AR HB1121

Establishes maximum of 80 regular employees for the Arkansas Public Employees Retirement System (APERS) for fiscal year 2011-2012, with director salary at $167,400 and deputy director at $107,043.

Authorizes up to 6 temporary or part-time employees ("Extra Help") paid at rates not to exceed those in the Uniform Classification and Compensation Act.

Appropriates $126,955,859 to APERS operations from the APERS Fund, including $3,474,144 for regular salaries, $1,087,779 for personal services matching, and $5,668,963 for professional fees.

Appropriates $400,000,000 from cash funds for APERS benefit payments, $30,343,560 for State Police Retirement System operations, $9,163,389 for Judicial Retirement System operations, and associated cash appropriations for benefit payments to those systems.

Allows transfers not exceeding $29,279 from Judges Retirement Fund and $48,697 from State Police Retirement Fund to APERS Fund for administrative costs; exempts APERS from prior Legislative Council review for benefit payment method transfers; effective July 1, 2011.