AR HB1204

Requires municipalities with populations of 100,000 or more that maintain their own retirement plan to enroll all newly hired employees and newly elected public officials in the Arkansas Public Employees' Retirement System beginning January 1, 2014.

Allows current employees and elected officials in municipal 401(a) or 401(k) plans to elect continued participation in their municipality's plan or to transfer to the Arkansas Public Employees' Retirement System.

Permits transferring employees to purchase service credit from their former municipal retirement plan to transfer into the state system, with a requirement of at least five years of actual service to be eligible for retirement.

Allows rollover of 401(a) and 401(k) plans from municipal employers into the state system in prorated amounts (increments of less than one year) from September 1, 2013 through December 31, 2014.

Requires written notification to the system to elect participation, with the form of notification to be determined acceptable by the system.