§ 24-7-710 - Survivor annuity benefits.
24-7-710. Survivor annuity benefits.
(a) If an active member with five (5) or more years of actual and reciprocal service, including credited service for the year immediately preceding his or her death, dies before the receipt of retirement benefits from the Arkansas Teacher Retirement System, then the benefits provided in this section shall be paid to eligible survivors.
(b) (1) (A) The member's surviving spouse, who was married to the member for at least the two (2) years immediately preceding the member's death, shall receive an annuity computed in the same manner in all respects as if the member had retired on the date of the member's death and elected Option A under 24-7-706 to provide one hundred percent (100%) survivor annuity benefits for his or her spouse.
(B) The surviving spouse's benefits shall begin in the month following the month of the member's death if at the time of the member's death the member had:
(i) Accumulated twenty-five (25) years or more of credited service and qualified as eligible to receive a retirement annuity under 24-7-701 and 24-7-702; or
(ii) Reached sixty (60) years of age and qualified as eligible to receive a retirement annuity under 24-7-707.
(C) If the surviving spouse is not eligible to receive benefits under subdivision (b)(1)(B) of this section, the surviving spouse's benefits shall begin in the month following the date the member would have been eligible to receive benefits had the member survived.
(D) If the surviving spouse is eligible to receive the survivor annuity and the member had not reached sixty (60) years of age at the time of the member's death, the surviving spouse may elect to defer receipt of the annuity until the member would have reached sixty (60) years of age, and the surviving spouse's benefits shall not be reduced under the early retirement provisions of 24-7-702.
(E) The surviving spouse's benefits under this section are payable for the surviving spouse's lifetime.
(2) If at the time of the member's death there are no dependent children and the surviving spouse who is eligible to receive the annuity under this subsection files with the system a written waiver of his or her right to the spousal annuity, a lump-sum distribution of the deceased member's accumulated contributions plus regular interest may be made to the surviving spouse.
(c) (1) (A) (i) A surviving dependent child of the member shall receive an annuity in an amount equal to twenty percent (20%) of the member's highest salary year received in covered employment.
(ii) If the member's highest salary year occurs in the year that the member died, the system shall calculate the surviving dependent child's annuity on the basis of a full year of salary by the member.
(B) If a member has more than three (3) surviving dependent children, the aggregate amount of the surviving dependent children's annuity shall not exceed sixty percent (60%) of the member's highest salary year and shall be divided equally among the surviving dependent children.
(2) (A) A child shall be considered a dependent child until he or she reaches eighteen (18) years of age.
(B) (i) However, eligibility for the dependent child annuity shall continue after the child reaches eighteen (18) years of age if the child continues consecutively as a full-time student at an accredited secondary school, college, or university, but in any event, not beyond twenty-three (23) years of age.
(ii) Any child who has been deemed physically or mentally incapacitated by a court of competent jurisdiction is eligible to receive a dependent child annuity for as long as the incapacity exists, regardless of age.
(3) When a dependent child ceases to be a dependent or dies, his or her share of the annuity shall terminate.
(d) For the purposes of 24-7-709 related to the disposition of residue, any amounts received from the member's deposit account in the form of a survivor annuity under this section shall be considered annuity payments received by the member or his or her designated beneficiary and shall offset any disposition of residue payable under 24-7-709.
(e) Annuities payable under this section shall begin the first day of the calendar month following the date the survivor annuity is payable as provided in this section.
(f) If the member had previously received benefits from the system and has not repaid in full all amounts payable by him or her to the system, the annuity amounts otherwise provided by this section shall be withheld until the total amount owed to the system is repaid.