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AR HB1211
Bill
Status
2/20/2025
Primary Sponsor
Les Warren
Click for details
AI Summary
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Expands the definition of "recurring remuneration" for APERS retirement benefit calculations to include lump-sum payments under § 21-5-227 and bonus payments under § 21-5-228
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Caps bonuses and lump-sum payments counted as compensation in a member's final year of employment at the lesser of 5% of current salary or the amount received the previous year
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Repeals two standalone code sections (§ 24-4-110 and § 24-4-111) and consolidates their provisions into § 24-4-520(d) regarding termination requirements
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Clarifies that retirants cannot receive annuity payments until all employment termination requirements are satisfied, and that failure to meet termination requirements does not revoke a member's retirement election
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Approved February 20, 2025 as Act 131 of the Regular Session
Legislative Description
To Make Technical Corrections And Clarify Language For The Proper Administration Of Benefits Under The Arkansas Public Employees’ Retirement System.
Last Action
Notification that HB1211 is now Act 131
2/20/2025