AR SB50

Establishes a maximum of 87 regular employees for the Arkansas Teacher Retirement System for fiscal year 2021-2022, with positions ranging from ATRS Director to Maintenance Specialist across various salary grades.

Authorizes up to 20 part-time or temporary employees ("Extra Help") at rates of pay not exceeding those provided in the Uniform Classification and Compensation Act.

Appropriates $243,355,794 from the Teacher Retirement Fund for personal services and operating expenses, including $4,715,001 for regular salaries, $200,000,000 for benefits, and $10,000,000 for a discount buyout plan.

Appropriates $1,656,000,000 from cash funds for benefit payments to non-employee beneficiaries ($1,650,000,000) and refunds/reimbursements ($6,000,000).

Takes effect July 1, 2021 as an emergency measure, with all disbursements subject to state procurement, accounting, budgetary procedures, and other fiscal control laws.