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AR SB128
Bill
Status
3/14/2023
Primary Sponsor
Jimmy Hickey
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AI Summary
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Increases the employer contribution rate for the State Police Retirement System from 22% to 26% under Arkansas Code § 24-2-701(c)(2)
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Amends exceptions to annuity protection to allow the State of Arkansas to offset benefits for claims arising from embezzlement or fraud by a member, retirant, or beneficiary
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Allows courts of competent jurisdiction to order a retirant's monthly benefit paid into court registry if the retirant willfully refuses to support minor dependent children in violation of a court support order
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Declares an emergency effective date of July 1, 2023 to align with the State Police Retirement System's fiscal year beginning and ensure proper actuarial administration of the system
Legislative Description
To Correct The Employer Contribution Rate And The Exceptions To The Prohibition Against Subjection Of Annuity Rights To Legal Processes Under The State Police Retirement System; And To Declare An Emergency.
Last Action
Notification that SB128 is now Act 249
3/14/2023