AR SB291

Appropriates $10,000,000 to the Arkansas Public Employees Retirement System from the APERS Fund for development, acquisition, and implementation of a new pension administration system.

Permits the system to accept grants, donations, Federal funds, and use unobligated cash income to supplement State Treasury funds for project financing.

Restricts use of appropriated funds only to stated purposes and prohibits using agency maintenance and general operations funds for the appropriation.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and Department of Finance and Administration regulations in fund disbursement.

Declares an emergency clause making the act effective July 1, 2015, finding that timely implementation is essential to agency operations and approved February 25, 2015.