HB1342
To Amend The Law Concerning The Administration Of The Arkansas Local Police And Fire Retirement System.
Last Action (May 5, 2025): Died in House Committee at Sine Die adjournment.
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AI-Generated Summary
House Bill 1342 is a legislative proposal introduced in the 95th General Assembly of Arkansas aimed at amending the administrative laws governing the Arkansas Local Police and Fire Retirement System (LOPFI). The bill's stated purpose is to modify existing statutes related to the operations and management of the retirement system. At this stage, the bill functions as a placeholder or framework, as the specific legislative language detailing the administrative changes has not been fully articulated beyond the general intent to amend the system's governing laws. The act focuses on the regulatory and structural governance of pension benefits for local law enforcement and firefighting personnel in the state.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be the administrative board and staff of the Arkansas Local Police and Fire Retirement System, who would gain updated or clarified legal authority to manage the system, as well as the local police officers and firefighters whose retirement funds are overseen by the system if the administrative changes lead to improved efficiency or financial stability.
Who Might Suffer?
There are no identifiable groups directly negatively impacted by this bill at this time, as the specific amendments have not been fully defined. However, if administrative changes were to result in increased operational costs, higher administrative fees, or reduced flexibility in benefits management, the local government municipalities that contribute to the system or the individual retirees could potentially face indirect negative consequences.
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