Law sets spending limits for Arkansas teacher retirement system

The Arkansas Teacher Retirement System may spend up to $1.7 billion on benefits and $6 million on refunds and reimbursements from cash funds. The money covers payments to retirement system beneficiaries by check or wire transfer. Spending cannot exceed the authorized amounts or the money available by law. The system must follow applicable state purchasing, budgeting, and financial rules. This authorization applies from July 1, 2026, through June 30, 2027.

The Arkansas Teacher Retirement System may spend up to $218,179,319 from the Teacher Retirement Fund for payments, staff, and operating costs. This authorization covers the system's benefit payments and operating expenses, including salaries and computer services. The limits include $180 million for benefits, $15 million for refunds and reimbursements, $9 million for the discount buyout plan, and $3.5 million for investment consultants. Spending cannot exceed the authorized amounts or available money and must follow applicable state financial rules. This authorization applies from July 1, 2026, through June 30, 2027.

The Arkansas Teacher Retirement System may employ up to 87 regular employees and 20 temporary or part-time employees. These limits cover retirement system staff who handle investments, member services, and agency operations. Regular positions have listed job and salary-grade limits. Temporary or part-time staff may be hired when needed, paid from authorized money, and paid no more than the applicable state or act pay limit. The staffing limits apply to the 2026–2027 fiscal year.