This bill amends the Arkansas Public Employees' Retirement System (APERS) laws to allow public library systems formed under the Interlocal Cooperation Act to become participating public employers. It includes provisions for the employees of these library systems to join APERS, thereby extending retirement benefits to them. The bill updates the definitions of "nonstate employees" and "participating public employer" to include public library systems, and it introduces a new definition for "public library system" within the context of APERS.

Additionally, the bill establishes a requirement for counties that fund these public library systems to cover any unpaid contributions to APERS if the library system fails to meet its financial obligations. This ensures that employees of the library systems are still able to receive the necessary retirement contributions, thereby protecting their benefits. Overall, the bill aims to enhance the retirement security of employees working in public library systems across Arkansas.

Statutes affected:
Old version SB163 V2 - 4-4-2023 01:24 PM: 24-4-101(27), 24-4-101(29), 24-4-101, 24-4-202
SB 163: 24-4-101(27), 24-4-101(29), 24-4-101, 24-4-202