This bill amends the retirement eligibility requirements for various public retirement systems in Arkansas, specifically targeting police officers, firefighters, public safety members, and sheriffs. It modifies the definition of "normal retirement age" for noncontributory members with credited service as public safety employees or sheriffs under the Arkansas Public Employees' Retirement System. The new language establishes that the normal retirement age is sixty-five years, reduced by one month for every two months of credited service, but not less than fifty-five years. Additionally, it provides specific retirement age criteria for sheriffs based on their years of service.

Furthermore, the bill introduces a tiered retirement age structure based on the length of credited service for members who retire after certain dates. Members with twenty-seven years of credited service can retire at a younger age if they retire between December 31, 2025, and January 1, 2027. The requirements continue to adjust for those with twenty-six years and twenty-five years of service, establishing a clear pathway for retirement eligibility based on years of service. This amendment aims to provide more flexible retirement options for public safety personnel while ensuring that the retirement system remains sustainable.

Statutes affected:
HB 1188: 24-1-101(29)