AR SB247

Amends Arkansas Code § 24-4-207(c)(2)(B) to change overpayment recoupment language from "first" to "last" overpayment, requiring Board recoupment only if overpayment is determined more than one year after the last overpayment and results from member, retirant, or beneficiary error.

Amends Arkansas Code § 24-4-301(a)(2)(A)(i)(b) to require General Assembly members with only legislative service to have ten (10) or more years of actual service to be eligible for retirement benefits.

Repeals Arkansas Code §§ 24-4-704, 24-4-705, 24-4-706, 24-4-707, 24-4-710, 24-4-712, 24-4-714, 24-4-726, and 24-4-741, removing obsolete provisions related to General Assembly member retirement benefits, state constitutional officers, Governors, state penitentiary employees, and reciprocal system service credit.

Amends Arkansas Code § 24-4-804(c)(1) to add an exception allowing popularly elected officials to be employed after Deferred Retirement Option Plan participation ceases if the separation period would prevent them from taking or holding office.

Declares an emergency clause making the act effective immediately upon Governor approval, veto period expiration, or veto override to maintain orderly system operations.