HB 1017 Summary

• Establishes maximum of 82 regular employees and 6 temporary/part-time employees for the Arkansas Public Employees Retirement System for fiscal year 2020-2021.

• Appropriates $141,677,532 from the Arkansas Public Employees' Retirement System Fund for personal services, operating expenses, benefits, and data processing.

• Appropriates $825,000,000 in cash funds for benefit payments and refunds/reimbursements to retirees.

• Appropriates $30,285,950 from the State Police Retirement Fund and $8,652,879 from the Judges Retirement Fund for operating expenses and benefits administration.

• Authorizes fund transfers up to $61,852 from Judges Retirement Fund, $114,008 from State Police Retirement Fund, and $50,000 each from State Police and Judicial Retirement Funds to support pension administration system implementation.