Arkansas Administrative Code
Agency 088 - Arkansas Teacher Retirement System
Division 01 - Legal Department
Rule 088.01.23-020 - Rule 14-1 Retirement Fund Asset Accounts
Universal Citation: AR Admin Rules 088.01.23-020
Current through Register Vol. 49, No. 9, September, 2024
§ 14-101. Retirement fund asset accounts.
(a) In accordance with Arkansas Code §
24-7-405, the Board of Trustees of
the Arkansas Teacher Retirement establishes the following accounts to manage
the Arkansas Teacher Retirement System's fund assets and liabilities:
(1) The Members' Deposit Account is the
account in which members' contributions, interest, purchases of service,
refunds, transfers, and other related activity are reported in accordance with
current accounting processes and procedures used by the system's fiscal
department;
(2) The Employer
Accumulation Account is the account in which employers' contributions and
transfers are reported in accordance with current accounting processes and
procedures used by the system's fiscal department;
(3) The Retirement Reserve Account is the
account into which transfers for the payment of benefits to retirees and
beneficiaries are reported in accordance with current accounting processes and
procedures used by the system's fiscal department;
(4) The Income-Expense Account is the account
in which all investment income is reported and from which interest credits and
other expenses of the board are reported for the administration and operation
of the system in accordance with current accounting processes and procedures
used by the system's fiscal department; and
(5) The Teacher Deferred Retirement Option
Plan Account is the account in which T-DROP participants' T-DROP account
activity is reported in accordance with current accounting processes and
procedures used by the system's fiscal department.
(b) The accounts established by the board may
have subaccounts as deemed necessary by the system's staff to further classify
and manage the assets of the system.
Authority: Arkansas Code § 24-7-405
History
|
Adopted: |
July 1,2011 |
(Emergency) |
|
Adopted: |
August 8, 2011 |
|
|
Effective: |
November 11, 2011 |
|
|
Effective: |
TBD |
Rule 14.1 |
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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