SB126

Senate Bill 126 amends the Arkansas Public Employees’ Retirement System (APERS) to simplify and streamline survivor benefit procedures. It modifies the post-retirement marriage period required for a retiree to elect survivor annuity options, reducing the waiting window from one year to six months. The bill clarifies eligibility criteria for designated beneficiaries, including spousal and dependent child requirements. It also updates language regarding the cancellation of specific survivor annuity options following divorce, marriage dissolution, or the death of a beneficiary. Furthermore, the bill makes technical corrections to existing statutes to remove obsolete provisions and improve administrative efficiency. The legislation includes an emergency clause, allowing these changes to take effect immediately upon enactment.