AR HB1304

Members, retirees, and designated beneficiaries of the Arkansas Public Employees' Retirement System must file and maintain current contact information including address, phone number, email, and bank information with the system

Unpaid benefits become forfeited to the system's trust assets if the system cannot make payment within 5 years due to inability to contact the recipient using information on file

Establishes a "limitation period" for correcting errors defined as the fiscal year plus the following 4 fiscal years from when the error was discovered or should have been discovered

Overpayments can only be recovered if the recipient is notified within the limitation period, unless the overpayment resulted from intentional nondisclosure, fraud, misrepresentation, or gross negligence

Appeals of annuity adjustments must be filed within 30 days (increased from 20 days) and are subject to administrative hearings under the Arkansas Administrative Procedures Act