Section 21-5-901 - DefinitionsAs used in this subchapter:
(1) "Cafeteria plan" means a written fringe benefits plan which meets the requirements of the Internal Revenue Code;(2) "Eligible employee" means full-time employees of governmental entities;(3) "Governmental entities" means any agency of the state, any city, any county, any school district, or any other political subdivision of this state;(4) "Salary reduction agreement" means a written agreement between an eligible employee and a governmental entity whereby the employee agrees to reduce his or her salary by a stated amount or an amount equal to the employee's cost of benefits selected under a cafeteria plan; and(5) "Voluntary product" means any individual or group policy and other employee benefits that are wholly paid for by the employee, including without limitation those policies and benefits procured under § 6-17-1115 or provided by the Arkansas State Employees Association, Inc., or a designee of the Arkansas State Employees Association, Inc., that develops and administers a cafeteria plan under § 21-5-904(d).Amended by Act 2023, No. 533,§ 7, eff. 8/1/2023.