Bill > HB1154

This bill makes several modifications to the Arkansas Teacher Retirement System (ATRS) regulations. It changes how members can receive credit for federal service by requiring payment of the actuarial equivalent of benefits instead of a specific cost of service. The bill extends a provision from July 1, 2021, to June 30, 2025, which requires active members changing from non-teacher to administrator or teacher status to become contributory system members. The legislation repeals provisions related to temporary waivers for electronic reporting and paying contributions. It also modifies how Option B annuities are distributed upon a retiree's death, adjusting the language to specify that one-half of the reduced annuity will be paid equally to dependent children when no spouse is designated. Additionally, the bill changes the timeframe for residue beneficiaries to elect an Option A annuity from 120 days to the end of the fourth full calendar month after the retiree's death. The bill repeals some existing provisions about survivor benefits and residue disposition, and modifies eligibility requirements for participating in a PSHE (Public School Hospitals and Educational) plan. An emergency clause is included, declaring the immediate necessity of these changes for the proper functioning of the Arkansas Teacher Retirement System, with an effective date of July 1, 2025.

Labor and Employment

https://arkleg.state.ar.us/Bills/Detail?id=hb1154&ddBienniumSession=2025%2F2025R