HB1135 Summary

• Eligible survivors of Arkansas Teacher Retirement System members who die before retirement may receive monthly benefits beginning the month after the member's death if the survivor application is filed within 3 months; otherwise benefits begin the month the application is filed.

• Surviving spouses who are immediately eligible (member had 25+ years of credited service and qualified for retirement, or was age 60+ and qualified for retirement) receive benefits starting the month after the member's death if application is filed within 3 months; otherwise benefits begin when the application is filed.

• Surviving spouses not immediately eligible receive benefits starting the later of either the month the member would have been eligible for retirement benefits or the month the surviving spouse's benefit application is filed with the system.

• Repeals the existing requirement that survivor annuities begin on the first day of the calendar month following the date the survivor annuity becomes payable.

• Declares an emergency and makes the act effective July 1, 2013, citing the need to align benefit administration with the Arkansas Teacher Retirement System's July 1 to June 30 fiscal year for actuarial purposes.