This bill amends the laws governing employees of municipalities participating in the Arkansas Public Employees' Retirement System (APERS). It modifies the requirement for employees to decide whether to opt out of APERS in favor of a local retirement plan. Specifically, the bill changes the timeframe for this decision from the first day of assuming office to within ninety days during their first term and any subsequent terms. The amended language clarifies that written notice of the election must be submitted to the system in an acceptable form within this timeframe.

Additionally, the bill introduces temporary provisions allowing employees, including mayors and city clerks of first-class cities, an extended ninety-day period from the effective date of the act to make their election regarding participation in the local retirement plan. This provision ensures that employees are not rendered ineligible to opt out of APERS during the first ninety days of their subsequent term, thereby providing them with continued flexibility in their retirement planning.

Statutes affected:
HB 1195: 24-4-303(a)