SB115

Senate Bill 115 amends the Arkansas Teacher Retirement System (ATRS) to clarify and update survivor annuity benefits. The bill adjusts application timelines and processes for surviving spouses and dependents, specifically setting a six-month window for filing documentation. It establishes rules for the eligibility of dependent children, including provisions for those who serve in the military or defer their education enrollment. The legislation clarifies how benefits are calculated for children of members who return to work after retiring. It also updates definitions of 'active member' for the purpose of survivor eligibility. Additionally, the bill includes an emergency clause, allowing the provisions to take effect immediately upon enactment.