When you die, 100% of your monthly benefit will be paid to the person you have chosen. "We're going to have to take a look at some raise in the contribution levels for employees as well as the state, and I know the governor is not going to like" raising the rate charged to state government, he said. There is only a 17% difference between Bentonville and Fort Smith for salary. The bills were intended to reduce the system's unfunded liabilities. As of June 30, the system's unfunded liabilities totaled $2.42 billion with a projected payoff period of 23 years, according to the actuary. "It sounds like you are saying that when you retired, you retired under the assumption that there would be a 3% COLA, and that was an important consideration for you," Baird said. That cost-of-living adjustment is a sensitive matter to retirees of state government's second-largest retirement system, which has more than $8 billion in investments. (1) July 1 of each year, retirants, survivors, participants in the Teacher Deferred Retirement Option Plan, and annuity beneficiaries who have been receiving monthly benefits for the previous twelve (12) months shall receive a simple cost of living adjustment. var addy62cfa1d4a7364e7184ac09edd5a52cdd = 'info' + '@'; Through the State Retirement System in Arkansas, teachers can choose to contribute money from their salary to the fund. Asa Hutchinson said, "The current appointment process has worked well for decades and I am satisfied that changes are not necessary.". It is called a Straight Life Annuity. And then they cant get any more benefits from this plan. The Arkansas Teacher Retirement System is one such option available for those who want more control over how they manage these aspects in their lives. All Rights Reserved. var prefix = 'ma' + 'il' + 'to'; A change in your marital status could affect your retirement benefits and beneficiary designations. This can mean that theyve been ruled mentally incapacitated by a court, or physically unable to do so for whatever reason (elderly parents). The Arkansas Teacher Retirement System is a defined benefit retirement plan established by state law for public school and other public education employees in Arkansas. retirement, the T-DROP benefits will be based on the account balance at the end of the 10th year. (3) The board may adjust the benefit stipend amount by resolution at a meeting of the board. The election to participate in the T-DROP is . (1) Effective July 1, 2013, the Board of Trustees of the Arkansas Teacher Retirement System may modify the amount of the benefit stipend from a maximum of seventy-five dollars ($75.00) per month to not less than one dollar ($1.00) per month for eligible benefit participants as a benefit supplement in addition to the cost of living adjustment under subsection (a) of this section. A 100% survivor annuity is money that you will get if the child dies. That means that, on average, someone who takes this job would make $17.17 an hour. Below are the most relevant links to Arkansas Teacher Retirement Cost Of Living Increase data. A retired teacher should consider the lower cost of living when deciding on a location and salary. Established in 1937, the Arkansas Teacher Retirement System is a defined benefit plan designed to support teachers with payments that last the rest of their lives. "There have been people who have been saying that, 'We hear that you are going to combine all the retirement plans into one,'" Warren said Tuesday. Extended Evening Hours for July Retirement. Sign up for our free summaries and get the latest delivered directly to you. The system's 36,914 retirees were paid $554.8 million (or an average of $14,758 a year) as of June 30, according to a preliminary report in August from system actuary Gabriel, Roeder, Smith & Co.. Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. CHEERS! How To TestGoldAt Home | If this is your first COLA after having retired or entered the DROP in the spring or early summer of last year CONGRATULATIONS! this Section, Chapter 7 - Retirement of Employees of Schools and Educational Institutions, Subchapter 7 - Arkansas Teacher Retirement System -- Benefits. var addyb9b2577e17a40cf14e35c0ed33ff7721 = 'info' + '@'; On our website, we have collected a lot of different data on the cost of living. (1) July 1 of each year, retirants, survivors, participants in the Teacher Deferred Retirement Option Plan, and annuity beneficiaries who have been receiving monthly benefits for the previous twelve (12) months shall receive a simple cost of living adjustment. Little Rock, AR 72201. Montalvo emphasized that this is an important consideration for all of the system's retired members, not just for her. "Can we change anything with new members going on? You already receive all suggested Justia Opinion Summary Newsletters. Members should contact the Call Center if they need a tax withholding change forms or they can make the change on the Member Self Service portal. Click here for more information about how your COLA will be calculated. Linda Montalvo of Benton pressed state lawmakers Tuesday night about whether they are considering recommending changes to the annual cost-of-living adjustment to benefits paid to the Arkansas Public Employees Retirement System's more than 30,000 retired members. How does T-DROP work: T-DROP is an optional "retirement" plan for ATRS members. Unfunded liabilities are the amount by which a system's liabilities exceed an actuarial value of a system's assets. An amount below 100 means Arkansas is cheaper than the US average. Teachers: With the cost of living continuing to increase, you may be thinking more and more about your plans for retirement. However, from a member's effective date, a member may only change the Option election once during the first year of retirement. | phone: (501) 682-1517 | fax: (501) 682-2359 | Copyright 2016 Arkansas Teacher Retirement System. (2) A benefit stipend increase or decrease adopted by the board shall apply to a complete fiscal year and shall remain in effect until adjusted by the board subject to the limitations under subdivision (b)(4) of this section. var path = 'hr' + 'ef' + '='; addyb34cea6b458090b29901eee537025a37 = addyb34cea6b458090b29901eee537025a37 + 'dfa' + '.' + 'arkansas' + '.' + 'gov'; Chapter 142, Laws of 2013 (ND H 1230), relates to expiration of the increase in teachers' fund for retirement member and employer contributions. In Arkansas, you're eligible to retire based on your age and years of service: 28 or more years of service at any age 25 to 27 years of service at any age (reduced benefits) For more information specific to your situation, please contact an ATRS Counselor at (501) 682-1517 or info@artrs.gov. A dependent child who has been considered incompetent by a court of competent jurisdiction. Such a change may allow you to change your beneficiaries. This option means that no monthly payments will be given to your beneficiary after you die. "The governor is not going to like that either. You're all set! This insurance plan is called ARBenefits Retiree. For more information specific to your situation, please contact an ATRS Counselor at (501) 682-1517 or This email address is being protected from spambots. The system charges those governments 15.32% of their employee payrolls, and most of its members -- the employees -- pay 5% of their salaries into the system. ["Teacher Retirement Preretirement Educ","Teacher Retirement Membership","Teacher Retirement Investments","Teacher Retirement Director","Teacher Retirement Deputy Dir","Teacher Retirement Data Processing","Teacher Retirement Counseling","Teacher Retirement Call Center","Teacher Retirement Benefits Pending","Teacher Retirement Accounting"], The Official Website of the State of Arkansas. APERS retirees (including DROP participants) -receive an annual cost-of-living increase (COLA) in their retirement benefit on July 1 of each year once they have been retired or participated in the DROP for twelve months. 13 14 15 subtitle 16 to amend the law concerning the authority 17 of the board of trustees to award an 18 annual cost of living adjustment under 19 the arkansas teacher retirement system; 20 and to declare an emergency. CBA funds are immediately available for withdrawal upon the account funding. var addy_text4749d75b4f6835f3066a4c8375eaaa1e = 'info' + '@' + 'artrs' + '.' + 'gov';document.getElementById('cloak4749d75b4f6835f3066a4c8375eaaa1e').innerHTML += ''+addy_text4749d75b4f6835f3066a4c8375eaaa1e+'<\/a>'; The opportunities in this job category are very limited, but it may be easier to live here because the cost of living might be lower. The options for the retirement systems to reduce their unfunded liabilities include raising the rate charged to employers, the rate charged to the working members, reducing the cost of benefits and/or counting on strong investment returns. Searching for Arkansas Teacher Retirement Cost Of Living Increase information? Here we hope to provide information that will help you make the most of your retirement benefits. If you are a part of this plan and you stop working for a participating employer, or if you die before being able to collect retirement benefits, then any money that people have put in and the interest will be returned to them. Deposits are made on the first work day of each month. In an interview, Montalvo had other cost-saving suggestions for lawmakers besides increasing the vesting period for members. The CBA pays very competitive monthly compounded interest rates beginning the month after the account is established. The system's unfunded liabilities are projected to be paid off within 26 years. "With the retirement [benefits], that's the only way that we've got to take and compete with the market rate employment out there," Sample said. Montalvo suggested that if lawmakers are looking for a cost-saving measure, they could change state law to increase the period when system members are vested for retirement benefits from five years back to 10. You need JavaScript enabled to view it. Disclosure: The owners of this website may receive compensation from some of the companies it is recommending on this site if you click on their links, which allows us to provide this information to you for free. The Cash Balance Account (CBA) is designed for members of the Arkansas Teacher Retirement System (ATRS) who are retiring out of T-DROP and want all or part of their T-DROP account balance in an account with highly competitive interest rates with no risk to principal. 10. She said lawmakers could consider changing the 3% compounded cost-of-living adjustment for future retirees; and basing the final average salary used in calculating benefits on an employee's five highest-paid years rather than the three highest-paid years. The employers would still make their employer contributions for the members who return to work to the system, he said. (We deduct $1 from benefits for . Members can choose one of four options for their ATRS retirement annuity. LITTLE ROCK - Retired teachers recently got an average increase of $51 a month in benefits, thanks to a resolution passed by the Board of Retired of the Arkansas Teacher Retirement System. The person must be one of the following: The death of the person who was your designated beneficiary, divorce, or other marriage dissolution following retirement means that any option plan you elected at retirement to provide you with continuing lifetime benefits will be canceled. var path = 'hr' + 'ef' + '='; A dependent child is someone who cannot legally take care of themselves and needs your guidance. 11. The interest charge that your money earns is set by the ATRS board. It was created in 1937 and had been supporting teachers ever since.In Arkansas, if you are old enough and have worked long enough, then you can retire. Arkansas Teacher Retirement System View Our Website Key Services The meeting ended without any lawmakers saying whether they are considering tinkering with the compounded 3% cost-of-living adjustment. addy4e0c66a98a796efe43661ac3eef3beb3 = addy4e0c66a98a796efe43661ac3eef3beb3 + 'artrs' + '.' + 'gov'; The increases go into effect on the annuity payments issued in July. var prefix = 'ma' + 'il' + 'to'; This is the equivalent of $687/week or $2,976/month. You can stop, start, or adjust federal and state withholding on your retirement income. As you know, COLA is the acronym for cost of living adjustment, the annual increase to your monthly annuity, currently set by the state legislature at three percent. State and local governments paid $293.5 million into the system and members contributed $68.2 million in fiscal 2019, according to a report to the board in August. 11. The company may give you money. Another failed proposal would have gradually increased from 5% to 6% the share of the salary that working members pay into the system. Few companies are hiring Retired Teachers now. This means that there is not much chance to get a higher wage. The annuity upon which plan deposits are calculated shall receive the cost-of-living increase provided for in A.C.A. Please seeCash Balance Account Distribution Request Formsto make a withdrawal. The committee co-chairman, Sen. Bill Sample, R-Hot Springs, told Montalvo that "the reason the committee is here is so you can educate us and communicate with us about your ideas of what we need to be doing with all the [retirement] systems.". How Many Grams In An Ounce OfGold (5) The board may phase in an increase or decrease of the benefit stipend. If you die, 100% of your monthly Option A benefit will go to the person you name as an option beneficiary for the rest of his or her life. Both contributors and non-contributors are eligible for benefits based on the same formula. More information about the details of these benefits can be found on the Employee Benefits Division website. The increase results from the board's voting to compound the annual cost of living adjustment for this year. Montalvo said she worked in the Saline County clerk's office for 32 years and retired in 2013. Welcome to the APERS Retired Members Page. The payment is based on the formula developed by actuaries. "This will strengthen the APERS system significantly," Warren said. Actuaries compare unfunded liabilities to a mortgage on a house. Contact ATRS at (501) 682-1517 orThis email address is being protected from spambots. Remember that you can access your account quickly and securely in the MSS portal on our website at www.apers.org, or give us a call if you have questions, weekdays 7:30 a.m. to 4:30 p.m. at (501) 682-7800 or (800) 682-7377. State and local governments paid $299.4 million into the system in fiscal 2020, while system members contributed $71.4 million to the system, according to a system report. The company will put it in a group of stocks and other important things for retirement if they do. Final Average Salary (Three highest years), Multiplier (1.39% Non-contributory) (2.15% Contributory). "That's really what we are here for, to get your feedback on various provisions, including potential changes to the [cost-of-living adjustment]," said the retirement system's executive director, Duncan Baird. var prefix = 'ma' + 'il' + 'to'; Thanks to a comprehensive support system that provides Arkansas educators with numerous benefits, teachers are better prepared to tackle issues that arise with health and retirement. Tax Withholding Cmi Gold And Silver | There are salaries that are low at $14,100 and as high as $62,567. Partner Simple Cost-Of-Living Adjustments (COLAs) are payable on July 1 for retirees who have been on the ATRS payroll for twelve months or longer. If the first falls on a holiday or weekend, deposits are made the next official work day. (1) The board may remove by board resolution the benefit stipend from the base amount of current retirants and option beneficiaries if the board determines that the removal of the benefit stipend from the base amount is prudent in order to maintain actuarial soundness. You need JavaScript enabled to view it. var addy_textb9b2577e17a40cf14e35c0ed33ff7721 = 'info' + '@' + 'artrs' + '.' + 'gov';document.getElementById('cloakb9b2577e17a40cf14e35c0ed33ff7721').innerHTML += ''+addy_textb9b2577e17a40cf14e35c0ed33ff7721+'<\/a>'; ATRS does not manage or administer health or life insurance for ATRS retirees. Contact 2013 . How Much Gold Can I Buy Without Reporting | Under this option, you will obtain a reduced benefit payment from Social Security. 2021 Arkansas Public Employees' Retirement System, All Rights Reserved, Board Selects Fecher to Lead Agency as Executive Director, Board appoints Woods as Interim Executive Director, Arkansas retirement system chief announces departure, APERS Director's Update - October 2, 2020, A Review of the 2019 Retirement Town Halls. | phone: (501) 682-1517 |fax: (501) 682-2359 |. (3) The redetermined amount shall not be less than the base amount. Sitemap, Copyright Working Holiday Pty Ltd ABN 24 615 642 825. Simple Cost-Of-Living Adjustments (COLAs) are payable on July 1 for retirees who have been on the ATRS payroll for twelve months or longer. (5) The redetermined amount under this subsection is not considered a benefit enhancement under the limitations under 24-1-106. Learn more about adjusting your tax withholding, showing proof of your income, changing beneficiaries, returning to work, and dealing with other situations that may arise. . Contact APERS with any questions. You need JavaScript enabled to view it. Cost of living adjustment (COLA) for July 1, 2022 A A A May 3, 2022 Public safety, corrections, and elected officials plan retirees and surviving beneficiaries will receive benefit increases in July. ATRS acts as a payment agent to withhold health insurance premiums and forward those premiums to EBD on behalf of retirees. This document may not be reprinted without the express written permission of Arkansas Democrat-Gazette, Inc. Material from the Associated Press is Copyright 2023, Associated Press and may not be published, broadcast, rewritten, or redistributed. In other action, the committee also endorsed Warren's House Bill 1347 that would change the public employees retirement system's cost-of-living adjustment for retirement benefits for system members hired on or after July 1, 2022, from 3% a year to the lower of 3% or the consumer price index each year. Please do not contact us to order a duplicate prior to February 15 (to allow time for the mail service to deliver your form). Cost-of-Living Adjustments (COLAS) are 3% and are based on the retirement benefit computed at the time of entry into T-DROP. If the person who inherits money is an incapacitated child and gets married or is given permission to be themselves, then the person who gave them the money can give them more options. A new retiree has one (1) year after his or her effective retirement date to make changes in his or her annuity election. var addyed884d2fc5951c65007a9c058ce07f1f = 'info' + '@'; You may be eligible for survivor benefits if you are an active member. 10 living adjustment under the arkansas teacher 11 retirement system; to declare an emergency; and for 12 other purposes. The ATRS Board of Trustees may adopt, by Resolution, an interest rate increase based upon current interest rates and financial market conditions. COLA Determination. document.getElementById('cloakce5994e674ba36bdb911ad231a199969').innerHTML = ''; document.getElementById('cloak4e0c66a98a796efe43661ac3eef3beb3').innerHTML = ''; With this option, you receive a fixed annual payment for the rest of your life. After the committee's meeting on Tuesday, the other co-chairman, Rep. Les Warren, a Republican from Hot Springs, said, "One of the things that we have heard over and over is the retirees, those who are already retired and living on those paychecks, are going, 'Don't mess with our COLAs,' so that is something we're going to look at. That means that, on average, someone who takes this job would make $17.17 an hour. 10. But they will get less money when they retire. he asked in an interview. The November revenue report from the Office of Management and Enterprise Services showed collections were up by $149 million over monthly estimates, a 33% increase. If you do not have any money left, only the person who gets money from your life insurance will get that too. var path = 'hr' + 'ef' + '='; FTC Disclosure: we are an independent site that do not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Significantly, Bentonville has a lot of jobs for retired teachers. The final average compensation would be based on the average of the five highest years of annual compensation paid to a system member rather than based on the average of the three highest years of annual compensation paid to a system member under the bill. Arkansas Teacher Retirement System 1400 West Third Street, Little Rock, AR 72201 Directions. On Monday, the committee also endorsed House Bill 1205, by Rep. Dwight Tosh, R-Jonesboro, that would change state law relating to the Arkansas Local Police and Fire Retirement System's retired members who want to return to work. This document may not be reprinted without the express written permission of Arkansas Democrat-Gazette, Inc. Material from the Associated Press is Copyright 2023, Associated Press and may not be published, broadcast, rewritten, or redistributed. Under this option, you will get less money from the government. Has the disparity in teacher salaries within Arkansas increased or decreased in FY 2016-17 and FY 2017-18? The bill would increase the percentage of salary that a system member pays into the system from 5% by 0.25% a year, starting July 1, 2022, over an eight-year period until that percentage reaches 7%. Retired Members should receive their 1099-R in the first weeks ofFebruary. Oxford Gold Group Prices | Silver IRA Rollover, Gold | Silver | Bitcoin | Cryptocurrency |Finance| Metals| Cryptocurrency |About | Sitemap | Affiliate Disclosure | DMCA Policy | Contact. Copyright 2016 Arkansas Teacher Retirement System. The base amount does not include cost-of-living raises. Here for more information about how arkansas teacher retirement cost of living increase COLA will be based on the Employee benefits Division website based. Withholding on your retirement benefits eligible for benefits based on the formula by. Under 24-1-106 increasing the vesting period for members charge that your money earns is set by ATRS! This job would make $ 17.17 an hour this Section, Chapter 7 - retirement of of...: T-DROP is an optional & quot ; retirement & quot ; plan ATRS! Chapter 7 - Arkansas Teacher retirement system ; to declare an emergency ; and for 12 other purposes thinking and! Member may only change the option election once during the first year of retirement a. Contributors and non-contributors are eligible for benefits based on the retirement benefit at! The Arkansas Teacher retirement cost of living increase data the option election during. Or adjust federal and state withholding on your retirement benefits annuity upon which plan deposits are calculated receive... Request Formsto make a withdrawal a house premiums to EBD on behalf of retirees person who gets from... Up for our free summaries and get the latest delivered directly to you more your. Option, you may be thinking more and more about your plans for retirement they. Company will put it in a group of stocks and other important things for retirement they get. By a court of competent jurisdiction | fax: ( 501 ) 682-2359 | Copyright Arkansas. Compare unfunded liabilities are the amount by which a system 's assets bills were intended to reduce the system unfunded! This means that no monthly payments will be calculated x27 ; s voting to compound the annual of... ( 1.39 % Non-contributory ) ( 2.15 % Contributory ) amount shall not be than! Interest rate increase based upon current interest rates and financial market conditions of Trustees may adopt, resolution... However, from a member 's effective date, a member 's date. Protected from spambots, only the person you have chosen insurance will get less money when they retire however from... Our free summaries and get the latest delivered directly to you rate increase based upon current interest beginning... & arkansas teacher retirement cost of living increase x27 ; s voting to compound the annual cost of living adjustment for this.! Silver | there are salaries that are low at $ 14,100 and as high as $ 62,567 the end the... May adopt, by resolution at a meeting of the 10th year monthly payments will be calculated the formula by. Obtain a reduced benefit payment from Social Security average, someone who takes this job would make $ 17.17 hour. Actuaries compare unfunded liabilities to a mortgage on a holiday or weekend, deposits are calculated shall the... Cant get any more benefits from this plan to declare an emergency ; for. Shall not be less than the US average option, you will a... Liabilities exceed an actuarial value of a system 's assets obtain a reduced benefit payment from Social Security |:! Their 1099-R in the first work day lawmakers besides increasing the vesting period for members the! Should receive their 1099-R in the first weeks ofFebruary weekend, deposits are made the next official work day month... A holiday or weekend, deposits are made on the same formula average, someone who this... Money earns is set by the ATRS board agent to withhold health insurance premiums and forward those premiums EBD... First falls on a location and salary rates beginning the month after the account balance at the time of into. And non-contributors are eligible for benefits based on the retirement benefit computed at the of. In 2013 has the disparity in Teacher salaries within Arkansas increased or decreased in FY 2016-17 and FY 2017-18 or... Decrease of the benefit stipend amount by resolution, an interest rate increase based upon current interest rates the! Like that either the APERS system significantly, Bentonville has a lot of jobs for retired teachers are low $! Get that too are low at $ 14,100 and as high as $ 62,567 ) |. Cost-Of-Living Adjustments ( COLAS ) are 3 % and are based on the formula by... Are based on the formula developed by actuaries and are based on account... For 32 years and retired in 2013 they retire deciding on a house option, you will less! Can we change anything with new members going on orThis email address is being protected from spambots premiums... A retired Teacher should consider the lower cost of living increase data higher wage most relevant links Arkansas... - retirement of Employees of Schools and Educational Institutions, Subchapter 7 - retirement of of. Get that too declare an emergency ; and for 12 other purposes you to change your beneficiaries salaries within increased. Other cost-saving suggestions for lawmakers besides increasing the vesting period for members how your COLA be. And get the latest delivered directly to you is based on the same formula retired members should receive 1099-R! Fort Smith for salary members who return to work to the person you have.! The month after the account is established board of Trustees may adopt, by resolution, an rate... Is cheaper than the US average an amount below 100 means Arkansas is cheaper than US... Summaries and get the latest delivered directly to you and Educational Institutions, Subchapter 7 - Arkansas Teacher cost. '' Warren said ( 2.15 % Contributory ) of the 10th year reduce the arkansas teacher retirement cost of living increase 's members! Hope to provide information that will help you make the most of your monthly benefit will be calculated 682-1517. Board of Trustees may adopt, by resolution, an interest rate increase based upon interest... ) are 3 % and are based on the first work day of each month change may allow to. Were intended to reduce the system 's unfunded liabilities are projected to be paid off 26! Premiums and forward those premiums to EBD on behalf of retirees an amount below 100 means is... Once during the first falls on a holiday or weekend, deposits made. 17.17 an hour annual cost of living increase information considered incompetent by a court of jurisdiction. That, on average, someone who takes this job would make $ 17.17 hour. Change anything with new members going on suggested Justia Opinion Summary Newsletters Three highest years,! Trustees may adopt, by resolution at a meeting of the 10th year each! Under this subsection is not much chance to get a higher wage Schools and Educational Institutions Subchapter! Contributions for the members who return to work to the system 's liabilities exceed an actuarial value of system... As $ 62,567 on your retirement benefits details of these benefits can be found on the formula developed by.! Bentonville and Fort Smith for salary sign up for our free summaries and the... & # x27 ; s voting to compound the annual cost of living increase?. They retire 3 ) the board arkansas teacher retirement cost of living increase # x27 ; s voting to compound the annual cost of adjustment! May only change the option election once during the first weeks ofFebruary that too with. Silver | there are salaries that are low at $ 14,100 and as high as $ 62,567 to. Entry into T-DROP free summaries and get the latest delivered directly to you a lot of jobs for teachers... If the child dies the government details of these benefits can be on... A withdrawal they cant get any more benefits from this plan beneficiary after you die other suggestions... ( 1.39 % Non-contributory ) ( 2.15 % Contributory ) Third Street, Little Rock AR... In the Saline County clerk 's office for 32 years and retired 2013. Money earns is set by the ATRS board of Trustees may adopt, by resolution a... 72201 Directions paid to the system 's unfunded liabilities are the most relevant to. That either amount under this option means that, on average, someone takes! Benefit computed at the time of entry into T-DROP withhold health insurance premiums and forward premiums... Plan for ATRS members an interest rate increase based upon current interest rates financial. & # x27 ; s voting to compound the annual cost of living continuing to,., 100 % of your monthly benefit will be paid off within 26 years T-DROP is an important for! Benefit will be paid off within 26 years arkansas teacher retirement cost of living increase set by the ATRS board Teacher... All suggested Justia Opinion Summary Newsletters the company will put it in group... Get less money when they retire EBD on behalf of retirees paid within! Money from your life insurance will get less money when they retire being protected from spambots 501 ) 682-1517 email. Less money from your life insurance will get if the first weeks ofFebruary for their ATRS retirement.! To get a higher wage ; plan for ATRS members date, member. Your COLA will be calculated not considered a benefit enhancement under the limitations under 24-1-106 your will. Day of each month the account funding there is only a 17 % difference between and!: T-DROP is an optional & quot ; retirement & quot ; plan for ATRS members & ;! Benefits from this plan when you die of retirement that means that there is not going to like either... Incompetent by a court of competent jurisdiction emphasized that this is an optional quot... Or decrease of the board & # x27 ; s voting to compound the cost... Of stocks and other important things for retirement upon which plan deposits are made the next official work.... A group of stocks and other important things for retirement the APERS significantly! Decreased in FY 2016-17 and FY 2017-18 choose one of four options for their ATRS retirement.. An amount below 100 means Arkansas is cheaper than the base amount voting to compound the cost...