AR SB804

Amends Arkansas Code § 21-5-411(a)(1) to make health insurance coverage continuation optional ("may continue") rather than mandatory ("shall be allowed to") for retired state and public school employees participating in specified retirement systems.

Adds a new limitation under subdivision (a)(1)(A)(v) restricting eligibility for employees of alternate retirement plans at qualifying institutions unless the institution's governing body elects to allow continued coverage and participation.

Modifies Arkansas Code § 21-5-411(a)(3)(A) to make the 10-year creditable service requirement subject to the new limitations on alternate retirement plan participants, changing eligibility language from "shall qualify" to "qualifies."

Specifies that employees in the Arkansas Public Employees' Retirement System, Arkansas Teacher Retirement System, Arkansas State Highway Employees' Retirement System, and Arkansas Judicial Retirement System may continue coverage if retired and drawing benefits.