The bill amends the Arkansas Judicial Retirement System by repealing several provisions related to judges and justices serving beyond the age of seventy while retaining their retirement benefits. Specifically, it removes sections that previously allowed judges or justices who were not yet seventy at the time of election to complete their terms without losing retirement benefits. Additionally, it eliminates the stipulation that judges or justices must retire by their seventieth birthday or forfeit their retirement benefits, thereby allowing for more flexibility in their service.

Furthermore, the bill includes an emergency clause, stating that the revisions are necessary to align with sound public pension policy and to ensure proper administration of the Arkansas Judicial Retirement System. The effective date for these changes is set for July 1, 2023, to coincide with the beginning of the fiscal year, emphasizing the urgency of implementing these amendments to protect the benefits of system members.

Statutes affected:
SB 77: 24-8-215(c), 24-8-218(c), 24-8-224, 24-8-215, 24-8-710(b)