Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas HB1195: TO AMEND THE LAWS CONCERNING EMPLOYEES OF A MUNICIPALITY THAT PARTICIPATES IN THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE ELECTION TO INSTEAD PARTICIPATE IN A LOCAL RETIREMENT PLAN
Status: Failed, May 5, 2025
What the bill says
An act to be entitled an act to amend the laws concerning employees of a municipality that participates in the arkansas public employees' retirement system; to amend the requirement that an employee of a municipality that participates in the arkansas public employees' retirement system shall decide whether to elect not to participate in the arkansas public employees' retirement system and instead participate in a local retirement plan within ninety (90) days of assuming office; and for other purposes…
From the introduced text:
An Act To Be Entitled AN ACT TO AMEND THE LAWS CONCERNING EMPLOYEES OF A MUNICIPALITY THAT PARTICIPATES IN THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM; TO AMEND THE REQUIREMENT THAT AN EMPLOYEE OF A MUNICIPALITY THAT PARTICIPATES IN THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM SHALL DECIDE WHETHER TO ELECT NOT TO PARTICIPATE IN THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND INSTEAD PARTICIPATE IN A LOCAL RETIREMENT PLAN WITHIN NINETY (90) DAYS OF ASSUMING OFFICE; AND FOR OTHER PURPOSES. Subtitle TO AMEND THE LAWS CONCERNING EMPLOYEES OF A MUNICIPALITY THAT PARTICIPATES IN THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE ELECTION TO INSTEAD PARTICIPATE IN A LOCAL RETIREMENT PLAN. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 24-4-303(a)(1)(C)(i), concerning an employee of a municipality that covers its employees under the Arkansas Public Employees' Retirement System and his or her decision to opt into participation in the local retirement plan instead, is amended to read as follows: (C)(i) If the employee elects not to continue *LJH062* 01/21/2025 4:19:20 PM LJH062 HB1195 participation in the system and opts to participate in the local retirement plan as provided under § 24-12-121 or § 24-12-123, instead, written notice of the election shall be presented to the system in a form determined acceptable by the system not …