AR HB1215

Requires all Arkansas state-supported retirement systems and public employee retirement systems of any political subdivision to annually value each system's assets and incomes.

Mandates that actuarial assumptions and methods for annual valuations be set by each system's board based on recommendations from the board's actuary and agreed upon by an actuary employed by the Joint Committee on Public Retirement and Social Security Programs or the General Assembly.

Requires each retirement system to publish an additional valuation calculation of unfunded accrued liability using a four percent (4%) expected future rate of return on investments, in addition to the standard actuarial valuation.

Requires both valuations to be published in the same valuation report on the same page or following page of the system's annual valuation report.

Establishes a dispute resolution process where if the board's actuary and the General Assembly's actuary disagree on actuarial assumptions and methods, a mutually selected third actuary shall determine the appropriate assumptions and methods to be used.