1. (a) The Board of Trustees of the Arkansas Teacher Retirement System by resolution shall establish and approve the category of members who are eligible to participate in the CASH Program, the CASH Program offering period, and the formula to be used during a CASH Program offering period.

2. (b)

   1. (1) In accordance with Arkansas Code § 24-7-505, this subpart, and applicable resolutions of the board, the Arkansas Teacher Retirement System shall determine if a member is qualified to receive a CASH Program payment.
   2. (2) Only qualifying members may receive a CASH Program payment.
   3. (3) Any erroneous delivery of a CASH Program election form by the system to a member shall not establish the member’s right to a CASH Program payment.

Codification Notes: “CASH” means cash and savings help.