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AR HB1315
Bill
Status
4/24/2019
Primary Sponsor
John Maddox
Click for details
AI Summary
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Amends Arkansas Code § 24-7-202(32)(C) to expand the definition of "salary" under the Arkansas Teacher Retirement System to include unused, earned, and accrued sick leave paid to members in a lump sum or series of payments.
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Declares an emergency clause citing the need to revise Arkansas Teacher Retirement System Act provisions to maintain compliance with sound public pension policy and for actuarial purposes.
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Establishes July 1, 2019 as the effective date to align implementation with the start of the Arkansas Teacher Retirement System's fiscal year (July 1 to June 30).
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States the updates are necessary to protect member benefits and maintain an orderly system of benefits for Arkansas Teacher Retirement System members.
Legislative Description
To Amend The Definition Of "salary" Under The Arkansas Teacher Retirement System; And To Declare An Emergency.
Last Action
Died on House Calendar at Sine Die Adjournment
4/24/2019