SB161
To Amend The Law Concerning Benefits Under Local Police And Fire Pension And Relief Funds.
Last Action (May 5, 2025): Died in Senate Committee at Sine Die adjournment.
Sponsors
AI-Generated Summary
Senate Bill 161 is a legislative proposal in the 95th General Assembly of Arkansas intended to amend existing laws governing local police and fire pension and relief funds. The bill acts as a framework for adjusting how retirement benefits are managed or distributed for these public safety groups. While the bill text currently provides limited specific details on the nature of the amendments, its primary purpose is to modify the statutory regulations surrounding these specific pension systems. The act does not specify exact changes to benefit formulas, eligibility, or contribution rates at this stage, serving as an introductory legislative vehicle for future adjustments to the local pension and relief structure.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill are local police officers, firefighters, and their families, as the legislation is specifically designed to manage or adjust their pension and relief funds, potentially leading to updated benefit structures.
Who Might Suffer?
The primary entities that could be negatively impacted are local municipalities, local government pension boards, and taxpayers, as any expansion or modification of pension benefits may necessitate increased funding requirements, budgetary adjustments, or higher contribution rates to maintain the solvency of these retirement funds.
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