SB 54 Summary

• Establishes a maximum of 96 regular employees for the Arkansas Teacher Retirement System for fiscal year 2018-2019, with positions ranging from ATRS Director to Maintenance Specialist across various grade levels.

• Authorizes up to 20 temporary or part-time "Extra Help" employees at pay rates not exceeding those in the Uniform Classification and Compensation Act.

• Appropriates $453,018,079 from the Teacher Retirement Fund for personal services and operating expenses, including $4,453,564 for regular salaries, $1,488,860 for personal services matching, and $344,000,000 for benefits.

• Appropriates $1,406,000,000 from cash funds for benefit payments to non-employee beneficiaries and refunds/reimbursements, plus $500,000 from the Teacher Retirement Fund for property management and maintenance.

• Effective July 1, 2018, with disbursements subject to compliance with State Procurement Law, General Accounting and Budgetary Procedures Law, and other applicable fiscal control laws.