24 CAR § 10-605. Age and service retirement — Application

(a) A copy of the age and service retirement application may be downloaded from the Arkansas Teacher Retirement System’s website or requested from the system. (b)(1) If eligible, an active or inactive member who attains age sixty (60) and has five (5) or more years of actual and reciprocal service credit may voluntarily retire by filing a written application with the system. (2) If eligible, an active or inactive member who has not reached age sixty (60) and has twenty-five (25) or more years of actual and reciprocal service credit, including purchased or free credited service, may voluntarily retire by filing a written application with the system. (c)(1) In order for a retirement application to be timely filed, there is a three-month window to apply for retirement benefits. (2) An active member who is currently employed by a covered employer shall file his or her retirement application: (A) No sooner than four (4) months before the active member’s effective retirement date; and (B) No later than one (1) month before the active member’s effective retirement date. (d) The system’s procedure for handling a retirement application received by the system from a member shall include the following: (1) If a retirement application is received by the system before the three-month window begins for the member's anticipated effective retirement date, the system shall: (A) Consider the retirement application untimely; (B) Reject the retirement application; (C) Notify the member of one (1) or more dates on which the member may timely file a retirement application; and (D) Notify the member of the procedure to use in order to timely file a retirement application; and (2) If a retirement application is received after the three-month window ends for the member's anticipated effective retirement date, the system shall: (A) Consider the retirement application untimely; and (B) Provide the member with a new effective retirement date that begins on the first day of the month following the member’s previously anticipated effective retirement date. (e) Subsections (c) and (d) of this section do not apply to a disability retirement application or an application for survivor benefits. (f) The following table shows examples of the windows for filing a retirement application: EXAMPLE OF RETIREMENT FILING DATES Effective Date of Retirement Retirement Application Must be Filed In: Last Date of Employment First Retirement Check January 1 September, October or November December 31 End of January February 1 October, November or December January 31 End of February March 1 November, December or January Feb 28/29 (Leap year) End of March April 1 December, January or February March 31 End of April May 1 January, February or March April 30 End of May June 1 February, March or April May 31 End of June July 1 March, April or May June 30 End of July August 1 April, May or June July 31 End of August September 1 May, June or July August 31 End of September October 1 June, July or August September 30 End of October November 1 July, August or September October 31 End of November December 1 August, September or October November 30 End of December (g) The following table is the only window for filing a Teacher Deferred Retirement Option Participation application: Effective Date of Retirement Retirement Application Must be Filed In: July 1 March, April or May