Regulations Governing Employment Security Appeals Before the Appeal Tribunal and the Board of Review

Current through Register Vol. 49, No. 6, June, 2024
ARKANSAS BOARD OF REVIEW REGULATIONS GOVERNING APPEALS
The Board of Review, in accordance with Arkansas Statute 81--1107 (d) (4), prescribes the following regulations.
REGULATION I
A. APPEAL TO APPEAL TRIBUNAL
(1) Appeals from the determination or redetermination of the Commissioner shall be heard and decided by an appeal tribunal consisting of a referee appointed in accordance with Section 11(d) of the Arkansas Employment Security Act; provided, that if there is pending an appeal or appeals which, in the opinion of the referee, should be heard by a tribunal consisting of three members, the referee shall so notify the Board of Review and the Board shall appoint the other two members, one of whom must be a representative of employers and the other a representative of employees, the referee serving as chairman; provided further, that if either of the representatives so appointed is absent or disqualified, the appeal shall be heard and decided by the referee alone, or in his discretion, postponed until such time as the absent or disqualified member can be present or replaced.
Arkansas Administrative Code › Agency 079 - Sanitarians, Arkansas State Board of Registered Professional › Rule2 079.00.76-001 - Rules and Regulations Pertaining to General Sanitation

Current through Register Vol. 49, No. 6, June, 2024
Regulation 1. MEETINGS OF THE BOARD
The Board shall hold its regular meetings as follows:
The fourth Friday in January, April, July, and October. The Board shall have the power to call special meetings at such times as a quorum of the Board shall deem necessary. It may meet at such places as a majority may agree upon giving due consideration to the convenience of the Board and the applicants for examination or reciprocity.
Regulation 2.COMPLAINTS-HEARING-APPEAL
Any person may file a complaint with the Board against any person having a license to practice as a Registered Sanitarian in this state charging him with:
(1) Failure to have the necessary qualifications as set out in Ark. State. 71-1608 of this Act, and
(2) With the commission of any of the offenses enumerated and described as unprofessional conduct in Ark. Stat. 71-1617.
The said complaint shall set forth a specification of charges in sufficient detail that the person so accused shall have full and complete disclosure to him of any alleged acts of misconduct, impropriety or lack of qualifications. When such complaint is filed, the Secretary of the Board shall mail a copy thereof to the person so accused by registered mail, at his last address of record with a written notice of the time and place of the hearing thereon advising him that he may be present in person and by counsel if he so desires, to offer evidence and be heard in his defense. The time fixed for such hearing shall not be less than 20 days from the date of the mailing of the notice.
At the time and place fixed for a hearing before the Board, the Board shall receive evidence upon the subject under consideration and shall accord the person against whom charges are preferred a full and fair opportunity to be heard in his defense. The Board shall not be bound by strict or technical rules of evidence, but shall consider all evidence fully and fairly, provided however, that all oral testimony considered by the Board must be under oath. If the person so charged be found not guilty of these things and matters with which he is charged the Board shall dismiss the charges or complaint, but should such person be found guilty, the Board shall (a) revoke his license: (b) suspend his license for a period not to exceed one year: or (c) grant him probation under terms and conditions to be determined by it for the best interest of the person so charged and the people of the State of Arkansas. Appeal may be had by either of the parties from the decision of the Board in the manner now provided by law. All evidence considered by the Board shall be reduced to writing and available for the purpose of appeal or certiorari to any of the parties of said hearing. Nothing herein shall be construed so as to deprive any person of his rights without full, fair and impartial hearing. The words "license" and "registration" are synonymous in these regulations.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.07-001 - Rule No. 7-4 -- Employee Contribution Rate; Rule No. 8-4 -- Direct Rollovers Eligibility

Current through Register Vol. 49, No. 6, June, 2024
DEFINITIONS
1.
Salary
means the remuneration
		  paid to an employee in a position covered by the Arkansas Teacher Retirement
		  System and on which the employer withholds federal income tax.
2.
Participating employers
means
		  local school districts, cooperative education services areas, vocational
		  centers, the Department of Correction, open enrollment charter schools, all
		  public postsecondary institutions, the educational components of certain state
		  agencies and instrumentalities, or an educational nonprofit corporation
		  approved by the Board of Trustees in accordance with rules and regulations
		  established by the Board.
3.
Adjustments
include error corrections, payments for members who
		  were omitted from the correct reporting period, and any adjustments agreed to
		  by both the employer and the Teacher Retirement System.
RULES FOR THE EMPLOYER CONTRIBUTION RATE
1. Effective July 1, 2003, the
		  employer contribution (matching) rate shall be the rate established by the
		  Board of Trustees of the Arkansas Teacher Retirement System prospectively for
		  each year pursuant to A.C.A. §§ 24-2-701(c) and
		  24-7-401(c).
2. The rate shall be
		  set by the Board following consultation with its actuary. In determining such
		  rate, the Board shall consider the financial objectives set forth in A.C.A.
		  § 24-2-701 and § 24-7-401 and shall base the rates on the actuary's
		  determination of the rate required to fund the plan in accordance with these
		  financial objectives.
A. The employer
		  contribution rates for the fiscal years ending June 30, 2008, and June 30,
		  2009, shall not exceed fourteen percent (14%).
B. If the costs of benefit commitments for
		  service previously rendered are overfunded, the plan may deduct a level payment
		  that, if deducted annually over a reasonable period of future years, will fully
		  liquidate the overfunded portion of the costs.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.07-007 - Rule No. 9-3 - Disability Retirement

Current through Register Vol. 49, No. 6, June, 2024
DEFINITIONS
1.
Active member
means any
		  member rendering service to an employer that is covered by the
		  System.
2.
Actual service
means service rendered in a position covered by the System and does not
		  include purchased, free, or reciprocal service.
3.
Board
means the Board of
		  Trustees of the Arkansas Teacher Retirement System (ATRS.)
4.
Full-time employment
for a
		  disability retirant returning to work is defined as at least 480 hours in a
		  fiscal year.
5.
Medical
		  Committee
is a committee of three physicians appointed by the Board
		  under § 24-7-303 for the purpose of evaluating disability
		  applications.
6.
Part-time
		  employment
for a disability retirant returning to work is defined as
		  less than 480 hours in a fiscal year.
7.
Reciprocal service
means
		  credited service rendered under a reciprocal system as defined by §
		  24-2-401.
8.
Retirant
means a former active member receiving an ATRS annuity.
9.
System
means the Arkansas
		  Teacher Retirement System.
RULES
1. An
		  active member must terminate employment to become eligible for disability
		  retirement benefits.
A. Once the System
		  receives a completed disability application from an active member who has five
		  (5) or more years of actual and reciprocal service, the disability application
		  will be evaluated by the System's Medical Committee. A member, who as a result
		  of a personal injury or disease and who most likely is or will become totally
		  and permanently physically or mentally incapacitated to perform the work duties
		  of his/her position covered by the System, may be retired by the
		  Board.
B. The member must have been
		  an active member of the System or a reciprocal system at the onset of the
		  disability. Active membership continues beyond the fiscal year in which actual
		  service is rendered provided the employing institution certifies continued
		  employment. Leave of absence with pay, upon which the member is reported as an
		  active member, also continues active membership. Disability protection
		  continues for deferred members, provided the applicant's physician presents
		  medical information to attest that the onset of the disability occurred while
		  last employed in a position covered by the System.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.09-001 - No. 7-1: Calculation of Final Average Salary; No. 7-2: Proof of Service Credit; No. 9-1: Age and Service (Voluntary) Retirement; No. 10-2: Employment of an ATRS Retiree by a Participating Employer; No. 11-2: Lump-Sum Death Benefit

Current through Register Vol. 49, No. 6, June, 2024
DEFINITIONS
1.
Salary
means the remuneration
		  paid to a member by an ATRS participating employer on which the employer
		  withholds federal income tax. This includes all salary "picked up" by the
		  employer including employee contributions to a qualified retirement plan,
		  deferred compensation plan, or cafeteria plan. For remuneration paid other than
		  in cash, salary is the amount reported to the Internal Revenue Service for
		  income tax purposes.
2.
Final
		  Average Salary
means the average of the salaries paid to a member by a
		  participating employer during the fiscal year ending June 30 used in
		  calculating a member's retirement annuity under A.C.A. §
		  24-7-705.
3.
Participating
		  Employer
means an employer who participates in the Arkansas Teacher
		  Retirement System whose employees are eligible for membership under A.C.A.
		  § 24-7-501 or other applicable law.
REGULATIONS
1. The Board of Trustees may set the number
		  of years used in calculating a member's final average salary at no less than
		  three (3) years or more than five (5) years.
2. For purposes of calculating a member's
		  final average salary, the System will include salary received from all
		  participating employers during a fiscal year.
3. When calculating final average salary, the
		  following limits shall apply:
A. The System
		  shall rank the member's highest salary years from lowest to highest. The lowest
		  salary year shall be considered the initial base year. Except for the base
		  year, the highest salary years shall be reduced to the extent either exceeds
		  120% of the prior year's salary, subject to the limitations in ACA §
		  24-7-202(27)(c).
B. However, if a
		  salary year used in calculating final average salary does not constitute salary
		  for a full service year, the next highest salary year shall not be reduced
		  although it may exceed by 120% or more the next highest or highest
		  year.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.09-002 - Rule Nos.: 4- 1, 4-2, 4-3 - Board composition and elections; 7-3, 7-4, 9-8 - Reporting contributions and error corrections; 9-1 - Retirement/benefits definitions ; 9-3, 10-1, 11-1 - Retirement and benefits

Current through Register Vol. 49, No. 6, June, 2024
The general administration and proper operation of the System is
			 vested in the Board of Trustees that consists of eleven (11) elected members
			 and four (4) ex-officio members. Pursuant to ACA § 24-7-301, the Board
			 shall adopt rules and regulations regarding the election of trustees and
			 vacancies.
I.
GENERAL RULES FOR
		  CANIDACY AND VOTING IN TRUSTEE ELECTIONS
A. For purposes of eligibility for an active
		  member trustee position and voting, "active members" shall mean active members
		  as defined in A.C.A. § 24-7-202(2) and members participating in T-DROP, if
		  employed by a participating employer and receiving T-DROP plan
		  deposits.
B. If a candidate is
		  employed in more than one position with a participating employer(s),
		  eligibility shall be determined based on his/her primary position for which
		  he/she receives the greater percentage of covered salary.
C. For purposes of eligibility for an
		  administrator trustee position or voting for that position, "administrator"
		  shall mean a public school superintendent, assistant superintendent, principal,
		  or vice-principal; a higher education president, chancellor or director; or a
		  community college, vocational/ technical or cooperative director, president, or
		  vice president, who is employed by a participating employer OR any employee of
		  an education related agency participating in ATRS that is employed in a
		  position grade C127 or higher, including unclassified employees.
D. For purposes of eligibility for a licensed
		  trustee position or voting for that position, "licensure" shall mean a person
		  employed in a position requiring state teaching licensure or an education
		  institution grade C117-C126 and not an administrator.
E. For purposes of eligibility for a
		  nonlicensed trustee position and voting for that position, "nonlicensed" shall
		  mean a member employed in a position with a participating employer that does
		  not require state licensure including employment in an educationally related
		  agency in a position grade C116 or below. Nonlicensed shall not include any
		  position defined as an administrator or licensure.
F. Only members are authorized to vote in a
		  trustee election. Guardians, attorneys-in-fact, or others may not vote on
		  behalf of a member.
G. Terms not
		  defined in these rules shall have the meaning set forth in A.C.A. §
		  24-7-202
et. seq.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.11-001 - Rule Numbers: 4-2, 6-1, 6-3, 6-4, 6-5, 6-6, 6-7, 6-8, 6-12, 7-1, 7-2, 8-1, 8-2, 8-4, 8-5, 8-6, 8-7, 8-9, 8-10, 8-11, 8-12, 8-13, 8-14, 8-15, 8-16, 8-17, 8-18, 8-19, 8-20, 9-1, 9-2, 9-4, 9-6, 9-7, 9-8, 10-1, 10-3, 11-1, 11-2, 14-1

Current through Register Vol. 49, No. 6, June, 2024
I.
RULES ON
		  ELECTED TRUSTEE NOMINATIONS
A. During
		  December in a year In which an elected trustee position Is subject to election
		  or to fill a vacancy in a special election, the System shall publish a public
		  notice of an upcoming trustee position election in a statewide newspaper for at
		  least five (5) consecutive days. The notice will also be sent to such persons
		  or groups that have requested a notice of Trustee vacancies. The notice shall
		  also be posted on the System's website from December until the closing of the
		  nomination period,
B. For all
		  elected positions, a candidate must submit a petition signed by at least
		  twenty-five (25) ATRS members who are eligible to vote for the trustee position
		  for which the member is seeking nomination, The petition must include the last
		  four digits of each signatory's Social Security number for verification of the
		  member's eligibility to vote for the position.
C. The original petitions for nomination must
		  be submitted to the ATRS Executive Director no later than January 10. Actual
		  delivery must be made by January 10, regardless of postmark date or other
		  methods to attempt delivery.
D.
		  Upon receipt of a petition, the System will confirm its receipt and verify the
		  eligibility of the candidate for the trustee position under ACA §
		  24-7-301. The System will verify the member's signatures signing the petition
		  as eligible voters.
E. The
		  candidates submitting a petition for nomination will receive notice by the
		  System if the petition is accepted and will receive a list of other members who
		  were certified to participate in the election for the trustee position for
		  which he/she seeks nomination.
F.
		  Prior to ballots being mailed, the System or its designee will conduct a random
		  drawing for ballot position with at least two (2) independent witnesses present
		  certifying the drawing. Candidates will be notified of the order in which
		  he/she will be listed on the ballot.
G. Upon request of a candidate, the System
		  will provide a list of mailing addresses of eligible voters for the
		  distribution of a candidate's campaign materials. The candidate's message shall
		  not contain information that would constitute defamation. Campaign materials
		  will be mailed by the election contractor from its place of business. All
		  postage for such materials shall be the candidate's sole expense.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.12-002 - Rule 1-18 : Audit Committee Charter and Rule 6-1: Membership Rules

Current through Register Vol. 49, No. 6, June, 2024
1. There shall be
		  an Audit Committee composed of three members of the ATRS Board of Trustees
		  appointed by the Board Chair and two at-large members from the public with
		  extensive auditing experience approved by the Board. The at-large members must
		  be Independent and have no affiliation with the system.
2. The committee shall meet as needed on call
		  by either the committee chair or the ATRS Internal Auditor. Actions taken by
		  the committee shall be reported to the ATRS Board of Trustees.
3. The committee has authority to conduct or
		  authorize investigations into any matters within its scope of responsibility
		  and to seek any information it requires from employees, all of who are directed
		  to cooperate with the committee's request. In the event the committee has
		  difficulty obtaining the necessary information from an employee or employees,
		  the committee may seek assistance from the Executive Director or the Board of
		  Trustees as the circumstances dictate.
4. The committee may invite members of
		  management, auditors, employees, or others to attend meetings and provide
		  pertinent information as necessary
5. The committee will assist the Board of
		  Trustees in fulfilling the Board oversight responsibility relating to:
A. The financial reporting
		  processes
B. The system of internal
		  controls
C. The internal audit
		  process
D. The System's compliance
		  with laws and regulatory requirements and ethics policies
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.12-003 - Rule 11-1: Survivor Benefits

Current through Register Vol. 49, No. 6, June, 2024
RULES AND REGULATIONS
(as amended by Act 1324 of
			 2009)
If an active member with five (5) or more years of actual and
			 reciprocal service, including credited service for the year immediately
			 preceding his or her death, dies while in active service before retirement,
			 survivor benefits as provided in A.CA. § 24-7-710, plus the monthly
			 stipend under A.CA. § 24-7-713, shall be paid to the following qualifying
			 dependents.
A member shall also be considered active for the purpose of
			 survivor benefits if:
(1) The member
		  has at least ten (10) days of service credit in each prior quarter of the
		  fiscal year from the time the fiscal year began or the member was employed by
		  an ATRS employer, whichever occurs last, provided however, the member must have
		  at least one quarter with ten (10) days of service; and,
(2) The member has at least tea (10) days of
		  service the quarter of the member's death, or. ten (10) working days have not
		  elapsed in the quarter of the member's death.
1.
SPOUSE
A. The member's surviving spouse, who was
		  married to the member for at least two (2) years immediately prior to the
		  member's death, shall receive a surviving spouse benefit.
B. If at the member's death there are no
		  dependent children eligible to receive a dependent child annuity, a surviving
		  spouse who qualifies to receive a surviving spouse annuity may file with the
		  System a waiver of any rights to the spouse annuity.
If the surviving spouse files a waiver of the spouse annuity, the
			 deceased member's residue beneficiary(ies) will receive a single distribution
			 of the member's residue amount, if any.
C. The spouse annuity shall begin under the
		  following schedule:
i. If the member was not
		  eligible for early, regular, or deferred retirement at the time of his/her
		  death, the spouse annuity will begin the date the member would have been
		  eligible to receive retirement benefits and is payable for the spouse's
		  lifetime, regardless of remarriage.
ii. However, if the member had either
		  satisfied the age and service requirements provided in A.C.A. §§
		  24-7-701 or 702 or attained age sixty (60) and was eligible for deferred
		  retirement under A.C.A § 24-7-707, then the spouse annuity commences the
		  month following the member's death and is payable for the spouse's lifetime,
		  regardless of remarriage.
iii. If
		  the surviving spouse is eligible to receive the survivor annuity upon the
		  member's death but would receive a reduction due to the member being less than
		  60 years of age, the spouse may defer receipt of the annuity until the member
		  would have been entitled to an unreduced benefit at age 60 under A.C.A. §
		  24-7-707.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.13-001 - ARTS Rules 6-2, 6-12, 7-1, 7-3, 7-4, 8-2, 8-20, 9-2, 9-4, 9-8, 10-2, 10-3, 11-1, 11-2, 11-5, 12-1, 13-1, 15-1, 16-1, 17-1

Current through Register Vol. 49, No. 6, June, 2024
RULE 6-2
RECIPROCITY
A.C.A. §§ 24-2-401-408 as amended by Act 1022 of 2005 ,
			 Acts 97 and 297 of 2007, and Act 555 of 2013
I.
DEFINITIONS
A.
Reciprocal System
means the
		  Arkansas Teacher Retirement System in operation June 30, 1957, and continued by
		  statutes; the Arkansas State Highway Employees' Retirement System, established
		  by A.C.A. § 24-5-103; the Arkansas Public Employees' Retirement System
		  established by A.C.A. § 24-4-103; the Arkansas State Police Retirement
		  System established by A.C.A. § 24-6-203; the Arkansas Judicial Retirement
		  System established by A.C.A. § 24-8-201; the Arkansas District Judge
		  Retirement System established by A.C.A. §§ 24-8-801-824; the Arkansas
		  Local Police and Fire Retirement System provided for under A.C.A. §
		  24-10-101; or an alternate retirement plan for a public college or university,
		  or the Arkansas Department of Higher Education provided for under A.C.A. §
		  24-7-801
et seq
., or for a vocational-technical school or the
		  Department of Workforce Education (formerly the Division of Vocational and
		  Technical Education) provided for under A.C.A. § 24-7-901
et
		  seq.
B.
State
		  Employer
means the public employer whose employees are covered under the
		  Arkansas Teacher Retirement System, the Arkansas State Highway Employees'
		  Retirement System (A.C.A. § 24-5-103), the Arkansas Public Employees'
		  Retirement System (A.C.A. § 24-4-103), the Arkansas State Police
		  Retirement System (A.C.A. § 24-6-203), the Arkansas Judicial Retirement
		  System (A.C.A. § 24-8-201), or the Arkansas District Judge Retirement
		  System (A.C.A. §§ 24-8-801-824). "State employer" also includes a
		  public employer that is a college, university, or the Arkansas Department of
		  Higher Education (A.C.A. § 24-7-801
et seq
.), or a
		  vocational-technical school or the Department of Workforce Education (formerly
		  the Division of Vocational and Technical Education (A.C.A. § 24-7-901
et seq
.).
C.
Alternate Retirement Plans
refers to the retirement plan(s) of a
		  public college or university, or the Department of Higher Education provided
		  for under A.C.A. § 24-7-801
et seq
., or for a
		  vocational-technical school or the Department of Workforce Education (formerly
		  the Division of Vocational and Technical Education) provided for under A.C.A.
		  § 24-7-901
et seq
.
D.
Preceding System
is a
		  previous retirement system of record as defined above.
E.
Succeeding System
is the
		  current retirement system of record, following membership in a retirement
		  system covered above.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.13-002 - Calculation of Final Average Salary (Rule 7-1)

Current through Register Vol. 49, No. 6, June, 2024
RULE 7-1
CALCULATION OF FINAL AVERAGE
		  SALARY
A.C.A. § 24-7-202, A.C.A. § 24-7-602, A.C.A. §
			 24-7-705, and A.C.A.§ 24-7-736 (SEE ALSO POLICY NOS. 7-3 AND 7-4.)
I.
DEFINITIONS
A.
Participating Employer
means
		  an employer who participates in the Arkansas Teacher Retirement System whose
		  employees are eligible for membership under A.C.A. § 24-7-501 or other
		  applicable law.
B.
Partial
		  Year Service Year
means service in a fiscal year that constitutes less
		  than a full year of service due to less than the required service days at an
		  ATRS employer due to a reduction in service credit caused by an adjustment in
		  ATRS service credit because reciprocal service credit occurs in the same fiscal
		  year, due to a member retiring prior to the end of a fiscal year, or due to any
		  other law or policy that provides a member less than a full year of service in
		  a fiscal year.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.14-002 - Rule 11-1: Survivor Benefits

Current through Register Vol. 49, No. 6, June, 2024
RULE
		  11-1
SURVIVOR BENEFITS
A.C.A. §§ 24-7-710, 713
I.
GENERAL: See A.C.A § 24-7-710
		  for Survivor Benefit Rules.
A. Benefits
		  may be provided to dependents of qualifying members after the death of the
		  member. To qualify, a member must have five (5) years of actual service and be
		  an active member at the time of death.
B. ATRS considers a member to be active for
		  the purpose of qualifying for survivor benefits under A.C.A. § 24-7-710
		  and if:
i. The member has at least ten (10)
		  days of service credit in each prior quarter of the fiscal year from the time
		  the fiscal year began or the member was employed by an ATRS employer, whichever
		  occurs last, provided however, the member must have at least one quarter with
		  ten (10) days of service; or
ii.
		  The member has at least ten (10) days of service in the quarter of the member's
		  death, or, ten (10) working days have not elapsed in the quarter of the
		  member's death.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.14-003 - Rule 13-1: Administration Adjudications: Staff Determinations and Appeals

Current through Register Vol. 49, No. 6, June, 2024
RULE13-1
		  ADMINISTRATION ADJUDICATIONS: STAFF DETERMINATIONS AND APPEALS
A.C.A. §§ 25-15-201 to 219
I.
Scope and Purpose
A. The purpose of this rule is to govern
		  practice and procedure before ATRS and the Board of Trustees ("Board")
		  involving any issue or claim ("claim(s)") arising as a result of any
		  administrative decision or staff determination of ATRS relating to any
		  retirement plan or program administered by ATRS. ATRS staff is responsible for
		  administering ATRS members' accounts. Sometimes, the staff will make a
		  determination based on ATRS rules and the rule of law that may be adverse to a
		  member's claim. This rule outlines the procedure for a member to appeal a
		  decision of ATRS.
B. This rule
		  applies to any claim of a member. For purposes of this rule, "member" includes
		  any member of ATRS as defined in A.C.A. § 24-7-702, as well as any
		  beneficiary of a member; any retiree of ATRS; any guardian, administrator, or
		  executor of a member, retiree, or beneficiary; or any public school (all such
		  categories of persons shall be referred to within this rule as the
		  "member").
C. This rule should be
		  read in conjunction with the Arkansas Administrative Procedures Act.
See
A.C.A. §§ 25-15-201 -219 (the "APA"). To the
		  extent any term or provision of this rule conflicts with any term or provision
		  of the APA, the terms and provisions of the APA shall supersede this rule and
		  control. This rule does not apply to claims or causes of action that ATRS or
		  the Board may have against a member or any other person or entity, regardless
		  of the origin or nature of the claim.
D. The Board and the ATRS Executive Director
		  have the power to extend any deadline applicable to a member's appeal upon a
		  showing of good cause, except when a Hearing Officer has been assigned, in
		  which case such power shall rest with the Hearing Officer until the completion
		  of the hearing.
E. When compliance
		  with this Rule is based on "delivery", delivery is the earlier of either the
		  date of the postmark, if posted with the United States Postal Service, or the
		  date of actual delivery by one of the following methods:
i. Hand delivery;
ii. Electronic transmission; or
iii. Delivery service other than USPS.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.15-001 - Rule 4-1: Board of Trustees Composition and Elections

Current through Register Vol. 49, No. 6, June, 2024
RULE 4-1 BOARD OF TRUSTEES COMPOSITION AND
		  ELECTIONS
A.C.A. § 24-7-301
The general administration and proper operation of the System is
			 vested in the Board of Trustees that consists of eleven (11) elected members
			 and four (4) ex-officio members. Pursuant to ACA § 24-7-301, the Board
			 shall adopted rules and regulations regarding the election of trustees and
			 vacancies.
I.
GENERAL RULES FOR
		  CANDIDACY AND VOTING IN TRUSTEE ELECTIONS
A. For purposes of eligibility for an active
		  member trustee position and voting, "active members" shall mean active members
		  as defined in § 24-7-202 (2) and members participating in T-DROP, if
		  employed by a participating employer and receiving T-DROP plan
		  deposits.
B. If a candidate is
		  employed in more than one position with a participating employer(s),
		  eligibility shall be determined based on his/her primary position for which
		  he/she receives the greater percentage of covered salary.
C. For purposes of eligibility for an
		  administrator trustee position or voting for that position, "administrator"
		  shall mean a public school superintendent, assistant superintendent, principal,
		  or vice-principal; a higher education president, chancellor or director; or a
		  community college, vocational/technical or educational cooperative director,
		  president, or vice president, who is employed by a participating employer OR
		  any employee of an education related agency participating in ATRS that is
		  employed in a position grade C127 or higher, including unclassified employees.
D For purposes of eligibility for a
		  licensed trustee position or voting for that position, "licensure" shall mean a
		  person employed in a position requiring state teaching licensure or an
		  education institution grade C117-C126 and not an administrator.
E. For purposes of eligibility for a
		  nonlicensed trustee position and voting for that position, "nonlicensed" shall
		  mean employed in a position with a participating employer that does not require
		  state licensure including employment of an educationally related agency in a
		  position Grade C116 or below. Nonlicensed shall not include any position
		  defined as an administrator or licensure.
F. Only members are authorized to vote in a
		  trustee election. Guardians, attorneys-in-fact, or others may not vote on
		  behalf of a member.
G. Terms not
		  defined in these rules shall have the meaning set forth in Arkansas Code §
		  24-7-202
et. seq.
H. An employee working for ATRS is not
		  eligible to be elected to the board, appointed to the board, or be a candidate
		  to be elected or appointed to the board.
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.15-002 - Rule 5-4: Investment Goals

Current through Register Vol. 49, No. 6, June, 2024
RULE 5-4
INVESTMENT GOALS
A.C.A. §§ 24-2-610-619
The overall goal is to achieve, over a period of years, the
			 greatest rate of return for ATRS by balancing risk at a prudent investor level
			 to grow and preserve capital sufficient to pay benefits to members.
The Board may adopt or amend by motion or resolution at any board
			 meeting the ATRS investment policies, investment procedures, and investment
			 asset allocation targets consistent with the Board's fiduciary obligations
			 under the prudent investor rule. ATRS sets performance goals that are approved
			 by the Board after considering recommendations by the General Consultant and
			 ATRS staff.
Adopted:
October 7, 2003
Approved by Board:
October 5, 2015
Amended:
February 1, 2016
Effective
: February 10, 2016
Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.15-003 - Rule 5-5: Investment Strategy

Current through Register Vol. 49, No. 6, June, 2024
RULE
		  5-5
INVESTMENT STRATEGY
A.C.A. §§ 24-2-610-619
Adopted:
October 7, 2003
Approved by Board:
October 5, 2015
Amended:
February 1, 2016
Effective
: February 10, 2016