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AR HB1243
Bill
Status
5/1/2023
Primary Sponsor
Deann Vaught
Click for details
AI Summary
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Reduces required years of credited service for retirement eligibility for police officers, firefighters, public safety members, and sheriffs across four state retirement systems on a three-year phased schedule: 27 years (2024-2025), 26 years (2025-2026), and 25 years (2026 onward)
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Amends the Arkansas Public Employees' Retirement System to allow public safety employees and sheriffs to retire at any age upon completing the specified years of credited service instead of requiring age 55 or higher
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Adds definition of "police officer" for the Arkansas State Highway Employees' Retirement System and establishes retirement eligibility for highway patrol officers based on the same phased service requirements as other law enforcement personnel
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Modifies the State Police Retirement System to allow Tier I and Tier II members to retire regardless of age upon completing the phased service requirements
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Updates the Arkansas Local Police and Fire Retirement System deferred retirement option plan eligibility and contribution rates based on the new phased service credit requirements
Legislative Description
To Amend Retirement Eligibility Requirements Under Various Public Retirement Systems Of The State Of Arkansas For Certain Police Officers, Firefighters, Public Safety Members, And Sheriffs.
Last Action
Died in House Committee at Sine Die Adjournment
5/1/2023