AR SB184

Modifies Arkansas Code § 24-7-1307(c) to allow the Arkansas Teacher Retirement System board to set the Teacher Deferred Retirement Option Plan interest rate using either a fixed rate or variable rate formula, with both options requiring board resolution adoption prior to each fiscal year.

Allows the board to adopt an additional participation incentive rate during a fiscal year if investment returns justify providing such an incentive to plan members.

Amends Arkansas Code § 24-7-1307(e) to require the ten-year plus plan interest rate be determined by the board and adopted by board resolution prior to the beginning of the fiscal year in which it applies.

Declares an emergency to allow immediate implementation of the act, citing the need to maintain actuarial status and orderly management of benefits for system members.

Became effective upon Governor approval on April 6, 2017.