§ 10-3-703 - Joint interim committee. - Arkansas Statutes

10-3-703. Joint interim committee.

(a) Upon adjournment of each regular session, fiscal session, and special session of the General Assembly, the Joint Committee on Public Retirement and Social Security Programs is designated and constituted as a joint interim committee of the General Assembly to be known as the "Joint Interim Committee on Public Retirement and Social Security Programs".

(b) The Joint Interim Committee on Public Retirement and Social Security Programs shall consist of the members appointed to the Joint Committee on Public Retirement and Social Security Programs during each regular session of the General Assembly, and they shall serve thereon until the next following regular session, at which time all members shall be appointed in the manner provided in 10-3-701.

(c) The Joint Interim Committee on Public Retirement and Social Security Programs shall make continuing review of the statistics, actuarial solvency, adequacy of benefits, and all other aspects of the publicly supported retirement systems of this state. The Joint Interim Committee on Public Retirement and Social Security Programs shall also study and review all proposals for changes or amendments to any of the existing public retirement laws or for the creation of new or expanded public retirement systems and shall report its findings and recommendations to each session of the General Assembly in regard to each such proposal. Any member of the General Assembly, the boards of trustees and administrators of the publicly supported retirement systems of this state, and any member of any system may present information and request the review by the Joint Interim Committee on Public Retirement and Social Security Programs of proposed changes in the various retirement systems.

(d) The Joint Interim Committee on Public Retirement and Social Security Programs shall periodically report to the Legislative Council on the status of its studies and findings. The Joint Interim Committee on Public Retirement and Social Security Programs shall undertake such special studies as may be referred to the Joint Interim Committee on Public Retirement and Social Security Programs by the Legislative Council and report to the Legislative Council in regard thereto.

(e) In the event a vacancy occurs on the Joint Interim Committee on Public Retirement and Social Security Programs, the vacancy shall be filled in the same manner as provided in subsection (b) of this section for the original appointment.