Stricken language would be deleted from and underlined language would be added to present law.
Act 280 of the Regular Session
1 State of Arkansas
2 93rd General Assembly A Bill
3 Regular Session, 2021 HOUSE BILL 1350
4
5 By: Representative Warren
6
7 For An Act To Be Entitled
8 AN ACT CONCERNING THE ELIGIBILITY OF A MEMBER TO
9 PARTICIPATE IN THE ARKANSAS STATE POLICE OFFICERS'
10 TIER TWO DEFERRED RETIREMENT OPTION PLAN; TO DECLARE
11 AN EMERGENCY; AND FOR OTHER PURPOSES.
12
13
14 Subtitle
15 CONCERNING THE ELIGIBILITY OF A MEMBER TO
16 PARTICIPATE IN THE ARKANSAS STATE POLICE
17 OFFICERS' TIER TWO DEFERRED RETIREMENT
18 OPTION PLAN; AND TO DECLARE AN EMERGENCY.
19
20
21 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
22
23 SECTION 1. Arkansas Code 24-6-502(1)(B), concerning the eligibility
24 to participate in the Arkansas State Police Officers' Tier Two Deferred
25 Retirement Option Plan, is amended to read as follows:
26 (B) Has at least thirty (30) years of actual service as a
27 member of the State Police Retirement System's Tier Two Benefit Plan under
28 24-6-401 et seq., including service credit a member earns after April 3,
29 1997, as a member of the plan under 24-6-401 et seq. and the member's
30 service credit from a reciprocal retirement system under 24-2-401 et seq.;
31 and
32
33 SECTION 2. Arkansas Code 24-6-503 is repealed.
34 24-6-503. Limitation on credited service Definition.
35 For purposes of this subchapter, actual service includes:
36 (1) The service credit a member earns after April 3, 1997, as a
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 HB1350
1 member of the State Police Retirement System's Tier Two Benefit Plan under
2 24-6-401 et seq.; and
3 (2) The member's service credit from any reciprocal retirement
4 system under 24-2-401.
5
6 SECTION 3. EMERGENCY CLAUSE. It is found and determined by the
7 General Assembly of the State of Arkansas that certain provisions of law
8 concerning the retirement plan of the State Police Retirement System, a state
9 retirement plan created by the General Assembly for the purpose of providing
10 retirement benefits to state police officers and administered by the Arkansas
11 Public Employees' Retirement System, is in need of revision and updating to
12 maintain the retirement laws in conformance with sound public pension policy;
13 that the State Police Retirement System operates on a fiscal year of July 1
14 to June 30; that having a July 1, 2021, effective date is necessary to allow
15 the provisions within this act to begin on the first day of the fiscal year
16 to provide for the proper administration of the procedures in this act; that
17 the revisions and updates are of great importance for actuarial purposes and
18 to protect the benefits provided to members of the State Police Retirement
19 System; and that this act is immediately necessary in order to maintain an
20 orderly system of benefits for the members of the State Police Retirement
21 System. Therefore, an emergency is declared to exist, and this act being
22 necessary for the preservation of the public peace, health, and safety shall
23 become effective on July 1, 2021.
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26 APPROVED: 3/8/21
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Statutes affected:
HB 1350: 24-6-502(1)
Act 280: 24-6-502(1)