AR SB174

Amends the definition of "normal retirement age" under the Arkansas Teacher Retirement System to allow retirement at age 60 with at least 38 years of combined credited service (in addition to existing age 65 with 5 years of service option).

Changes the effective date for termination of active membership rules from July 1, 2011 to September 1, 2021.

Members with fewer than 38 years of credited service may not be terminated within 6 calendar months of their retirement date if they become re-employed with a covered employer and have not reached normal retirement age.

Members with 38 or more years of combined credited service may not be terminated within 1 calendar month of their retirement date if they become re-employed with a covered employer and have not reached normal retirement age.

Effective September 1, 2021.