HB1203

House Bill 1203 amends the Arkansas Code regarding the retirement benefits of mayors in cities of the first class. The bill clarifies that a mayor may count previous or subsequent years of service as an employee or elected official for the same city toward their mayoral retirement credit. It establishes specific conditions for these credits, including a rate of one year of retirement credit for every two years of prior service, subject to maximum caps based on the mayor's age and length of service. Furthermore, the bill specifies that service used for this mayoral retirement credit cannot be applied toward another retirement plan offered by the city or provided by law. Finally, the legislation includes a provision to prevent the duplication of retirement benefits by prohibiting a mayor from receiving retirement benefits from another state-authorized plan for the same period of service.