The following is a brief description of types of service that may be purchased (limited in certain categories): You must be an active (working) member of ATRS or a reciprocal retirement system to be eligible to purchase service.

Active military service in the U.S. Armed Forces (Military service credit may not be purchased until all eligibility requirements are met.)

• Certain out-of-state (up to 15 years) and overseas service (up to 10 years)
• Arkansas service cancelled by a refund of contributions
• Leave of absence from and after June 28, 1985, to obtain an advanced degree or to fulfill the requirements of a scholarship or grant
• Arkansas service not previously established
• Private school service (up to 15 years)
• Arkansas National Guard Service
• Noncontributory to Contributory Service
• Domestic Federal Service
• Federal Retirement Service

Out-of-state, overseas, private school, sabbatical leave or military service may not be used for vesting purposes in ATRS. Only Arkansas salaries will be used to compute final average salary. All service being purchased must be paid in full before retirement benefits can become effective.

An active member who has both Arkansas and out-of-state service in the same fiscal year may be eligible to purchase the out-of-state service required to obtain a year of service credit.

Service in private schools or colleges may be established with ATRS if rendered in a school or agency recognized by the Arkansas Department of Education.

Interest Rate Charged for Purchased Service

The rate charged for purchased service will not be less than the System's current actuarial interest rate assumption.

NOTICE

Arkansas Teacher Retirement Law makes no provision for loans from individual members' accounts.