SB155
To Amend The Law Concerning Administration Of The Arkansas Local Police And Fire Retirement System.
Last Action (Jan. 26, 2023): Sine Die adjournment
Sponsors
AI-Generated Summary
Senate Bill 155 is a legislative act intended to amend the existing laws governing the administration of the Arkansas Local Police and Fire Retirement System (LOPFI). The bill serves as a vehicle for technical or administrative updates to the statutes regulating how the retirement system is managed. While the bill text provided is a shell bill indicating an intent to change the administration, the specific policy amendments, procedural changes, or administrative adjustments are not detailed in this version of the text. The bill acts as a formal proposal to modify the operational framework of the retirement system for Arkansas police officers and firefighters.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries would be the administrative staff and board members of the Arkansas Local Police and Fire Retirement System (LOPFI), as the bill aims to refine the operational and administrative laws governing their duties. Depending on the specific subsequent amendments, active and retired police officers and firefighters enrolled in the system could also benefit from more efficient or updated retirement fund management.
Who Might Suffer?
Because the bill text is currently an intent-only document without specific policy details, it is difficult to identify direct negative impacts. Generally, administrative changes to retirement systems could potentially lead to increased compliance burdens for local municipalities or state agencies if the changes require new reporting or funding adjustments, though no such burdens are explicitly stated in the current text.
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