The bill amends the Arkansas Teacher Retirement System's laws regarding survivor annuity benefits for dependent children. It raises the age limit for a deceased active member's child to be considered a dependent child eligible for annuity benefits from eighteen (18) to twenty-two (22) years of age. Additionally, it clarifies that a dependent child annuity is payable to the surviving child of a retiree or a disability retiree, provided the child meets eligibility criteria and has not been designated as an option beneficiary.

Furthermore, the bill includes an emergency clause, stating the need for immediate revisions to the Arkansas Teacher Retirement System to address administrative complexities and ensure compliance with public pension policy. The act is set to take effect on July 1, 2025, to align with the fiscal year of the retirement system, ensuring a structured administration of the updated provisions.

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