Bill > HB1119

This bill amends the Arkansas Local Police and Fire Retirement System's regulations regarding delinquent payments by political subdivisions. The key changes include reducing the grace period for late payments from ten to five calendar days and modifying the certification process for delinquencies. Under the new provisions, if a political subdivision fails to make a required payment or submit required reporting within five calendar days of the due date, it will be considered delinquent. The Board of Trustees of the Arkansas Local Police and Fire Retirement System will certify the delinquency according to established rules, and the Treasurer of State is authorized to withhold all state funds owed to the delinquent political subdivision until the overdue payment, along with regular interest, is satisfied. The bill also includes an emergency clause declaring the need for administrative changes in managing delinquent payments for municipal firemen's and policemen's pension funds, with an effective date of July 1, 2025, to allow time for programming updates and employer notifications.

Labor and Employment

https://arkleg.state.ar.us/Bills/Detail?id=hb1119&ddBienniumSession=2025%2F2025R