AR HB1186

Changes the waiting period before retirees can be rehired by covered employers under the Arkansas Public Employees' Retirement System from 180 days to one (1) year, effective July 1, 2011.

Modifies the Arkansas Teacher Retirement System termination requirements to extend the rehiring waiting period to one (1) year for members retiring on or after July 1, 2011 who have 38 or more years of credited service.

Includes transitional provisions: members retiring between July 1, 2009 and June 30, 2011 have the one-year requirement waived and may return after 180 days; members retiring before July 1, 2009 may return after 30 days.

Requires members who fail to meet the separation requirement to forfeit or repay all retirement benefits received during the waiting period and suspends benefits until compliance is achieved.

Declares an emergency effective date of July 1, 2011, citing concerns that rehiring retired employees prevents job opportunities for other Arkansans and promotion opportunities for current state employees.