This bill amends the laws regarding 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 timeline for this decision, allowing employees to provide written notice of their election not later than ninety days after first assuming office, now specified as during their first term and any subsequent term. Additionally, the bill introduces temporary provisions that grant 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 extension ensures that employees are not ineligible to opt out of APERS during the first ninety days of their subsequent term, thereby providing them with more flexibility in their retirement planning.

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