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Creating an Investment Opportunity for Early Childhood Workers Act of 2025 - Pass-Through Fiscal Agent

Act 587 of 2025 tasked the Board of Trustees of the Arkansas Teacher Retirement System (ATRS Board) with approving a non-profit pass-through fiscal agent (Fiscal Agent) that will facilitate the participation of eligible early childhood workers as members of the Arkansas Teacher Retirement System (ATRS or System).

The Fiscal Agent will be required to:

• Certify that during the past five (5) years there have been no actions, proceedings, or investigation pending against the Fiscal Agent that may reasonably be expected to have a material adverse impact on the Fiscal Agent or that has resulted in the Fiscal Agent or its agents, employees, subsidiaries or affiliates being convicted or found civilly liable for a breach of fiduciary duty or financial crimes.
• Execute a confidentiality agreement and a memorandum of understanding with the System.

The responsibilities of the Fiscal Agent will include, but may not be limited to:

• Implementing an application process for childcare providers to become covered employers of the System.
• Approving childcare provider applicants as eligible for participation as a covered employer of the System.
• Annually verifying that each participating childcare provider is licensed, accredited, and has an active subsidy or grant agreement with the Arkansas Department of Education.
• Timely submitting to the System reports that provide concise explanations of the Fiscal Agent’s determination that a new or current childcare provider is eligible for initial or continued participation in the System.
• Reviewing the participation of each childcare provider at least every (5) years from the effective start date of their participation in the System.
• Timely submitting to the System reports concerning early childhood workers who have elected to become members of ATRS and are employed by a participating childcare provider.
• Timely remitting employer and employee contributions received from participating childcare providers to the System.
• Managing and accounting for contributions received from participating childcare providers according to generally acceptable accounting standards.
• Upon request, timely submitting to the System financial records concerning the management and accounting of employee and employer contributions.
• Retaining and ensuring that childcare providers retain all records pertaining to their participation in accordance with any applicable law, rules, and polices.
• Retaining and ensuring that childcare providers retain all record pertaining to their early childhood worker employee’s membership in ATRS in accordance with any applicable the law, rules, and polices.
• Maintaining a confidentiality policy that complies with applicable law, rules, and policies.
• Other duties that are reasonably necessary to achieve the objectives of Act 587 of 2025.

Please see Act 587 and 24 CAR § 10-329 for more information.

If you are interested in having your organization serve as the Fiscal Agent, please mail a letter of interest to: ATTN: Legal Unit, Arkansas Teacher Retirement System, 1400 W. Third Street, Little Rock, Arkansas, 72201. The deadline for submitting a letter of interest is Friday, March 6, 2026.

Your letter of interest should address your organization’s experience with providing financial services and working with governmental entities, as well as your organization’s ability to perform the responsibilities listed above.

Along with your letter of interest, please submit:

• Articles of Incorporation issued by the Arkansas Secretary of State.
• IRS determination letter or certificate confirming non-profit status.
• Any relevant certifications and licenses, including but not limited to Certified Public Accountant, Certified Management Accountant, and Certified Government Financial Manager.
• Audited financial statements for your organization for the past three (3) years.
• Any other relevant documentation that you would like to be considered.

If you have any questions, please contact Mark White by phone at (501) 621-8853 or by e-mail at markw@artrs.gov.