This bill amends the Arkansas Teacher Retirement System's provisions regarding survivor annuity benefits for dependent children. Notably, it raises the age limit for a deceased active member's child to qualify as a dependent child from eighteen (18) to twenty-two (22) years of age. The bill also clarifies eligibility criteria for dependent child annuities, ensuring that children of retirees who die after returning to work or those of disability retirees are treated equally under the system. Additionally, it removes previous stipulations regarding full-time student enrollment and military duty that could affect the annuity status of dependent children.

The bill includes an emergency clause, indicating the urgency of these amendments to address administrative complexities and ensure compliance with sound public pension policy. The changes are deemed necessary for the protection of member benefits and to clarify reporting and contribution requirements for employers in the Arkansas Teacher Retirement System. The act is set to take effect on July 1, 2025, aligning with the fiscal year of the retirement system.

Statutes affected:
HB 1157: 24-7-710(c), 24-7-710(g)
Act 225: 24-7-710(c), 24-7-710(g)