The bill amends Arkansas law regarding retirement benefits by prohibiting members, retirants, or beneficiaries of retirement systems from collecting benefits if they have been convicted of certain offenses, specifically public trust crimes. It introduces new definitions for terms such as "benefit," "member," "public office," and "public trust crime," and clarifies the conditions under which benefits are forfeited. A member or retirant will lose their right to benefit payments if they plead guilty or are found guilty of a public trust crime while holding public office. Additionally, beneficiaries will also forfeit their rights under similar circumstances.

The bill outlines 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 also 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 will not apply retroactively, meaning it will only affect members who begin making contributions after the bill's effective date.

Statutes affected:
SB 151: 24-1-301