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AR HB1359

Bill

Official Source

Status

Failed

4/24/2019

Primary Sponsor

Kenneth Bragg

Click for details

Origin

House of Representatives

92nd General Assembly (2019 Regular)

AI Summary

  • Member contributions to the Arkansas Public Employees' Retirement System remain at 5% of annual compensation before July 1, 2020.

  • Beginning July 1, 2020, member contributions increase by 0.25% each fiscal year until reaching 6% of annual compensation.

  • Interest paid on accumulated member contributions reduces from 4% per annum to 2% per annum.

  • Member contributions continue to be placed in deposit accounts as provided under Arkansas Code § 24-4-401.

Legislative Description

Concerning Member Contributions Under The Arkansas Public Employees' Retirement System.

Last Action

Died on House Calendar at Sine Die Adjournment

4/24/2019

Committee Referrals

Public Retirement & Social Security Programs3/6/2019

Full Bill Text

No bill text available