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AR SB78
Bill
Status
2/27/2023
Primary Sponsor
Jimmy Hickey
Click for details
AI Summary
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Judges or justices who forfeit retirement benefits under Arkansas Code § 24-8-215(c) are no longer required to continue paying contributions to the Arkansas Judicial Retirement System.
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Judges or justices who forfeit retirement benefits are entitled to receive the principal balance of their contributions to the system, but not any accumulated interest.
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The same provisions apply to the Tier Two Actual Judicial Service Benefit Plan, with judges forfeiting benefits under § 24-8-710(b) exempted from further contributions.
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Judges or justices who cease membership prior to qualifying for retirement benefits remain entitled to a refund of all contributions paid.
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The act becomes effective July 1, 2023, with emergency declaration to allow implementation at the beginning of the fiscal year for proper system administration.
Legislative Description
To Remove The Requirement For Member Contributions To The Arkansas Judicial Retirement System In The Event That A Judge Or Justice Has Forfeited His Or Her Rights To Retirement Benefits From The System; And To Declare An Emergency.
Last Action
Notification that SB78 is now Act 134
2/27/2023