Bill > HB1210

This bill amends Arkansas state law to clarify and establish procedures for transferring funds to cover administrative costs for the Arkansas Judicial Retirement System and the State Police Retirement System. Specifically, beginning July 1, 2027, the bill mandates that funds will be transferred from the Judges Retirement Fund and the State Police Retirement Fund to the Arkansas Public Employees' Retirement System (APERS) to cover administrative expenses. The transfer amount will be calculated using a 50/50 weighted average based on the system's percentage of total invested assets and total membership. The transfer must be approved by the Chief Fiscal Officer of the State and will be recorded on the books of the Chief Fiscal Officer, Treasurer of State, and Auditor of State. The bill also removes previous language requiring board authorization for administrative expenses and defines "total invested assets" and "total membership" as the combined values across the retirement systems at the end of each fiscal year. These changes aim to standardize and clarify the financial management of these retirement systems.

Labor and Employment

https://arkleg.state.ar.us/Bills/Detail?id=hb1210&ddBienniumSession=2025%2F2025R