Loading chat...

AR SB179

Bill

Status

Failed

5/1/2023

Primary Sponsor

Kim Hammer

Click for details

Origin

Senate

94th General Assembly (2023 Regular)

AI Summary

  • Beginning July 1, 2024, certified law enforcement officers retiring under specified provisions receive an enhanced straight life annuity of 0.25% of average compensation per year of credited service as a certified law enforcement officer.

  • Enhanced credit eligibility requires the officer to have satisfied Arkansas Commission on Law Enforcement Standards and Training requirements and been a certified law enforcement officer for each year of actual service claimed.

  • Credited service earned before July 1, 2024 is not eligible for the enhanced credit.

  • Members qualifying for the enhanced credit must contribute an additional 1.25% of their annual compensation for the years and fractions of years they qualify.

  • Payroll officials must provide proof of officer eligibility for the enhanced credit.

Legislative Description

To Create An Enhanced Multiplier For Certain Law Enforcement Members Of The Arkansas Public Employees' Retirement System.

Last Action

Sine Die adjournment

5/1/2023

Committee Referrals

Public Retirement & Social Security Programs1/26/2023

Full Bill Text

No bill text available