Stricken language would be deleted from and underlined language would be added to present law.
Act 150 of the Regular Session
1 State of Arkansas
2 93rd General Assembly A Bill
3 Regular Session, 2021 SENATE BILL 106
4
5 By: Senator B. Sample
6 By: Representative Warren
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8 For An Act To Be Entitled
9 AN ACT TO AMEND THE LAW CONCERNING ELIGIBILITY TO
10 RECEIVE INCREASED BENEFITS, THE HEALTHCARE OFFSET,
11 AND DEFERRED OPTION ACCOUNTS UNDER THE ARKANSAS STATE
12 HIGHWAY EMPLOYEES' RETIREMENT SYSTEM; TO DECLARE AN
13 EMERGENCY; AND FOR OTHER PURPOSES.
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16 Subtitle
17 TO AMEND THE LAW CONCERNING ELIGIBILITY
18 TO RECEIVE INCREASED BENEFITS, THE
19 HEALTHCARE OFFSET, AND DEFERRED OPTION
20 ACCOUNTS UNDER THE ARKANSAS STATE HIGHWAY
21 EMPLOYEES' RETIREMENT SYSTEM; AND TO
22 DECLARE AN EMERGENCY.
23
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25 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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27 SECTION 1. Arkansas Code 24-5-125(a), concerning eligibility
28 requirements for receiving an increase in benefits, is amended to add an
29 additional subdivision to read as follows:
30 (3)(A) A member beginning participation in the Arkansas State
31 Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall
32 be ineligible to receive the amount described in subdivision (a)(1) of this
33 section added to his or her annuity to offset the cost of health insurance
34 and health care.
35 (B) A member participating in the Arkansas State Highway
36 Employees' Deferred Retirement Option Plan shall be eligible to receive the
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1 amount described in subdivision (a)(1) of this section added to his or her
2 annuity to offset the cost of health insurance and health care if:
3 (i) The member ceases participation in Arkansas
4 State Highway Employees' Deferred Retirement Option Plan;
5 (ii) The member terminates his or her employment
6 with the Arkansas Department of Transportation; and
7 (iii) Annuity benefit payments to the member begin.
8
9 SECTION 2. Arkansas Code 24-5-202(a), concerning required provisions
10 of the Arkansas State Highway Employees' Deferred Retirement Option Plan, is
11 amended to add an additional subdivision to read as follows:
12 (7)(A) The service retirement benefit for a member beginning
13 participation in the Arkansas State Highway Employees' Deferred Retirement
14 Option Plan after June 30, 2021, shall not include an amount added to the
15 member's annuity to offset the cost of health insurance and health care as
16 provided in 24-5-125(a)(1).
17 (B) A member beginning participation in the Arkansas State
18 Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall
19 be eligible to receive an amount added to his or her annuity to offset the
20 cost of health insurance and health care as provided in 24-5-125(a)(1) if:
21 (i) The member ceases participation in Arkansas
22 State Highway Employees' Deferred Retirement Option Plan;
23 (ii) The member terminates his or her employment
24 with the Arkansas Department of Transportation; and
25 (iii) Annuity benefit payments to the member begin.
26
27 SECTION 3. EMERGENCY CLAUSE. It is found and determined by the
28 General Assembly of the State of Arkansas that certain provisions of the law
29 applicable to the Arkansas State Highway Employees' Retirement System are in
30 urgent need of revision to bring the operations of the system into
31 conformance with sound public pension policy; that amendments to the law in
32 this act are of great importance to the citizens of this state; that a July
33 1, 2021 effective date is necessary to allow the provisions within this act
34 to begin on the first day of the fiscal year to provide for the proper
35 administration of the procedures referenced in this act; and that this act is
36 necessary to maintain an orderly system of benefits for the members of the
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1 system. Therefore, an emergency is declared to exist, and this act being
2 necessary for the preservation of the public peace, health, and safety shall
3 become effective on July 1, 2021.
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6 APPROVED: 2/24/21
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Statutes affected:
SB 106: 24-5-125(a)
Act 150: 24-5-125(a)