As used in this subchapter:
(1) “Board” means the Board of Trustees of the Arkansas Judicial Retirement System;
(2) “Consumer price index” means the Consumer Price Index for all Urban Consumers, as determined by the United States Department of Labor, in effect on January 1, 1999, except that if the consumer price index is subsequently reconstructed in a manner materially changing its character, the board, after receiving the advice of the actuary, shall change the application of the consumer price index so that, as far as practicable, the intent of the use of the consumer price index shall be continued;
(3) “Executive director” means the Executive Director of the Arkansas Public Employees' Retirement System; and
(4) “System” means the Arkansas Judicial Retirement System.