Arkansas Administrative Code › Agency 088 - Arkansas Teacher Retirement System › Rule 088.00.08-001 - Rules No. 4-1: Board Composition and Elections; No. 4-2: Election Procedures for Member & Retirant Trustees; No. 4-3: Schedule for Active & Retirant Trustees Elections; No. 5-3: Asset Allocation

Current through Register Vol. 49, No. 6, June, 2024
BOARD OF TRUSTEES COMPOSITION AND
ELECTIONS
A.C.A. § 24-7-301 (as amended by Acts 418 of 1997, 866 of
			 1999, and 97 of 2007)
A.C.A. § 24-7-301 provides that the general administration
			 and responsibility for the proper operation of the Arkansas Teacher Retirement
			 System and for making effective the provisions of the Teacher Retirement laws
			 are vested in the Board of Trustees of 15 persons. The Bank Commissioner, the
			 Treasurer of the State, the Auditor of the State, and the Commissioner of the
			 Department of Education serve as ex officio trustees. Eleven (11) members serve
			 as elected trustees, seven (7) who are active members of the System with at
			 least five (5) years of actual service In force, one (1) who is a member of a
			 racial ethnic group and is either an active or retirant member, and three (3)
			 who are retirant members.
For these purposes, participants in the Teacher Deferred
			 Retirement Plan (T-DROP) will be considered active members. The active and
			 retirant trustees shall be elected in accordance with such rules and
			 regulations as the Board shall from time to time adopt to govern such
			 elections.
ACTIVE MEMBER TRUSTEES
1. There shall be four (4) active member
		  trustees each of whom must be employed in a position requiring state teaching
		  licensure or employed by an ATRS-covered agency in a position between Grades
		  17-23. Such a trustee shall NOT be employed as a school administrator
		  (superintendent, assistant superintendent, principal, vice principal,
		  president, chancellor or director of a state Institution of higher education,
		  community/technical college, or vocational center/ cooperative), or employed In
		  a position Grade 24 and above with an ATRS covered agency. One (1) active
		  member trustee will be elected from each of the four (4) congressional
		  districts of the State of Arkansas.
Active members employed in positions requiring state licensure,
			 but not administrators' licenses, will elect these trustees. Such members must
			 NOT be employed in positions as school administrators (superintendent,
			 assistant superintendent, principal, vice principal, president, chancellor, or
			 director of a state Institution of higher education, community/technical
			 college, or vocational center/ cooperative of employed by an ATRS-covered
			 agency In a position Grade 24 and above.
2. There shall be two (2) active member
		  trustees each of whom must be employed in a position requiring school
		  administrator licensure (superintendent, assistant superintendent, principal,
		  vice principal, president, chancellor, or director of a state institution of
		  higher education, community/ technical college, or vocational
		  center/cooperative), or employed by an ATRS-covered agency in a position Grade
		  24 and above, one (1) of which must be a superintendent.
These trustees will be elected by members employed as school
			 administrators (superintendent, assistant superintendent, principal, vice
			 principal, president, chancellor, or director of a state institution of higher
			 education, community/technical college, or vocational center/cooperative) or
			 employed by an ATRS-covered agency in a position Grade 24 and
			 above.
3. There shall be one
		  (1) active member trustee who Is employed in a position that does not require
		  state teaching licensure or is employed by an ATRS-covered agency in a position
		  Grade 16 and below.
This member trustee shall be elected by members who are employed
			 in positions not requiring state teaching licensure or are employed by an
			 ATRS-covered agency In a position Grade 16 and below.
MINORITY TRUSTEE
There shall be one (1) member trustee of a minority racial ethnic
			 group who is either an active or a retired member of the System. This member
			 trustee shall be elected by the active and retired membership of the
			 System.
RETIRANT MEMBER TRUSTEES
There shall be three (3) retirant member trustees who receive an
			 annuity paid by the System. These trustees shall be elected by the retired
			 membership of the System. Retirant trustees must reside in Arkansas.
TERM OF OFFICE AND VACANCIES
1. The term of office of each member and
		  retirant trustee elected after July 1, 1997, shall be six (6) years.
2. Each trustee shall continue to serve as
		  trustee until his or her term expires.
3. In a year In which a six (6) year term of
		  an active member or retirant member trustee expires, the position shall be
		  filled under the regular election schedule in ATRS Policy No. 4-3.
RULES ON TERM OF OFFICE
1. An active member trustee shall be
		  ineligible to serve after becoming inactive or retiring.
2. An active member trustee shall be
		  ineligible to serve if he or she changes employment category during his or her
		  term of office and the employment category is a requirement of the trustee
		  position, i.e., an administrator becomes a classroom teacher.
3. A retirant member trustee shall be
		  ineligible to serve after becoming active.
4. An absence that is excused by a majority
		  of the members of the Board shall not constitute a vacancy. Attendance on
		  either day of a two-day Board meeting is sufficient to meet the attendance
		  requirement.
5. The Board of
		  Trustees or its designee will notify the Board member after the second
		  consecutive absence.
RULES ON VACANCIES
A vacancy will occur if the trustee position becomes vacant due
			 to one of the following:
1. A member or
		  retirant trustee is absent for three (3) consecutive regular Board meetings and
		  the absences are not excused by the Board;
2. A trustee is ineligible due to a change in status under A.C.A.
		  § 24-7-302(a)(2)(A-B) resulting in three (3) consecutive absences at
		  regular Board meetings prior the expiration of the trustee's term; or
3. Resignation or death of a trustee which
		  will result in three (3) consecutive absences at regular Board meetings prior
		  to the expiration of the trustee's term.
4. If a vacancy occurs, it will be filled
		  during the next annual ATRS election held by the system, utilizing approved
		  election requirements and procedures for that position. (Revised May 15,
		  2001.)
BOARD POSITIONS
Position #1 (1st Congressional District)
Position #2 (2nd Congressional District)
Position #3 (3rd Congressional District)
Position #4 (4th Congressional District)
Position #5 (Administrator - Superintendent only)
Position #6 (Administrator)
Position #7 (Nonlicensed)
Position #8 (Minority)
Position #9 (Retirant)
Position #10 (Retirant)
Position #11 (Retirant)
POSITION QUALIFICATIONS AND VOTER ELIGIBILITY IN EACH
			 ELECTION
1. Positions #1 -#4
		  (Active member Trustees from Congressional Districts)
A. Qualifications for candidacy:
i. Must be an active member of ATRS (Includes
		  T-DROP participants);
ii. Must have
		  five (5) years of actual service In ATRS;
iii. Must be employed in a position requiring
		  a state teaching license or employed by an ATRS-covered agency in a position
		  between Grades 17-23. Such candidate shall not be employed as a school
		  administrator (superintendent, assistant superintendent, principal, vice
		  principal, president, chancellor, or director of a state Institution of higher
		  education, community/technical college, or vocational center/cooperative) or
		  employed in a position Grade 24 and above with an ATRS-covered
		  agency;
iv. Must be employed in the
		  congressional district from which he/she is seeking election; and
v. If a candidate holds two or more
		  positions, I.e., works as a teacher and bus driver, eligibility shall be
		  determined by his/her primary employment.