SB150
To Amend The Law Concerning Retirement Benefits; And To Prohibit Collection Of Benefits By Members, Retirants, Or Beneficiaries Of Retirement Systems Who Are Convicted Of Certain Offenses.
Last Action (May 1, 2023): Sine Die adjournment
Sponsors
AI-Generated Summary
Senate Bill 150 amends Arkansas law concerning the forfeiture of retirement benefits for public employees and their beneficiaries. It defines key terms such as 'benefit,' 'public office,' and 'public trust crime' to clarify the scope of these provisions. The bill establishes that members or retirants forfeit their right to retirement benefit payments if they are convicted of or plead guilty/nolo contendere to a public trust crime while holding public office. It also expands the circumstances under which a beneficiary may forfeit benefits, including the unlawful killing of a member or being found liable for the wrongful death of a member. The bill provides a mechanism for the refund of accumulated employee contributions, minus any benefits already received, to the affected individual or their estate. It also dictates procedures for handling benefits during the pendency of an appeal for a conviction. Finally, the bill specifies that these provisions are not retroactive and apply only to members who begin making contributions after the bill's enactment.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are the taxpayers of Arkansas and the retirement systems themselves. By prohibiting individuals who have committed public trust crimes from collecting state-funded retirement benefits, the bill ensures that public funds are not used to support those who have violated the public trust. Additionally, the clarification of forfeiture rules provides administrative guidance to retirement boards, potentially reducing legal ambiguity regarding benefit disbursements.
Who Might Suffer?
The primary individuals negatively impacted are public officials or beneficiaries of public employees who are convicted of specific public trust crimes or acts involving the unlawful killing of a member. These individuals lose the ability to collect ongoing retirement benefit payments funded by the state. While they are permitted to receive a refund of their personal employee contributions (plus interest, minus benefits already paid), they lose the long-term security of the pension or retirement system structure.
Get Notified
Receive an email when this bill's status changes.