Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-4-101 — 24-4-111) › Section 24-4-104 - Board of trustees - Creation - Members

(a)
The administration and control of the Arkansas Public Employees' Retirement System shall be vested in a board called the "Board of Trustees of the Arkansas Public Employees' Retirement System".
(b)
The board shall consist of the following members:
(1)
The Auditor of State, the Treasurer of State, and the Secretary of the Department of Finance and Administration shall be ex officio members;
(2)
(A)
Three (3) members who are state employees and three (3) members who are nonstate employees to be appointed by the Governor.
(B)
Each nonstate employee trustee and each state employee trustee shall have at least five (5) continuous years of service with a public employer or employers and shall be a member of the Arkansas Public Employees' Retirement System.
(C)
(i)
No more than one (1) of the three (3) members who are nonstate employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System.
(ii)
No more than one (1) of the three (3) members who are state employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System.
(D)
The three (3) nonstate employee trustees shall consist of at least one (1) currently elected county judge and at least one (1) mayor.
(E)
Subdivisions (b)(2)(B)-(D) of this section do not apply to members appointed under subdivisions (b)(3) and (4) of this section;
(3)
(A)
Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the President Pro Tempore of the Senate.
(B)
One (1) of the members described in subdivision (b)(3)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System; and
(4)
(A)
Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the Speaker of the House of Representatives.
(B)
One (1) of the members described in subdivision (b)(4)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System.
(c)
(1)
The term of office of appointed trustees shall be six (6) years.
(2)
(A)
The Governor shall declare a vacancy on the board when a:
(i)
Nonstate employee trustee leaves the employ of a participating public employer;
(ii)
State employee trustee leaves state employment;
(iii)
Member who is a nonstate employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a nonstate employee trustee on the board; and
(iv)
Member who is a state employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a state employee trustee on the board.
(B)
A vacancy declared under subdivisions (c)(2)(A)(iii) and (iv) of this section shall be for the seat of the newly retired trustee.
(C)
The Governor shall appoint a state employee member or a nonstate employee member to fill the vacancy for the remainder of the unexpired term within thirty (30) days of the date on which the vacancy is declared.
(d)
(1)
Annually, the board shall select from its membership a chair and a vice chair.
(2)
The board shall appoint an executive director who shall be the executive administrative officer of the Arkansas Public Employees' Retirement System and shall also be ex officio secretary of the board, but who shall have no vote on questions before the board and who shall be directly responsible to the board.
(3)
By resolution duly adopted, the board may delegate to the executive director any of the powers and duties vested in or imposed upon it by law.
(4)
Within such limitations as may be contained in legislative appropriations therefor, the executive director, subject to the approval of the board, may employ and fix the compensation of such secretarial, clerical, professional, and other personnel as may be required for the proper administration of the Arkansas Public Employees' Retirement System.
Amended by Act 2023, No. 436,§ 1, eff. 8/1/2023.
Amended by Act 2021, No. 686,§ 1, eff. 7/28/2021.
Amended by Act 2017, No. 311,§ 2, eff. 3/1/2017.
Amended by Act 2017, No. 311,§ 1, eff. 3/1/2017.
Acts 1957, No. 177, § 3; 1959, No. 42, § 3; 1965, No. 153, § 4; 1975, No. 732, § 1; 1985, No. 7, § 1; A.S.A. 1947, § 12-2503.