The bill amends Arkansas law regarding retirement benefits by prohibiting members, retirants, or beneficiaries of retirement systems from collecting benefits if they are convicted of certain offenses, specifically public trust crimes. New definitions are added to clarify terms such as "benefit," "member," "public office," and "public trust crime." The bill stipulates that a member or retirant forfeits their right to benefits if they plead guilty or are found guilty of a public trust crime while in public office. Additionally, it outlines the conditions under which beneficiaries may also forfeit their rights to benefits.

Furthermore, the bill establishes procedures for the refund of employee contributions to members or retirants who have forfeited their benefits, including options for lump-sum or monthly payments. It also specifies that if a conviction is appealed and reversed, benefits may be reinstated upon repayment of contributions. Importantly, the bill clarifies that it does not apply retroactively, meaning it will only affect those who begin making contributions after the bill's enactment.

Statutes affected:
Old version SB150 V2 - 2-14-2023 09:28 AM: 24-1-301
Old version SB150 V3 - 3-28-2023 10:23 AM: 24-1-301
SB 150: 24-1-301