AR HB1143

Extends eligibility for disability benefits, survivor benefits, and lump-sum death benefits under the Arkansas Teacher Retirement System to include one additional fiscal year after a member's last year of actual service, provided the member obtains at least one-fourth year of service credit during that period.

Defines service credit used in calculating benefits to include days of service, including paid sick leave covered by the employer.

Authorizes the Board of Trustees of the Arkansas Teacher Retirement System to promulgate rules necessary to administer annuity options and institute fair procedures for members, including requirements for designating beneficiaries and spousal elections.

Declares an emergency, stating that the policy of calculating benefits for an additional fiscal year following the last year of actual service needs to be codified into law to maintain an orderly system of benefits.

Effective date: July 1, 2011.