This bill amends the Arkansas Code concerning retirement benefits by prohibiting the collection of benefits by members, retirants, or beneficiaries of retirement systems who have been convicted of certain offenses, specifically public trust crimes. The bill introduces new definitions, including "benefit," "member," "public office," "public trust crime," and "retirant," to clarify the terms used in the context of retirement benefits. It establishes that a member or retirant forfeits their right to benefit payments if they plead guilty or are found guilty of a public trust crime while holding public office. Additionally, it outlines the conditions under which beneficiaries may also forfeit their rights to benefits.

The bill also details the process for refunding employee contributions to members or retirants who have forfeited their benefits, including provisions for lump-sum payments or monthly payments. It specifies that if a member, retirant, or beneficiary appeals their conviction, benefit payments will be suspended until the appeal is resolved. If the conviction is reversed, benefits may be reinstated upon repayment of contributions. Importantly, the bill states that it is not intended to apply retroactively and will only affect members who begin making contributions after the bill's effective date.

Statutes affected:
Old version SB151 V2 - 3-31-2025 11:06 AM: 24-1-301
Old version SB151 Original - 3-18-2025 10:00 AM: 24-1-301
SB 151: 24-1-301