(a)

1. (1) All retirees and beneficiaries of the Arkansas Teacher Retirement System are eligible to participate in the Arkansas Teacher Retirement System Benefit Restoration Plan and Trust if their retirement benefits from the system for a plan year are or have been since January 1, 2013, limited by 26 U.S.C. § 415(b).
2. (2) The Board of Trustees of the Arkansas Teacher Retirement System determine for each plan year which retirees and beneficiaries are eligible to participate in the plan.

(b)

1. (1) Participation in the plan begins each plan year after a retiree or beneficiary has the benefit restoration in that plan year.

2. (2) Participation in the plan ends:

   1. (A) For any portion of a plan year in which the retirement benefit of a retiree or beneficiary is not limited by 26 U.S.C. § 415(b); or
   2. (B) When all benefit obligations under the plan to the retiree or beneficiary have been satisfied.