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AR SB244

Bill

Official Source

Status

Failed

4/25/2019

Primary Sponsor

Bart Hester

Click for details

Origin

Senate

92nd General Assembly (2019 Regular)

AI Summary

  • Before July 1, 2020, member contributions to the Arkansas Public Employees' Retirement System shall remain at 5% of annual compensation
  • Effective July 1, 2020, member contributions shall increase by 0.25% each fiscal year until reaching 6% of annual compensation
  • Member contributions shall be placed in the member's deposit account as provided in Arkansas Code § 24-4-401
  • Interest shall be paid on accumulated member contributions at the rate of 4% per annum
  • "Compensation" is defined as specified in Arkansas Code § 24-4-101

Legislative Description

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

Last Action

Sine Die adjournment

4/25/2019

Committee Referrals

Public Retirement & Social Security Programs2/4/2019

Full Bill Text

No bill text available