A.C.A. §§ 24-7-1301 - 1316
1st Quarter: July 1 through September 30
2nd Quarter: October 1 through December 31
3rd Quarter: January 1 through March 31
4th Quarter: April 1 through June 30
The participant's T-DROP benefit will be the monthly straight life annuity benefit to which the member would have been entitled had the member retired under A.C.A. § 24-7-701.
Under this subsection, uniformed services of the United States are limited to the armed forces, the Army, and the Air National Guard when engaged in active duty for training, inactive duty training, full-time National Guard duty, the commissioned corps of the Public Health Service, and any other category of persons designated by the President in time of war or emergency.
After establishing a T-DROP Cash Balance Account and:
For the first fiscal year of participation: | 2.00% interest. |
For two (2) fiscal years: | 2.25% interest. |
For three (3) fiscal years: | 2.50% interest. |
For four (4) fiscal years: | 2.75% interest. |
For five (5) fiscal years: | 3.00% interest. |
For six (6) fiscal years: | 3.25% interest. |
For seven (7) fiscal years: | 3.50% interest. |
For eight (8) or more fiscal years: | 4.00% interest. |
These interest rates are minimum interest rates that apply to T-DROP Cash Balance Accounts that are established while these rates are in effect. The T-DROP Cash Balance Account interest may be increased by the ATRS Board of Trustees on a forward-looking and Ad Hoc basis.
Approved: June 13, 1995
Amended: July 30, 1997
June 17, 2003
February 15, 2005
July 18, 2005
April 26, 2007
February 1, 2010 under emergency rules.
June 7, 2010 Permanent
July 1, 2011 (Emergency)
Adopted: August 8, 2011
Effective: November 11, 2011
Approved by Board: February 6, 2012
Amended: April 2, 2012 (Emergency)
Effective: May 29, 2012
Approved by Board: July 26, 2013
Amended: October 9, 2013
Effective: November 8, 2013
Approved by Board: December 1, 2014 Amended: May 18, 2015
Effective: June 16, 2015
Approved by Board: October 5, 2015
Amended: February 1, 2016
Effective: February 10, 2016
088.00.15 Ark. Code R. 009