| 3 | 2 | | *LJH045* 01/30/2025 10:09:40 AM LJH045 |
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| 4 | 3 | | State of Arkansas 1 |
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| 5 | 4 | | 95th General Assembly A Bill 2 |
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| 6 | 5 | | Regular Session, 2025 HOUSE BILL 1325 3 |
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| 7 | 6 | | 4 |
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| 8 | 7 | | By: Representative C. Cooper 5 |
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| 9 | 8 | | By: Senator J. Dotson 6 |
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| 10 | 9 | | 7 |
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| 11 | 10 | | For An Act To Be Entitled 8 |
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| 12 | 11 | | AN ACT TO AMEND THE PROVISIONS REGARDING CREDITED 9 |
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| 13 | 12 | | SERVICE UNDER THE ARKANSAS PUBLIC EMPLOYEES' 10 |
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| 14 | 13 | | RETIREMENT SYSTEM; TO ALLOW A MEMBER OF THE ARKANSAS 11 |
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| 15 | 14 | | PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO RECEIVE 12 |
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| 16 | 15 | | SERVICE CREDIT FROM SERVICE UNDER AN ALTERNATE 13 |
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| 17 | 16 | | RETIREMENT PLAN TO MEET ELIGIBILITY REQUIREMENTS FOR 14 |
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| 18 | 17 | | A RETIREMENT BENEFIT UNDER CERTAIN CIRCUMSTANCES; AND 15 |
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| 19 | 18 | | FOR OTHER PURPOSES. 16 |
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| 20 | 19 | | 17 |
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| 21 | 20 | | 18 |
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| 22 | 21 | | Subtitle 19 |
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| 23 | 22 | | TO ALLOW A MEMBER OF THE ARKANSAS PUBLIC 20 |
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| 24 | 23 | | EMPLOYEES' RETIREMENT SYSTEM TO RECEIVE 21 |
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| 25 | 24 | | SERVICE CREDIT FROM SERVICE UNDER AN 22 |
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| 26 | 25 | | ALTERNATE RETIREMENT PLAN TO MEET 23 |
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| 27 | 26 | | ELIGIBILITY REQUIREMENTS. 24 |
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| 28 | 27 | | 25 |
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| 29 | 28 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 26 |
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| 30 | 29 | | 27 |
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| 31 | 30 | | SECTION 1. Arkansas Code § 24-4-901, concerning reciprocal service 28 |
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| 32 | 31 | | recognized under the Arkansas Public Employees’ Retirement System, is amended 29 |
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| 33 | 32 | | to add a new subsection to read as follows: 30 |
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| 34 | 33 | | (f)(1) A member of the Arkansas Public Employees’ Retirement System 31 |
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| 35 | 34 | | previously covered under an alternate retirement plan as defined in § 24 -7-32 |
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| 36 | 35 | | 202 may be credited for each year of employment covered under the alternate 33 |
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| 37 | 36 | | retirement plan to meet eligibility requirements for receiving a monthly 34 |
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| 38 | 37 | | retirement benefit under the system if the employee did not: 35 |
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| 39 | 38 | | (A) Vest in the alternate retirement plan; and 36 HB1325 |
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| 40 | 39 | | |
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| 41 | 40 | | 2 01/30/2025 10:09:40 AM LJH045 |
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| 42 | 41 | | (B) Receive a payment or withdraw contributions from the 1 |
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| 43 | 42 | | alternate retirement plan for the period of covered employment. 2 |
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| 44 | 43 | | (2) The Arkansas Public Employees' Retirement System shall not 3 |
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| 45 | 44 | | credit service for retirement eligibility under this subsection until: 4 |
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| 46 | 45 | | (A) The member provides documentation to the Arkansas 5 |
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| 47 | 46 | | Public Employees' Retirement System from the covered employer and the 6 |
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| 48 | 47 | | alternate retirement plan that verifies the conditions in subdivision (f)(1) 7 |
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| 49 | 48 | | of this section; and 8 |
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| 50 | 49 | | (B) The Executive Director of the Arkansas Public 9 |
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| 51 | 50 | | Employees' Retirement System determines that there is sufficient 10 |
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| 52 | 51 | | documentation and that all other requirements are met to credit service from 11 |
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| 53 | 52 | | the alternate retirement plan. 12 |
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| 54 | 53 | | 13 |
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| 55 | 54 | | 14 |
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