HB1337
To Amend The Law Concerning Credited Service Under Local Police And Fire Pension And Relief Funds.
Last Action (May 5, 2025): Died in House Committee at Sine Die adjournment.
Sponsors
AI-Generated Summary
House Bill 1337 is a legislative proposal introduced in the 95th Arkansas General Assembly to amend existing state laws governing credited service within local police and fire pension and relief funds. The bill serves as a vehicle to adjust how credited service is calculated or recognized for members of these municipal retirement systems. By updating these statutory provisions, the act aims to clarify or modify the standards by which first responders accrue time toward their pension benefits. The text provided is a placeholder bill that sets the legislative intent for these pension-related changes. As currently drafted, it establishes the scope of the amendments to local pension law without detailing specific technical modifications.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are local police officers and firefighters participating in municipal pension and relief funds, as the bill potentially allows for more favorable or clearer accrual of credited service toward their retirement benefits.
Who Might Suffer?
The primary entities that could be negatively impacted are local municipal governments and taxpayer-funded pension boards, as any expansion or modification of credited service standards may increase the long-term financial liabilities and funding requirements for these pension plans.
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