HB 1166 Summary

• Establishes 82 regular employee positions for the Arkansas Public Employees Retirement System (APERS) for fiscal year 2015-2016, with salaries ranging from $32,249 to $176,560 based on classification grades.

• Appropriates $142,467,412 from the APERS Fund for personal services, operating expenses, professional fees, benefits, and refunds/reimbursements for APERS operations.

• Appropriates $500,000,000 in cash funds for benefit payments to public employees retirement system beneficiaries via check or wire transfer.

• Appropriates funds for State Police Retirement System ($35,343,560 operations + $35,000,000 cash benefits), Judicial Retirement System ($10,663,389 operations + $21,000,000 cash benefits), and $21,000,000 for the COMPASS Pension Administration System project.

• Authorizes a temporary pool of up to 10 Grade C117 positions at $32,249 base pay for the 2015-2016 and 2016-2017 fiscal years to address staffing needs for pension system implementation and accounting standards compliance, with quarterly reporting to the Legislative Council.