SB162
To Amend The Law Concerning Credited Service Under The Arkansas Judicial Retirement System.
Last Action (May 5, 2025): Died in Senate Committee at Sine Die adjournment.
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AI-Generated Summary
Senate Bill 162 is a legislative proposal intended to amend existing laws regarding the calculation and acquisition of credited service within the Arkansas Judicial Retirement System. The bill serves as a placeholder or framework for upcoming adjustments to how judicial pension benefits are accrued or administered. As currently drafted, the text explicitly states the purpose of the act is to modify these specific retirement system provisions. The legislation does not provide specific details on the nature of the changes to credited service at this stage. It represents a formal legislative mechanism to initiate updates to the judicial retirement framework.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be active and retired members of the Arkansas Judicial Retirement System, including judges and justices, who may see adjustments to how their retirement service credit is calculated or accrued depending on the specific amendments eventually enacted.
Who Might Suffer?
The primary entity potentially negatively impacted would be the Arkansas Judicial Retirement System itself, or the state's pension fund budget, if the amendments to credited service result in increased liabilities, unfunded mandates, or a greater financial burden on the state's retirement system.
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