AR HB1200

Removes the "active member" requirement from Arkansas Code § 24-1-107(b)(1)(B), allowing both active and inactive members of the Arkansas Teacher Retirement System to receive credit for federal service upon payment of the service cost.

Removes the "active member" requirement from Arkansas Code § 24-7-406(e)(1)(B)(iv), enabling inactive members with previous noncontributory credited service to change to contributory credited service by paying the actuarial equivalent of member benefits.

Modifies Arkansas Code § 24-7-602(a)(1) and (2) to extend free military service credit eligibility to inactive members who entered the United States Armed Forces during a federal military draft and obtained an honorable discharge, regardless of whether they have five or more years of credited service.

Declares an emergency effective date of July 1, 2023, to allow the changes to begin on the first day of the fiscal year and enable proper administration of the system.

Approved February 13, 2023.