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AR SB232

Bill

Official Source

Status

Passed

3/29/2021

Primary Sponsor

Greg Leding

Click for details

Origin

Senate

93rd General Assembly (2021 Regular)

AI Summary

  • Changes the mandatory contribution threshold for active members whose status changes from nonteacher to administrator or teacher from 181 days to 185 days of contract, effective July 1, 2021
  • Changes the mandatory contribution threshold for new members under contract with a covered employer from 181 days to 185 days, effective July 1, 2021
  • Members under contract for 184 days or less may make an irrevocable election to become contributory members, effective July 1, 2021
  • Declares an emergency and makes the act effective July 1, 2021, to align with the Arkansas Teacher Retirement System's fiscal year and ensure proper administration
  • Approved March 24, 2021

Legislative Description

Concerning Mandatory Contributory Member Designation For Employees Under The Arkansas Teacher Retirement System; And To Declare An Emergency.

Last Action

Notification that SB232 is now Act 443

3/29/2021

Committee Referrals

Public Retirement & Social Security Programs1/27/2021

Full Bill Text

No bill text available