24 CAR § 10-710. Teacher Deferred Retirement Option Plan — Distribution election

A member may cancel his or her original T-DROP distribution election and elect another distribution option if the member: (1) Did not elect to receive all or a part of his or her T-DROP account balance rolled over into a qualified retirement plan; (2) Has not previously changed his or her election; (3) Cancels his or her election before the end of the second full calendar month immediately following his or her effective retirement date; (4) Files a new distribution election form with the Arkansas Teacher Retirement System; and (5) Repays the system any amount that he or she is no longer entitled to have received as a result of changing his or her election.