AR HB1154

Members of the Arkansas Teacher Retirement System may receive credit for federal service upon payment of the actuarial equivalent of the member's benefits and fulfillment of Board-prescribed requirements

Noncontributory members whose status changes to administrator or teacher under a contract of 185+ days become contributory members, with this provision applying from July 1, 2021 through June 30, 2025

Repeals the temporary waiver process that allowed employers until July 1, 2022 to request exemptions from electronic contribution reporting and payment requirements

Modifies Option B annuity distributions so that upon a retiree's death, one-half of the reduced annuity (rather than the full reduced annuity) is paid equally to dependent children when no spouse is designated as beneficiary

Expands PSHE plan eligibility to include non-vested ATRS members who meet requirements of a less restrictive plan adopted by their specific PSHE employer, effective July 1, 2025