Arkansas § 24-7-804 Establishment and administration of plan

Arkansas Statutes

§ 24-7-804 — Establishment and administration of plan

Arkansas § 24-7-804

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This text of Arkansas § 24-7-804 (Establishment and administration of plan) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 24-7-804 (2026).

Text

(a)The board of any college and the Arkansas Higher Education Coordinating Board may establish and maintain an alternate retirement plan which shall authorize the purchase of contracts providing retirement and death benefits for staff members and employees of the Division of Higher Education.

(b)Under the plan, staff members and division employees shall contribute, to the extent authorized or required, toward the purchase of the contracts, which shall be issued to and become the property of the participants.

(c)The board of any college which elects to establish and maintain an alternate retirement plan and the Commissioner of the Division of Higher Education, if it elects to establish and maintain a plan, shall have authority to administer the plan and to perform or authorize the perfor

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(a) The board of any college and the Arkansas Higher Education Coordinating Board may establish and maintain an alternate retirement plan which shall authorize the purchase of contracts providing retirement and death benefits for staff members and employees of the Division of Higher Education. (b) Under the plan, staff members and division employees shall contribute, to the extent authorized or required, toward the purchase of the contracts, which shall be issued to and become the property of the participants. (c) The board of any college which elects to establish and maintain an alternate retirement plan and the Commissioner of the Division of Higher Education, if it elects to establish and maintain a plan, shall have authority to administer the plan and to perform or authorize the performance of all such functions as may be reasonably appropriate in its administration.

Legislative History

Amended by Act 2023, No. 786,§ 50, eff. 4/12/2023. Amended by Act 2019, No. 910,§ 2373, eff. 7/1/2019. Acts 1967, No. 436, §§ 2, 7; A.S.A. 1947, §§ 80-1458, 80-1463; Acts 1991, No. 511, § 2.