TO ENACT THE ARKANSAS TEACHER RETIREMENT SYSTEM'S GENERAL OMNIBUS; AND TO DECLARE AN EMERGENCY.

HB 1154 updates the Arkansas Teacher Retirement System (ATRS) through multiple technical amendments. It affects current and future ATRS members, including teachers, school administrators, and their beneficiaries, by clarifying membership status rules (e.g., requiring contributory status if switching roles), revising annuity distribution procedures for survivors, and eliminating temporary waivers for electronic contribution reporting. Key changes include specifying how Option B annuity payments are split among dependent children (Section 4), shortening the deadline for residue beneficiary elections (Section 5), and updating eligibility for participating in the PSHE plan (Section 9). The bill declares an emergency to ensure these changes take effect July 1, 2025, aligning with the state’s fiscal year.