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Arkansas public employees and police pension plans could merge under a bill in the Arkansas state Senate.
The bill will combine the $5 billion Arkansas Public Employees Retirement System and $250 million Arkansas Police Retirement System as of July 1, 2009. .
Currently, separate boards of trustees oversee each systems investments.
A merger would ensure a strong funded status while ensuring that benefits provided to the annuitants and beneficiaries of the retirement systems maintain sufficient liquidity to provide benefits in accordance with Arkansas law, according to the bill.
The public employees system had $5.1 billion in assets as of Sept. 30, according to Pensions & Investments. The police system had $250 million as of June 2007, according to the 2009 Money Market Directory.
The state assemblys Joint Committee on Public Retirement & Social Security Programs could discuss the bill March 9.
Neither Gail Stone, executive director of both systems, nor Steve Faris, the Democratic state senator who proposed the bill, returned calls by press time seeking more information.