Arkansas Code Title 24. Retirement and Pensions § 24-7-210. Federal taxation

(a) The Executive Director of the Arkansas Teacher Retirement System is authorized and directed to operate the Arkansas Teacher Retirement System and interpret any provisions of § 24-7-101 et seq. consistent with the requirements under the Internal Revenue Code  1 and applicable United States Department of the Treasury regulations necessary to permit the system to be operated as a “qualified trust” under Internal Revenue Code, 26 U.S.C. § 401(a).

(b) Notwithstanding any language to the contrary set forth in this chapter, the Board of Trustees of the Arkansas Teacher Retirement System shall have the authority to promulgate rules consistent with these directions.

(c) Any rule promulgated under this section that is found to be in conflict with an applicable provision of the code is null and void.