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AR SB203
Bill
Status
3/16/2017
Primary Sponsor
Bill Sample
Click for details
AI Summary
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Adds Arkansas Code 24-7-104 to prohibit employers from requiring employees to file a retirement application with the Arkansas Teacher Retirement System as a condition of employment termination incentive offers.
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Establishes that early retirement incentive offers to terminate employment cannot include mandatory retirement filing requirements.
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Declares an emergency due to the need for Arkansas Teacher Retirement System provisions to be revised and updated to conform with sound public pension policy and actuarial requirements.
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Bill becomes effective upon Governor's approval, expiration of the veto period without action, or override of a gubernatorial veto.
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Approved by the Governor on 03/15/2017.
Legislative Description
To Prohibit The Inclusion Of Terms Requiring A Member's Retirement From The Arkansas Teacher Retirement System In Contract Buyout Plans; And To Declare An Emergency.
Last Action
Notification that SB203 is now Act 503
3/16/2017