HB1120

House Bill 1120 is an appropriations bill that establishes the annual budget for the Arkansas Public Employees Retirement System (APERS) for the fiscal year ending June 30, 2026. The bill authorizes staffing levels for the agency, setting a maximum of 78 regular employees and 6 part-time or temporary positions. It provides funding for various operating expenses, including salaries, professional fees, and data processing services. Furthermore, the bill appropriates funds for the payment of retirement benefits and refunds for members of APERS, the State Police Retirement System, and the Judicial Retirement System. The legislation also includes special provisions allowing for the transfer of funds between these retirement systems to cover administrative and system maintenance costs. It further provides for specific exemptions from prior legislative review for certain budgetary adjustments related to retiree payment methods.