Arkansas Administrative Code
Agency 088 - Arkansas Teacher Retirement System
Division 01 - Legal Department
Rule 088.01.23-001 - Rule 0-1 ATRS Rules of Organization and Operation
Universal Citation: AR Admin Rules 088.01.23-001
Current through Register Vol. 49, No. 9, September, 2024
§1-101. Information for Public Guidance.
(a)
(1) This rule provides general rules for the organization and operation of the Arkansas Teacher Retirement System.
(2) Additional and more specific information on the policies, rules, and regulations of the system may be found under the Administration tab on the system's website at https://www.artrs.gov/administration, or obtained by contacting the office of the Executive Director of the Arkansas Teacher Retirement System at 501-682-1517.
(b) The system is located at 1400 West Third Street, Little Rock, AR 72201.
(c) A member of the public may obtain information about the system and make submissions or requests to the system by:
(1) Visiting the system's website (www.artrs.gov);
(2) E-mailing the system at info@artrs.gov;
(3) Phoning the system at 501-682-1517; or
(4) Sending a fax to the system at 501 -682-2359.
(d)
(1) Visits to the system may be made between the business hours of 8:00 a.m. and 4:30 p.m., Monday through Friday, except on holidays.
(2) Appointments are not required, but are encouraged.
(e)
(1) The system maintains a list of persons holding certain responsibilities for handling FOIA requests and requests by the public, so that the public may obtain information about the system or make submissions or requests.
(2) This list is available to the public.
(3) The names, mailing addresses, telephone numbers, and electronic addresses can be obtained from the system office or the system's website.
(f) The system's policies, rules and regulations, and official forms may be obtained from the system's office or from the system's website, if operational.
§ 1-102. Description of the Arkansas Teacher Retirement System.
(a) The Arkansas Teacher Retirement System is a cost-sharing multiple-employer, defined benefit pension plan established on March 17, 1937, by authority of the Arkansas General Assembly under Arkansas Code §
24-7-101 et seq.
(b) The system is operated as a qualified trust under 26 U.S.C. §
401(a) of the Internal Revenue Code.
(c) The system is a component unit of the State of Arkansas.
(d) The General Assembly is responsible for setting benefits and contributions and amending plan provisions.
(e)
(1) Ultimate authority, general administration and responsibility for the proper operation of the system, and for making effective the provisions of Arkansas Code §
24-7-201 et seq. are vested in the fifteen-member Board of Trustees of the Arkansas Teacher Retirement System.
(2) Eleven (11) members are elected and four (4) members serve as ex officio members by virtue of their positions in state government.
(3) The board appoints the Executive Director of the Arkansas Teacher Retirement System who serves as the chief executive officer of the system.
(f) The board promulgates rules as it deems necessary in the transaction of its business and in administering the system.
(g) For administrative purposes, the Executive Director may organize the system in a manner that he or she determines is most efficient for the operation of the system.
§ 1-103. Organization and Operation of the Board of Trustees of the Arkansas Teacher Retirement System.
(a) The officers of the Board of Trustees of the Arkansas Teacher Retirement System are the chair and vice chair.
(b) The election of officers is held in odd numbered years at the first regular meeting of the board after the beginning of the fiscal year.
(c) The officers perform the duties prescribed by Robert's Rules of Order and the law, rules, and policies applicable to the Arkansas Teacher Retirement System.
(d)
(1) The business of the system is conducted in public meeting pursuant to Robert's Rules of Order.
(2) All meetings are conducted in conformity with the Arkansas Freedom of Information Act, §
25-19-101 etseq.
(3) Regular meetings are held at least quarterly.
(4) Special meetings may be held on the call of the chair or as scheduled by action of the board in a regular meeting.
(5) A quorum for the transaction of business is a majority of the number of voting members of the board.
(e)
(1) The board may create standing and ad hoc committees the membership of which is determined by the chair.
(2) A quorum for the transaction of committee business is a majority of the number of voting members of the committee.
(f)
(1) The Executive Director of the Arkansas Teacher Retirement System prepares the agenda for regular and special meetings of the board.
(2) The agenda is distributed to the board and made available to the public in advance of the meeting.
(3) The agenda may be amended by appropriate motion.
(h)
(1) Trustees, members, and other individuals who wish to have a matter placed as additional item on an agenda for a regular meeting of the board should submit a request to the executive director to have the matter placed on the agenda.
(2) The request should be submitted to the executive director before the regular meeting of the board at which the matter will be included as an agenda item.
§ 1-104. Rulemaking.
(a) The Board of Trustees of the Arkansas Teacher Retirement System is authorized by the legislature to promulgate rules.
(b) The Arkansas Teacher Retirement System follows the requirements of the Arkansas Administrative Procedure Act, Arkansas Code §
25-15-201 et seq., and in particular Arkansas Code §§
25-15-203 and 25-15-204.
(c) The system is required to abide by Arkansas Code §
10-3-309, which establishes a method for continuing legislative review and approval of agency rules.
(d)
(1) The board or the system's staff may request the initiation of the rulemaking process, which includes adopting a new rule or amending or repealing an existing rule.
(2) Persons outside the system may petition for the issuance, amendment, or repeal of any rule.
(3) However, staff of the system shall not proceed with the rulemaking process for a rule unless the rule is approved by the board.
Authority: Arkansas Code § 25-15-201 et seq.
History
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Adopted: |
December 6, 2005 |
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Amended: |
April 26, 2007 |
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Adopted by Board: |
February 6, 2012 |
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Amended: |
April 18, 2012 |
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Effective: |
May 29, 2012 |
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Effective: |
TBD |
Rulel |
Disclaimer: These regulations may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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