AR HB1042

Establishes a maximum of 82 regular employees for the Arkansas Public Employees Retirement System (APERS) for fiscal year 2014-2015, with positions ranging from Director ($174,812) to Administrative Specialist II (Grade C109)

Authorizes up to six temporary or part-time "Extra Help" employees at rates not to exceed those provided in the Uniform Classification and Compensation Act

Appropriates $132,222,090 from the APERS Fund for personal services and operating expenses, including $3,697,010 for regular salaries, $1,216,462 for personal services matching, and $10,583,645 for professional fees

Appropriates $450,000,000 in cash funds for benefit payments to APERS beneficiaries and $21,000,000 for development and implementation of a new pension administration system

Appropriates funds for State Police Retirement System ($30,343,560 operations plus $30,000,000 benefits) and Judicial Retirement System ($10,163,389 operations plus $20,000,000 benefits), with authority for inter-fund transfers to cover administrative costs