Notice of Rulemaking
Please take notice that the Board of Trustees of the Arkansas Public Employees’ Retirement System (APERS), 124 West Capitol Avenue, Suite 400, Little Rock, AR 72201 has voted to amend the following Official Rules of the Board of Trustees of APERS (last revised December 2019) to comply with Act 518 of 2021 of the Arkansas Legislature and to repeal obsolete language, as follows:
214 DROP Provisions Rule Amendments: The Rule is proposed to be amended to comply with Act 518 of 2021 which increased the number of years for an active member’s participation in the Deferred Retirement Option Plan (DROP) from seven (7) years to ten (10) years and to be consistent with the Bureau of Legislative Research Code style and make non-substantive corrections for grammatical purposes. No other substantive change in DROP provisions has been made other than to increase maximum participation in the DROP.
501 Investment Policy Repeal: Rule 501 is proposed to be repealed in accordance with the full power granted to the Board under Ark. Stat. Ann. § 24-2-601 et seq. APERS’s updates its investment policy annually and makes investment adjustments as needed with the assistance of Board investment consultants hired for such purpose. Thus, the language of Rule 501 is obsolete, outdated, and proposed for repeal in its entirety.