AR HB1019

Restricts retirement service credit for local elected public officials first elected on or after July 1, 2011, to one (1) year of credited service for every year worked instead of two (2) years.

Allows local elected public officials who served in an elected position before July 1, 2011, to continue receiving two (2) times the regular rate for credited service.

Requires at least five (5) years of actual service to meet retirement eligibility requirements under Arkansas Code §§ 24-4-601 and 24-4-510 through 24-4-512, and for eligibility under § 24-4-608.

Exempts the Governor, elected state constitutional officers, members of the General Assembly, and elected public officials under the state division of the system from these restrictions.

Declares an emergency effective July 1, 2011, citing economic downturn, portfolio losses in the Arkansas Public Employees' Retirement System, and the need to align elected officials' service credits with other employees receiving one (1) year of service per year worked.