Loading chat...
AR HB1111
Bill
Status
2/9/2023
Primary Sponsor
Les Warren
Click for details
AI Summary
-
Amends distribution age requirements for four Arkansas retirement plans covering police officers and firefighters by replacing fixed age 72 with an "applicable age" that varies by birth date.
-
For participants attaining age 72 after December 31, 2022, and age 73 before January 1, 2033, the applicable distribution age is 73.
-
For participants attaining age 74 after December 31, 2032, the applicable distribution age is 75.
-
Applies changes to the Local Police and Fire Deferred Retirement Option Plan, municipal firemen's and policemen's pension and relief funds, Arkansas Police Officers Deferred Retirement Option Plan, and Arkansas Fire Fighters Deferred Retirement Option Plan.
-
Fund distributions must occur by April 1 of the year following the calendar year in which a participant attains the applicable age.
Legislative Description
To Amend The Age In Which Members Of Certain Plans Under The Arkansas Local Police And Fire Retirement System And Local Police And Fire Pension And Relief Funds Begin To Receive Fund Distributions.
Last Action
Notification that HB1111 is now Act 44
2/9/2023