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Ark. Code Ann. § 24-7-1313

Limitation on benefit enhancement — Acts 1997, No. 953

Acts 1997, No. 953, § 2; 2019, No. 427, § 21.

(1) A benefit enhancement provided for by § 24-7-1306 shall not be implemented if it would cause the Arkansas Teacher Retirement System's unfunded actuarial accrued liabilities to exceed an eighteen-year amortization.

(2) A benefit enhancement provided for by § 24-7-1306 shall not be implemented by the system until the unfunded actuarial accrued liability is reduced to a level less than an eighteen-year amortization.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.