Teacher Retirement System Needs $32M More

December 11, 2002
Posted at: 12:15 p.m. CDT

LITTLE ROCK, Ark. -- Trustees for the state's teacher retirement system are divided on whether to ask school districts to pay more into the system.

An actuary firm recommended last month that the Arkansas Teacher Retirement System seek as much as $32 million per year more in contributions from districts. The firm said the system could increase school district contributions from 12 percent of each employee's pay to 13.8 percent.

Another option would be to assess districts 13 percent and reduce teacher pay raises. Either move requires legislative approval. But some trustees disagree with asking the Legislature to require school districts to pay more to the system.

The system has 17,068 members in all.

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