AR HB1336

Creates new Subchapter 3 to Arkansas Code Title 24, Chapter 1, establishing forfeiture provisions for public retirement system beneficiaries who unlawfully kill a member or retirant.

Beneficiaries forfeit benefit payments if they are convicted, plead guilty/nolo contendere, are found liable in civil court, are acquitted by reason of insanity or mental incapacity, or are found incompetent to stand trial for unlawful killing of a member or retirant.

Retirement systems must suspend benefit payments upon receiving notice from a prosecuting attorney that charges are pending or if there is reasonable cause to believe charges will be filed; suspension continues until final adjudication or written confirmation that charges will not be filed.

Applies to eight retirement systems: Arkansas Teacher Retirement System, State Highway Employees' Retirement System, Public Employees' Retirement System, State Police Retirement System, Judicial Retirement System, alternate retirement plans for higher education and vocational-technical schools, Local Police and Fire Retirement System, and firemen's/policemen's relief and pension funds.

Beneficiaries must request a waiver of forfeiture from the board of trustees within 30 days of receiving notice of nonpayment; if no contingent beneficiary exists, member contributions are refunded to the member's or retirant's estate.