(b) As used in this subpart:

1. (1) “Actuary” means the actuary selected by the Board of Trustees of the Arkansas Teacher Retirement System from time to time;
2. (2) “Administrator” means the Arkansas Teacher Retirement System and includes any person with whom the Arkansas Teacher Retirement System contracts to provide services to the plan;
3. (3) “Beneficiary” means an individual receiving joint and survivor benefits from the Arkansas Teacher Retirement System;
4. (4) “Benefit restoration” means the benefit determined in accordance with 24 CAR § 10-1204;
5. (5) “Benefit Restoration Trust Fund” or “trust fund” means the Benefit Restoration Trust Fund established pursuant to 24 CAR § 10-1206 which fund constitutes a valid trust under the laws of this state;
6. (6) “Employer” means any public school, other educational agency, or other eligible employer participating in the Arkansas Teacher Retirement System as provided under Arkansas Code § 24-7-202;
7. (7) “Participant” means a retiree or beneficiary who is entitled to benefits under this plan;
8. (8) “Plan” means the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust established pursuant to Arkansas Code § 24-7-305;
9. (9) “Plan year” means the twelve-calendar month period ending on December 31 of each year;
10. (10) “Retiree” means a member of the Arkansas Teacher Retirement System who is receiving a retirement benefit from the Arkansas Teacher Retirement System;
11. (11) “Retirement benefit” means the amount of retirement income payable to a retiree, or the benefit payable to a beneficiary, without regard to any limitations on that retirement income or benefit under 26 U.S.C. § 415(b); and
12. (12) “Retirement fund” means the trust fund established pursuant to Acts 1937, No. 266, approved March 17, 1937.