AR SB41

Extends the termination period for Arkansas Public Employees' Retirement System members with at least two-for-one service credit from 180 days to one (1) year before they can return to employment without rescinding their retirement benefits.

Members with service credit at a rate of two (2) or more years of credited service for each year of actual service may return to covered employment within one year of their effective retirement date without losing retirement status.

Members without enhanced service credit retain the original 180-day termination period requirement.

Declares an emergency clause citing recent economic conditions that have negatively impacted state retirement systems and the need to preserve Arkansas Public Employees' Retirement System assets.

Effective immediately upon Governor approval, passage without veto, or veto override.