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AR HB1347
Bill
Status
3/20/2025
Primary Sponsor
Les Warren
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AI Summary
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Members of the Arkansas Teacher Retirement System may elect to have annuity or benefit payments directed to a special needs trust established under federal law (42 U.S.C. § 1396p(d)(4)(A) or (C)) for the benefit of a designated beneficiary
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Parents or legal guardians of eligible beneficiaries may also elect to have payments made to a qualifying special needs trust on behalf of the beneficiary
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If no special needs trust exists or cannot be identified, the system must pay benefits directly to the entitled person, but may later redirect payments to a trust once established
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The Arkansas Teacher Retirement System is not required to establish trusts, act as trustee, or verify trust compliance with state or federal law
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Effective date: July 1, 2026
Legislative Description
To Allow The Arkansas Teacher Retirement System To Pay An Annuity Or Benefit Owed To A Person To A Special Needs Trust Established For The Benefit Of The Person.
Last Action
Notification that HB1347 is now Act 363
3/20/2025