AR SB105

Reduces the marriage eligibility requirement for survivor annuity benefits under the Arkansas State Highway Employees' Retirement System from 2 years to 1 year immediately preceding the retirant's first annuity payment.

Survivor beneficiaries who are spouses must have been married to the retirant for at least 1 year (previously 2 years) to receive one-half of the reduced annuity upon the retirant's death.

Maintains the existing 2-year support requirement for non-spouse beneficiaries age 40 or older receiving more than half their support from the retirant.

Declares an emergency due to urgent need to revise the system to conform to sound public pension policy.

Becomes effective July 1, 2021.