AR SB102

Amends Arkansas Code § 24-5-109 to change the Board of Trustees' role from "determine" to "propose" a set percentage rate for employer contributions to the Arkansas State Highway Employees' Retirement System based on actuarial recommendations.

Establishes that employer contribution rates must be approved by the State Highway Commission before implementation.

Sets employer contribution rate parameters between 12.9% and 14.9% of employee compensation, with a minimum floor of 12.9%.

Requires the system to use the most recently approved contribution rate until the State Highway Commission approves a new rate.

Maintains existing matching contribution requirements for prior and current service periods ranging from 4% to 12.9% based on service dates, and reduces the rate by 0.25% when annuity increases are funded from sources other than employee earnings.