AR SB129

Amends Arkansas Code § 24-6-217 to clarify survivor pension benefits for spouses and dependent children of deceased State Police Retirement System members, with specific dollar minimums ($1,800 or 75% of retirement benefit for spouses with dependent children; $1,200 or 50% without dependent children).

Modifies Arkansas Code § 24-6-408 to update annuity option elections, allowing members to designate beneficiaries in writing before annuity starting date under Options A60, A120, B50, and B75, with provisions for canceling beneficiary designations upon spouse death, divorce, or dependent child death.

Updates Arkansas Code § 24-6-411 regarding death benefits before retirement, clarifying spousal annuity calculations, dependent child benefits (greater of 10% of compensation or $150 monthly), and dependent parent benefits with specific service and dependency requirements.

Extends age limits for dependent children receiving survivor benefits from age 18 to age 23 if enrolled full-time in accredited secondary or postsecondary education, or if deemed physically or mentally incompetent by a court.

Declares an emergency effective date of July 1, 2023 to align with the State Police Retirement System fiscal year and maintain proper administration of survivor benefit procedures.