HB1055 Summary

• Establishes maximum of 82 regular employees and 6 part-time/temporary employees for the Arkansas Public Employees Retirement System for fiscal year 2018-2019.

• Appropriates $142,040,148 for Public Employees Retirement System operations, including $3,492,518 for regular salaries, $1,221,512 for personal services matching, and $10,583,645 for professional fees.

• Appropriates $650,000,000 in cash benefits for Public Employees Retirement System beneficiaries payable by check or wired transfer.

• Appropriates $35,343,560 for State Police Retirement System operations and $35,000,000 in cash benefits for State Police retirees.

• Appropriates $10,663,389 for Judicial Retirement System operations and $21,000,000 in cash benefits, plus $21,000,000 for COMPASS Pension Administration System development and implementation.