The bill amends the provisions regarding credited service under the Arkansas Public Employees' Retirement System (APERS) to allow members who have previously participated in an alternate retirement plan to receive service credit for that time. Specifically, it introduces a new subsection that permits members to count years of employment under an alternate retirement plan towards meeting eligibility requirements for retirement benefits, provided they did not vest in the alternate plan and did not withdraw contributions or receive payments from it.

To ensure that service credit is granted, the bill stipulates that members must provide documentation from both the covered employer and the alternate retirement plan to verify compliance with these conditions. Additionally, the Executive Director of APERS must confirm that sufficient documentation is provided and that all other requirements are met before crediting service from the alternate retirement plan.

Statutes affected:
HB 1325: 24-4-901
Act 286: 24-4-901