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AR HB1198
Bill
Status
5/17/2013
Primary Sponsor
David Kizzia
Click for details
AI Summary
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Board of Trustees of the Arkansas Teacher Retirement System authorized to establish a Tier II benefit plan for system members.
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Tier II benefit plan applies only to members initially hired on or after July 1, 2015.
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Tier II benefit plan members receive same benefits and rights as other members except for cost-of-living adjustments.
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Board may establish and adjust a simple cost-of-living rate adjustment for Tier II members by resolution, not to exceed 3% annually.
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Cost-of-living adjustment may be a set rate adjusted periodically, tied to an inflation index, or applied to future fiscal years.
Legislative Description
To Authorize The Board Of Trustees Of The Arkansas Teacher Retirement System To Create A Tier Ii Benefit Program.
Last Action
Died in House Committee at Sine Die adjournment.
5/17/2013