TO AMEND THE LAW CONCERNING ADMINISTRATION OF THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM.

SB 160 (now Act 589) amends Arkansas' public retirement system law to include the Arkansas Development Finance Authority (ADFA) as a participating public employer, meaning ADFA employees will now be covered under the Arkansas Public Employees' Retirement System. It also adds two new members to the retirement system's Board of Trustees: the Secretary of the Department of Shared Administrative Services and the Bank Commissioner. These changes directly affect ADFA employees by extending retirement benefits and adjust board composition to include representatives from state administrative and financial agencies. The bill was enacted into law on April 14, 2025, following passage by both legislative chambers.