HB1328
To Increase The Maximum Number Of Years Of Participation In The Arkansas State Police Officers Deferred Option Plan And The Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan.
Last Action (May 5, 2025): Died in House Committee at Sine Die adjournment.
Sponsors
AI-Generated Summary
House Bill 1328 proposes amendments to the Arkansas Code concerning the retirement plans for state police officers. Specifically, the bill seeks to extend the maximum duration of participation in both the Arkansas State Police Officers Deferred Option Plan (Tier One) and the Arkansas State Police Officers' Tier Two Deferred Retirement Option Plan. Under current law, participation in these plans is limited to seven years. The proposed legislation would increase this maximum limit to ten years for both plans.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are active Arkansas State Police officers who are eligible for the deferred retirement option plans. By extending the maximum participation period from seven to ten years, these officers gain additional flexibility in their retirement planning, potentially allowing them to accrue more benefits or delay their official retirement while remaining in active service.
Who Might Suffer?
The primary entity negatively impacted is the Arkansas State Police retirement fund, which may face increased long-term fiscal liabilities due to extended participation in the deferred retirement plans. Additionally, younger or aspiring officers might experience slower career advancement or promotion opportunities as senior officers choose to remain in their positions for a longer duration.
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