AR SB50

Adds definitions for "Arkansas Teacher Retirement System" and "de minimis amount" (money too small to account for reasonably) to Arkansas Code § 24-7-202.

Allows the board to set a de minimis amount of $25.00 or less for the system's obligation to distribute or collect payments, penalties, interest, funds, or moneys under Arkansas Code § 24-7-305(b).

Removes the "not later than April 1" deadline for the board's annual financial report to employers, requiring only that reports be rendered showing the system's financial condition as of the preceding June 30.

Makes technical corrections to board membership requirements, including clarifying eligibility for employee candidates and defining active member trustee ineligibility requirements.

Repeals Arkansas Code § 24-7-410(d) concerning interest credit procedures and makes various conforming amendments to ensure Internal Revenue Code compliance.

Declares an emergency effective immediately upon gubernatorial approval.