AR SB79

Noncontributory members with service in both the Arkansas Public Employees' Retirement System (APERS) and State Police Retirement System who erroneously retired from both systems when changing employment between them may file an affidavit to correct their retirement date to their last date of employment

Affidavits to correct erroneous retirement must be submitted within 6 months of retiring from final covered employment, or within 6 months of the act's effective date for those already retired

APERS members in the Deferred Retirement Option Plan may now change their retirement annuity selection one time after their initial election by contacting the board and submitting an affidavit

Members who change their retirement annuity selection must pay the system a lump sum covering any difference in benefits received between their initial and subsequent annuity selections within 6 months

The selection of deferred retirement option and time of retirement deferral remain irrevocable, but the retirement annuity selection is no longer permanently irrevocable under the amended law