This bill amends existing laws regarding the transfer of funds for the administration of the Arkansas Judicial Retirement System and the State Police Retirement System. It specifies that the Judges Retirement Fund will be used for the benefit of retirants, investment purposes, and the costs of administering the Arkansas Judicial Retirement System. Additionally, it mandates that funds be transferred from both the Judges Retirement Fund and the State Police Retirement Fund to the Arkansas Public Employees' Retirement System for the administration and management of their respective retirement systems.

Furthermore, the bill introduces a new section that outlines the process for transferring necessary funds from both retirement funds to the Arkansas Public Employees' Retirement System starting July 1, 2027. The amount transferred will be based on a calculated percentage of the total administrative costs, using a weighted average of the pro-rata percentages of total invested assets and total membership for each retirement system. This ensures that the administrative costs are fairly allocated based on the size and investment of each system.

Statutes affected:
HB 1210: 19-5-914(c), 19-5-917(c), 24-8-204(c)
Act 130: 19-5-914(c), 19-5-917(c), 24-8-204(c)