AR SB78

Establishes a maximum of 101 regular employees for the Arkansas Teacher Retirement System for fiscal year 2016-2017, with the ATRS Director earning $176,560 and other positions ranging from Grade C112 to N908 salary classifications.

Authorizes up to 16 temporary or part-time employees ("Extra Help") to be paid at rates not exceeding those in the Uniform Classification and Compensation Act.

Appropriates $453,598,953 from the Teacher Retirement Fund for personal services and operating expenses, including $4,483,589 for regular salaries, $344,000,000 for benefits, and $75,000,000 for a discount buyout plan.

Appropriates $996,000,000 from cash funds for benefit payments to beneficiaries ($990,000,000) and refunds/reimbursements ($6,000,000), plus an additional $500,000 for property management.

Declares an emergency effective July 1, 2016, necessary for the immediate operation of the agency and provision of essential governmental programs.