Stricken language would be deleted from and underlined language would be added to present law.
Act 44 of the Regular Session
1 State of Arkansas As Engrossed: H1/26/23
2 94th General Assembly A Bill
3 Regular Session, 2023 HOUSE BILL 1111
4
5 By: Representative Warren
6 By: Senator K. Hammer
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8 For An Act To Be Entitled
9 AN ACT TO AMEND THE AGE IN WHICH MEMBERS OF CERTAIN
10 PLANS UNDER THE ARKANSAS LOCAL POLICE AND FIRE
11 RETIREMENT SYSTEM AND LOCAL POLICE AND FIRE PENSION
12 AND RELIEF FUNDS BEGIN TO RECEIVE FUND DISTRIBUTIONS;
13 AND FOR OTHER PURPOSES.
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15
16 Subtitle
17 TO AMEND THE AGE IN WHICH MEMBERS OF
18 CERTAIN PLANS UNDER THE ARKANSAS LOCAL
19 POLICE AND FIRE RETIREMENT SYSTEM AND
20 LOCAL POLICE AND FIRE PENSION AND RELIEF
21 FUNDS BEGIN TO RECEIVE FUND
22 DISTRIBUTIONS.
23
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25 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
26
27 SECTION 1. Arkansas Code § 24-10-706(d)(2), concerning the
28 distribution of funds under the Local Police and Fire Deferred Retirement
29 Option Plan, is amended to read as follows:
30 (2)(A) All funds in the plan shall be distributed in a manner
31 prescribed by the Board of Trustees of the Arkansas Local Police and Fire
32 Retirement System no later than April 1 of the year following the calendar
33 year in which the participant becomes seventy-two (72) years of attains the
34 applicable age.
35 (B) In the case of a participant who attains seventy-two
36 (72) years of age after December 31, 2022, and seventy-three (73) years of
*LHR049* 01-26-2023 09:14:09 LHR049
 As Engrossed: H1/26/23 HB1111
1 age before January 1, 2033, the applicable age is seventy-three (73) years of
2 age.
3 (C) In the case of a participant who attains seventy-four
4 (74) years of age after December 31, 2032, the applicable age is seventy-five
5 (75) years of age.
6
7 SECTION 2. Arkansas Code § 24-11-210(f), concerning the distribution
8 of funds for a qualified municipal firemen's relief and pension fund plan or
9 a policemen's pension and relief fund plan under the Internal Revenue Code,
10 is amended to read as follows:
11 (f)(1) Distributions of benefits shall begin no later than April 1 of
12 the year following the calendar year during which the member becomes seventy-
13 two (72) years of attains the applicable age or terminates employment with
14 the employer, whichever is later, and shall otherwise conform to the Internal
15 Revenue Code, 26 U.S.C. § 401(a)(9).
16 (2) In the case of a participant who attains seventy-two (72)
17 years of age after December 31, 2022, and seventy-three (73) years of age
18 before January 1, 2033, the applicable age is seventy-three (73) years of
19 age.
20 (3) In the case of a participant who attains seventy-four (74)
21 years of age after December 31, 2032, the applicable age is seventy-five (75)
22 years of age.
23
24 SECTION 3. Arkansas Code § 24-11-434(f)(4)(B), concerning the
25 distribution of funds under the Arkansas Police Officers Deferred Retirement
26 Option Plan for a police officer employed by a city of the first class, is
27 amended to read as follows:
28 (B)(i) These funds shall be distributed or annuitized by
29 April 1 of the year following the calendar year in which a member becomes
30 seventy-two (72) years of attains the applicable age.
31 (ii) In the case of a participant who attains
32 seventy-two (72) years of age after December 31, 2022, and seventy-three (73)
33 years of age before January 1, 2033, the applicable age is seventy-three (73)
34 years of age.
35 (iii) In the case of a participant who attains
36 seventy-four (74) years of age after December 31, 2032, the applicable age is
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 As Engrossed: H1/26/23 HB1111
1 seventy-five (75) years of age.
2
3 SECTION 4. Arkansas Code § 24-11-830(f)(4)(B), concerning the
4 distribution of funds under the Arkansas Fire Fighters Deferred Retirement
5 Option Plan, is amended to read as follows:
6 (B)(i) These funds shall be distributed or annuitized by
7 April 1 of the year following the calendar year in which a member becomes
8 seventy-two (72) years of attains the applicable age.
9 (ii) In the case of a participant who attains
10 seventy-two (72) years of age after December 31, 2022, and seventy-three (73)
11 years of age before January 1, 2033, the applicable age is seventy-three (73)
12 years of age.
13 (iii) In the case of a participant who attains
14 seventy-four (74) years of age after December 31, 2032, the applicable age is
15 seventy-five (75) years of age.
16
17 /s/Warren
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20 APPROVED: 2/9/23
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Statutes affected:
Old version HB1111 V2 - 1-26-2023 09:14 AM: 24-10-706(d), 24-11-210(f), 24-11-434(f), 01-26-2023, 24-11-830(f)
HB 1111: 24-10-706(d), 24-11-210(f), 24-11-434(f), 24-11-830(f)
Act 44: 24-10-706(d), 24-11-210(f), 24-11-434(f), 01-26-2023, 24-11-830(f)