HB1343
To Amend The Law Concerning Benefits Under The Arkansas Judicial Retirement System.
AI-Generated Summary
This bill proposes to amend the existing law pertaining to benefits within the Arkansas Judicial Retirement System. The core purpose, as stated in the bill, is to make changes to the benefits provided by this system. The bill does not specify the exact nature of these changes, only that it intends to alter the current provisions. It is a legislative act initiated by Representative Warren and Senator J. Dotson. The text indicates that this is an amendment to current law, meaning existing rules will be modified. The bill's subtitle reiterates its focus on amending laws related to the Arkansas Judicial Retirement System. Further details on the specific amendments are not provided in this excerpt. The bill is presented for consideration by the 95th General Assembly of Arkansas.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be current and future participants in the Arkansas Judicial Retirement System. This includes judges, justices, and potentially other judicial officers who contribute to and are eligible to receive benefits from this system. Depending on the specific amendments made to the benefits, these individuals could see an increase or alteration in their retirement payments, healthcare provisions, or other forms of compensation post-service.
Who Might Suffer?
The bill's text does not explicitly state who would be negatively impacted. However, if the amendments involve a reduction in benefits, increased contributions required from participants, or changes that make the system less financially robust, then current and future participants of the Arkansas Judicial Retirement System could be negatively impacted. Additionally, if the changes necessitate increased funding from the state's general revenue, taxpayers could indirectly bear a negative impact through higher taxes or reallocation of public funds.