AR SB104

Amends Arkansas Code § 24-5-101(3) to change the "average compensation" calculation period for the Arkansas State Highway Employees' Retirement System from 36 consecutive months to 60 consecutive months of creditable service.

Limits the definition of "state employer" to the Arkansas Department of Transportation or its predecessor, the Arkansas State Highway and Transportation Department, removing the broader reference to § 24-2-401.

Provides a grandfathering provision for active members on June 30, 2021, allowing their average compensation to be calculated based on the highest 36-month period, calculated as of June 30, 2021.

Declares an emergency effective July 1, 2021, citing the need to conform the retirement system with sound public pension policy and to align implementation with the fiscal year.