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AR SB160

AR SB160
To Amend The Law Concerning Administration Of The Arkansas Public Employees' Retirement System.


summary

Introduced
01/30/2025
In Committee
04/01/2025
Crossed Over
04/02/2025
Passed
04/09/2025
Dead
Signed/Enacted/Adopted
04/14/2025

Introduced Session

95th General Assembly (2025 Regular)

Bill Summary

AN ACT TO AMEND THE LAW CONCERNING ADMINISTRATION OF THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM; AND FOR OTHER PURPOSES.

AI Summary

This bill amends the Arkansas Public Employees' Retirement System (APERS) law in two key ways. First, it expands the definition of "participating public employer" to include the Arkansas Development Finance Authority, which means employees of this organization will now be eligible to participate in the state's public employees' retirement system. Second, the bill modifies the composition of the APERS Board of Trustees by adding two new ex officio members: the Secretary of the Department of Shared Administrative Services and the Bank Commissioner. These changes will broaden the participation in the retirement system and potentially diversify the perspectives on the governing board, potentially improving the system's administration and strategic oversight. The bill appears to be a technical update designed to ensure more comprehensive representation and participation in the state's public employee retirement system.

Committee Categories

Labor and Employment

Sponsors (3)

Last Action

Notification that SB160 is now Act 589 (on 04/14/2025)

bill text


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