§ 19-5-807 - Maximum contributions. - Arkansas Statutes

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19-5-807. Maximum contributions.

In the event a state agency builds a deficit which would require a contribution rate greater that two percent (2%), the agency shall continue to make contributions at the rate of two percent (2%) until any deficit owed the fund is repaid. In the event an agency's experience rate exceeds two percent (2%) for one (1) full fiscal year, their contribution rate shall be adjusted to equal their experience rate, not to exceed a maximum of five percent (5%). Their contributions shall remain at that level until their experience rate decreases and their accumulated deficit is repaid.

State Codes and Statutes

Statutes > Arkansas > Title-19 > Chapter-5 > Subchapter-8 > 19-5-807

19-5-807. Maximum contributions.

In the event a state agency builds a deficit which would require a contribution rate greater that two percent (2%), the agency shall continue to make contributions at the rate of two percent (2%) until any deficit owed the fund is repaid. In the event an agency's experience rate exceeds two percent (2%) for one (1) full fiscal year, their contribution rate shall be adjusted to equal their experience rate, not to exceed a maximum of five percent (5%). Their contributions shall remain at that level until their experience rate decreases and their accumulated deficit is repaid.

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Statutes > Arkansas > Title-19 > Chapter-5 > Subchapter-8 > 19-5-807

19-5-807. Maximum contributions.

In the event a state agency builds a deficit which would require a contribution rate greater that two percent (2%), the agency shall continue to make contributions at the rate of two percent (2%) until any deficit owed the fund is repaid. In the event an agency's experience rate exceeds two percent (2%) for one (1) full fiscal year, their contribution rate shall be adjusted to equal their experience rate, not to exceed a maximum of five percent (5%). Their contributions shall remain at that level until their experience rate decreases and their accumulated deficit is repaid.