A rotational coupling device includes an armature configured for coupling to a shaft for rotation with the shaft about an axis, but axially movable relative to the shaft. An electromagnet assembly is disposed on one side of the armature and fixed against rotation. A collar is disposed on the opposite side of the armature. The collar is configured for rotation with the shaft, but fixed against axial movement relative to the shaft and includes a permanent magnet. When a current having a first polarity is provided to the electromagnet assembly, the armature moves in one axial direction into engagement with a member of the coupling device to transmit a torque between the member and the armature. The permanent magnet urges the armature in the opposite axial direction to disengage the armature from the member when the current is not provided to the electromagnet assembly.