AR SB194

Requires active members to have five or more years of actual and reciprocal service to qualify for survivor benefits, with applications filed within three months for immediately eligible survivors.

Establishes a six-month deadline for survivors to complete the application process after filing, or the application becomes void unless an extension is granted by the system.

Changes surviving dependent child annuity benefits from a flat twenty percent (20%) of highest salary to one percent (1%) per quarter of credited service, capped at twenty quarters for a maximum of $20,000.

Limits aggregate surviving dependent children benefits to the lesser of sixty percent (60%) of the member's highest salary year or $60,000 per year, divided equally among multiple children.

Declares an emergency, making the act effective upon gubernatorial approval, expiration of the veto period, or veto override by the legislature.