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(a) It is found and declared by the General Assembly that the establishment of a long-term intergenerational security trust with tax deferment provisions for an individual under eighteen (18) years of age will enable the individual’s family and friends to take advantage of long-term growth opportunities and provide for the accumulation of a sizable sum of money for the individual’s retirement and financial security.
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(b) It is further found and declared that individuals are living longer after retirement and their incomes do not generally grow with inflation and that the additional source of money created by a long-term intergenerational security trust will improve the quality of life of older Arkansans and possibly indirectly reduce present government expenditures.
