HB1176 Summary

• Amends Arkansas Code § 24-7-1001(a) to clarify that employees of specified state universities (University of Arkansas at Monticello, Arkansas State University-Jonesboro, Arkansas Tech University, Arkansas State University-Beebe, Southern Arkansas University, University of Central Arkansas, Henderson State University, and University of Arkansas-Pine Bluff) who are not covered by another state-supported retirement plan shall be members of the Arkansas Public Employees' Retirement System.

• Modifies Arkansas Code § 24-7-1002(a) to standardize retirement system membership for employees of Arkansas State University, University of Central Arkansas, Henderson State University, Arkansas Tech University, Southern Arkansas University, and state-supported community colleges (excluding University of Arkansas System and Arkansas State University System campuses) employed after March 19, 1983.

• Repeals Arkansas Code §§ 24-7-1003 through 24-7-1007, which contained specific retirement provisions for University of Arkansas system employees and former agricultural colleges.

• Creates new Arkansas Code § 24-7-1009 allowing employees of University of Arkansas System campuses to participate in retirement plans sponsored by the University of Arkansas System or a public employee retirement plan as permitted by Board of Trustees policy.

• Becomes effective July 1, 2013, with an emergency clause citing the need to align public retirement laws with sound pension policy and the state's fiscal year.