AR SB48

Establishes a maximum of 87 regular full-time employees for the Arkansas Teacher Retirement System for fiscal year 2024-2025, with positions ranging from Director (Grade SE04) to Maintenance Specialist (Grade GS03)

Authorizes a maximum of 20 part-time or temporary "Extra Help" employees at rates not to exceed those provided in the Uniform Classification and Compensation Act

Appropriates $244,061,994 from the Teacher Retirement Fund for personal services and operating expenses, including $5,125,743 for regular salaries, $200,000,000 for benefits, and $10,000,000 for a discount buyout plan

Appropriates $1,706,000,000 in cash funds for benefit payments to non-employees and refunds, payable by check or wire transfer

Makes the act effective July 1, 2024 with an emergency clause due to constitutional restrictions on multi-year appropriations