SB160
To Amend The Law Concerning Benefits 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 160 is a legislative act intended to modify existing statutes governing the Arkansas State Highway Employees' Retirement System (ASHERS). The bill provides a broad framework for potential amendments to retirement benefits provided to current and former employees of the Arkansas Department of Transportation. As introduced, the text serves as a vehicle for future specific amendments to the retirement system's legal code. The bill does not specify the exact nature of the benefit changes, instead setting the legislative intent to update these provisions.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are current and retired employees of the Arkansas Department of Transportation who participate in the Arkansas State Highway Employees' Retirement System, as they are the direct recipients of the benefits governed by this system.
Who Might Suffer?
The bill could potentially impact the state budget or the solvency of the retirement fund if the amendments result in increased financial liabilities for the pension system. Taxpayers may be indirectly affected if adjustments to the retirement system require additional state contributions to maintain the fund's actuarial health.
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