Power of Attorney

A power of attorney is a document that authorizes another person (your agent) to make decisions concerning your property – including your money – on your behalf (the principal). A power of attorney grants general authority for an agent over certain subjects. In this way, your agent can make decisions for you whether or not you are able to act for yourself. For retirement plans, these decisions can include rolling over benefits from one plan to another. A valid power of attorney document should:

Designate an agent
Contain your notarized signature
Contain an effective date, which is usually immediately unless otherwise specified
Authorize decision-making that is relevant to the retirement system

Frequently Asked Questions

What decisions are an agent not allowed to make?

A power of attorney usually grants general authority, and you must grant specific authority to an agent for the following decisions:

Create or change rights of survivorship
Create or change a beneficiary designation
Waive your rights to be a beneficiary or survivor
Create their interest in your benefit (unless the agent is related to you)

When does a power of attorney end?

A power of attorney continues until:

You die,
You revoke the power of attorney, or
Your agent resigns or is unable to act for you.

Guardianship:

APERS will honor requests and directions from a legally appointed guardian of the estate of a member.
Guardians are appointed only when a member is declared incapacitated by a court of law and legally unable to act on his or her own behalf.
Before APERS can recognize acts of a guardian, APERS must receive a file-stamped copy of the Letters of Guardianship issued under the seal of the court where the Guardianship action is filed.
Only the guardian of the “estate” of a member, the person with the power to manage financial matters (as opposed to the guardian of the “person,” who is responsible for the physical well-being of a member), may direct APERS.
During the time that a member is under active guardianship, APERS will only recognize acts of the guardian until provided proof that the member’s right to act on his or her own behalf has been restored.

Who can I contact if I have questions about powers of attorney?

We can assist you with questions about your benefits or about submitting a power of attorney that is valid to the retirement system. If you have other questions about powers of attorney or the authority you are granting to your agent, you should seek legal advice.

Submission:

You can submit a power of attorney in the following ways:

Method	Where
By postal mail	APERS 124 W Capitol Ave. Ste 400 Little Rock, AR 72202
In person	APERS 124 W Capitol Ave 4^th Floor Little Rock, AR 72202

Online Training Seminars

The online seminars offered through APERS are designed to educate members about their retirement benefits and help them make informed decisions. These seminars cover topics such as retirement planning, benefit options, and financial planning.

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Disclaimer on Benefits and Rights

Disclaimer Concerning Benefit Calculations, Benefit Projections, Counseling, and Certain Conditions Regarding APERS Benefits and Rights

The purpose of this Disclaimer is to summarize, in plain language, existing APERS policy concerning benefit calculations, benefit projections, counseling, and certain conditions regarding APERS benefits and rights. This Disclaimer does not reflect any alteration or amendment of existing APERS policy. This site includes general information about APERS programs and benefits and may not represent or include completely the law and/or rules that govern APERS. Arkansas law and/or administrative rules will supersede any information in conflict.

APERS strives to provide accurate information and assistance to plan participants who have questions regarding their APERS benefits. All information and calculations concerning benefits are based upon current law and policy, even though information often concerns future benefits. Likewise, laws and policies affecting plan participants are subject to change from time to time. The Arkansas General Assembly, U. S. Congress, federal agencies, and the APERS Board of Trustees may change how benefits are calculated and change other rights of plan participants. Any benefit projection or information provided by APERS is subject to future law or policy that is applicable to APERS.

APERS staff depends upon information provided by the plan participants and offers counseling and projects future benefit estimates based upon that information. Such estimates can vary materially from actual results. Calculations concerning benefits, as well as the information APERS provides during counseling, can be materially affected if the plan participant provides inaccurate or incomplete information, or omits material facts. Plan participants are presumed to have knowledge of all publicly available laws and policies that affect their APERS benefits and rights. APERS is under no duty to ensure that plan participants are specifically informed of a new law or policy unless required within the law or policy itself. If APERS attempts to notify plan participants who may be affected by a change of a law or policy, the failure to notify a specific plan participant does not create any right or cause of action for the plan participant.

APERS does not provide plan participants with specific recommendations regarding retirement options, tax advice, or legal advice. Each plan participant is solely responsible for determining whether benefit calculations, benefit projections, benefit estimates, and retirement plan options are suitable for the plan participant based upon his or her specific retirement objectives and personal and financial situation. APERS encourages plan participants to consult their own lawyer, accountant, tax professional, or other retirement adviser before making a decision that affects their benefits and rights regarding APERS.

Federal law and policy, state law and policy, APERS records and documents, and accurate data always govern the final determination of plan participant benefits and rights. An error by APERS does not create any common law rights on behalf of the plan participant. The rights of a plan participant are solely governed by the rights set forth in law and policy applicable to APERS.