Stricken language would be deleted from and underlined language would be added to present law. *LJH004* 01/16/2025 9:20:35 AM LJH004 State of Arkansas 1 A Bill 2 Regular Session, 2025 HOUSE BILL 1156 3 4 By: Representative Warren 5 By: Senator K. Hammer 6 7 For An Act To Be Entitled 8 AN ACT TO AMEND THE LAW CONCERNING THE ELIGIBILITY OF 9 A SURVIVING SPOUSE FOR SURVIVOR ANNUITY BENEFITS 10 UNDER THE ARKANSAS TEACHER RETIREMENT SYSTEM; TO 11 DECLARE AN EMERGENCY; AND FOR OTHER PURPOSES. 12 13 14 Subtitle 15 TO AMEND THE LAW CONCERNING THE 16 ELIGIBILITY OF A SURVIVING SPOUSE FOR 17 SURVIVOR ANNUITY BENEFITS UNDER THE 18 ARKANSAS TEACHER RETIREMENT SYSTEM; AND 19 TO DECLARE AN EMERGENCY. 20 21 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 22 23 SECTION 1. Arkansas Code § 24 -7-710(b)(1)(A)(i), concerning survivor 24 annuity benefits for surviving spouses under the Arkansas Teacher Retirement 25 System, is amended to read as follows: 26 (b)(1)(A)(i) Unless the active member otherwise directs an alternative 27 beneficiary to receive the member’s residue with a payable balance by using a 28 beneficiary form approved by the system, the active member's surviving 29 spouse, who was married to the active member for at least the two (2) years 30 one (1) year immediately preceding the active member's death, shall receive 31 an annuity computed in the same manner in all respects as if the active 32 member had retired on the date of the active member's death and elected 33 Option A under § 24-7-706 to provide one hundred percent (100%) survivor 34 annuity benefits, including benefits applicable under § 24 -7-713, for his or 35 her surviving spouse. 36 HB1156 2 01/16/2025 9:20:35 AM LJH004 1 SECTION 2. EMERGENCY CLAUSE. It is found and determined by the 2 General Assembly of the State of Arkansas that the operations of a state 3 public retirement system are complex; that the Arkansas Teacher Retirement 4 System must be able to meet the needs of its members as anticipated by the 5 General Assembly; that certain provisions of the Arkansas Teacher Retirement 6 System Act, § 24-7-201 et seq., need immediate revision and updating to 7 address administrative complexities caused by these provisions and to bring 8 these provisions into conformance with sound public pension policy and 9 actuarial requirements; that the revisions and updates are of great 10 importance to members of the Arkansas Teacher Retirement System and to other 11 citizens of the State of Arkansas; that as the Arkansas Teacher Retirement 12 System operates on a fiscal year of July 1 to June 30, an effective date of 13 July 1, 2025, is necessary in order to allow the provisions within this act 14 to begin on the first day of the fiscal year and to allow for a structured 15 and proper administration of the procedures referenced in this act; that the 16 updates and revisions to the Arkansas Teacher Retirement System Act are of 17 great importance and necessary for protecting member benefits and clarifying 18 the reporting and contribution requirements of employers participating in the 19 Arkansas Teacher Retirement System; and that this act is necessary in order 20 to maintain an orderly system of benefits for the members of the Arkansas 21 Teacher Retirement System. Therefore, an emergency is declared to exist, and 22 this act being necessary for the preservation of the public peace, health, 23 and safety, shall become effective on July 1, 2025. 24 25 26 27 28 29 30 31 32 33 34 35 36