Loading chat...
AR SB683
Bill
Status
4/13/2021
Primary Sponsor
Kim Hammer
Click for details
AI Summary
-
Amends Arkansas Code Title 11 to create Chapter 16 establishing the "Arkansas Plan Portal," a web-based portal managed by the Treasurer of State to connect small businesses with investment advisors.
-
Defines small business as an enterprise with fewer than 500 employees and less than $80 million in gross sales or receipts, including sole proprietorships.
-
Requires the portal to enable small businesses and investment advisors to submit information, enter basic criteria to generate matching lists, and facilitates email contact between matched parties.
-
Mandates the Treasurer of State to partner with the Department of Finance and Administration to create employer contact listings and submit bi-annual usage reports to three legislative committees.
-
Requires the Treasurer of State to create and implement the portal within 6 months and directs unmatched small businesses to state-sponsored retirement planning options after 45 days without advisor contact, with state liability protection included.
Legislative Description
To Provide For An Arkansas Plan Portal.
Last Action
Sine Die adjournment
10/15/2021