This bill amends the laws regarding employees of municipalities participating in the Arkansas Public Employees' Retirement System (APERS). It changes the requirement for employees to decide whether to opt out of APERS and participate in a local retirement plan. Specifically, the bill allows employees to provide written notice of their election to opt out within ninety (90) days of assuming office during their first term and any subsequent term, rather than just the first time they assume office.

Additionally, the bill introduces temporary provisions that grant employees, including mayors and city clerks of first-class cities, an extra ninety (90) days from the effective date of the act to make their election regarding retirement plan participation. This extension ensures that employees are not ineligible to opt out during the first ninety (90) days of their subsequent term, thereby providing them with more flexibility in their retirement planning.

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