AR SB210

Amends Arkansas Code § 24-7-205(b) to clarify procedures for correcting errors and collecting amounts owed to the Arkansas Teacher Retirement System.

Allows members with unpaid member contribution balances to elect cancellation of contributory service credit for that fiscal year instead of paying the balance due.

Requires the system to return any member contributions for the affected fiscal year without interest if contributory service credit is canceled.

Mandates the system provide notice to benefit participants or employers before making benefit adjustments or pursuing collection actions, including description of the dispute process.

Modifies waiver provisions to allow the board to waive adjustments or repayment (except member contributions) if the error was not intentional and recovery would result in manifest injustice.