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HB 1156

RELATING TO SPECIAL FACILITY REVENUE BONDS.

2025 Regular Session Introduced by Nadine Nakamura

HB 1156 ensures surviving spouses of Arkansas teachers qualify for 100% annuity benefits if married for at least two years before the member's death, enhancing financial security.

Act 070, 05/19/2025 (Gov. Msg. No. 1170).
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Bill Summary · HB 1156

Summary of House Bill 1156 (HB 1156)

Overview

House Bill 1156 (HB 1156) is a legislative measure introduced in the Arkansas General Assembly aimed at amending the eligibility criteria for survivor annuity benefits under the Arkansas Teacher Retirement System (ATRS). The bill was introduced on January 16, 2025, and has since been enacted as Act 070 on May 19, 2025.

Purpose and Intent

The primary purpose of HB 1156 is to clarify and update the provisions regarding survivor annuity benefits for the surviving spouses of active members of the ATRS. The bill seeks to ensure that the benefits provided are in line with sound public pension policy and actuarial requirements, thereby enhancing the financial security of surviving spouses.

Key Provisions

  • Eligibility Criteria: The bill amends Arkansas Code § 24-7-710(b)(1)(A)(i) to specify that a surviving spouse must have been married to the active member for at least two years immediately preceding the member's death to qualify for survivor annuity benefits.
  • Benefit Calculation: The surviving spouse will receive an annuity calculated as if the active member had retired on the date of death, opting for Option A, which provides 100% survivor annuity benefits.
  • Emergency Clause: The bill includes an emergency clause, allowing it to take effect on July 1, 2025, to align with the fiscal year of the ATRS and ensure timely implementation of the changes.

Impact

  • Surviving Spouses: The amendments directly benefit surviving spouses of active ATRS members by providing clearer eligibility requirements and ensuring they receive adequate financial support.
  • Arkansas Teacher Retirement System: The bill aims to streamline administrative processes within the ATRS, making it easier to manage benefits and comply with updated policies.
  • Public Pension Policy: By aligning the ATRS provisions with sound actuarial practices, the bill seeks to enhance the overall sustainability and reliability of the retirement system for its members.

Legislative Timeline

  • Introduced: January 16, 2025
  • Passed: The bill underwent several readings and amendments before passing the final reading in both the House and Senate on February 24, 2025.
  • Enacted: The bill was signed into law and became Act 070 on May 19, 2025, with an effective date of July 1, 2025.

Conclusion

HB 1156 represents a significant update to the Arkansas Teacher Retirement System, ensuring that surviving spouses of active members receive appropriate benefits while also addressing administrative complexities within the system. The enactment of this bill is a proactive step towards enhancing the financial security of educators' families in Arkansas.

Compiled from official sources — confirm details with the bill’s official record.

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