AR SB135

Amends Arkansas Code § 24-2-402 to clarify reciprocal service credit requirements for public employees in state retirement systems.

Allows active members of reciprocal systems to receive credit for previous public employment upon payment of prescribed employee and employer contributions based on rates in effect during that previous employment, plus regular interest.

Provides eligible state retirement system members with 1 year of service credit for every 5 years of full-time employment at a state college or university if they have at least 10 years of actual service in the current system and meet additional employment history requirements.

Specifically credits employment before 1985 at state colleges or universities that did not offer mandatory employer contributions to alternative retirement plans.

Declares an emergency to take effect immediately upon Governor approval, allowing the Arkansas Teacher Retirement System to provide service credit for employees whose employers did not offer mandatory contributions before 1985.