SB168
To Amend The Law Concerning Credited Service Under The Arkansas State Highway Employees' Retirement System.
Last Action (Jan. 26, 2023): Sine Die adjournment
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AI-Generated Summary
Senate Bill 168 is a legislative act introduced in the 94th General Assembly of Arkansas intended to amend existing laws governing credited service within the Arkansas State Highway Employees' Retirement System (ASHERS). The bill provides a legislative framework for updates to how retirement service credits are calculated or managed for state highway employees. As drafted, the text serves as a vehicle for future amendments regarding retirement benefits and eligibility requirements for members of the system. It does not contain specific changes to the underlying code in its current presented form, indicating it serves as a placeholder or framework for upcoming adjustments to state employee retirement policy.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be current and former employees of the Arkansas Department of Transportation who are members of the Arkansas State Highway Employees' Retirement System, as the legislation is intended to clarify or improve the accrual and administration of their retirement service credits.
Who Might Suffer?
The primary entities potentially negatively impacted include the Arkansas State Highway Employees' Retirement System fund itself or the state treasury, depending on whether the forthcoming amendments increase the financial liabilities or funding requirements of the pension system.
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