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AR SB182

Bill

Official Source

Status

Introduced

1/24/2017

Primary Sponsor

Bill Sample

Click for details

Origin

Senate

91st General Assembly (2017 Regular)

AI Summary

  • Increases the membership threshold for local police pension and relief funds from fewer than five (5) members to fewer than nine (9) members for designating a fund as inactive
  • Changes the requirement for local boards of trustees from "may" to "shall no longer exist" when funds fall below the nine-member threshold
  • Applies the same membership threshold increase and mandatory trustee dissolution to local firemen's relief and pension funds
  • Requires employers to designate affected funds as inactive when membership falls below nine members

Legislative Description

To Amend The Law Concerning The Administration Of Small Funds By The Arkansas Local Police And Fire Retirement System.

Last Action

Sine Die adjournment

5/1/2017

Committee Referrals

Public Retirement & Social Security Programs1/24/2017

Full Bill Text

No bill text available