As used in this subchapter, unless the context otherwise requires:
(1) “Alternate retirement plan” means a retirement plan based on the purchase of contracts providing retirement and death benefits for the instructors and administrative staff of the technical institutes or postsecondary vocational-technical schools of the State of Arkansas and the staff of the Department of Career Education and which has been approved by the Career Education and Workforce Development Board;
(2) “Retirement system” means the Arkansas Teacher Retirement System;
(3) “School” means any technical institute or postsecondary vocational-technical school established pursuant to § 6-51-202 for the vocational training of students; and
(4) “Staff members” means both instructors and administrative staff of a technical institute or postsecondary vocational-technical school and the staff of the department who are eligible for membership in the retirement system.