SB159
To Amend The Law Concerning Benefits Under Local Police And Fire Pension And Relief Funds.
Last Action (Jan. 26, 2023): Sine Die adjournment
Sponsors
AI-Generated Summary
Senate Bill 159 is a piece of legislation introduced in the 94th Arkansas General Assembly aimed at amending current state laws regarding benefits provided under local police and fire pension and relief funds. The bill serves as a vehicle to adjust the regulatory framework governing how these specific pension systems operate. While the introduced text provides the legislative intent to modify these benefits, the specific details regarding the nature of the benefit changes, such as adjustments to contribution rates, eligibility criteria, or payout calculations, are not specified within the initial text provided. The act seeks to provide a legislative update to the existing statutes regulating the financial security of retired or disabled local emergency personnel.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be local police officers, firefighters, and their dependents or survivors who participate in or rely on local police and fire pension and relief funds, as the act intends to modify the benefits associated with these systems.
Who Might Suffer?
The primary entities potentially negatively impacted include the municipal governments or local taxing districts that fund these pension systems, as any increase in benefits could require higher contributions from the employer or taxpayers to ensure the funds remain solvent and adequately funded.
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