§ 24-10-619 - Limitation on benefits granted by Acts 1997, No. 1136. - Arkansas Statutes

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24-10-619. Limitation on benefits granted by Acts 1997, No. 1136.

No benefit enhancement provided for by 24-10-604, 24-10-605, and 24-10-611 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by 24-10-604, 24-10-605, and 24-10-611 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by 24-1-101 et seq.

State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-10 > Subchapter-6 > 24-10-619

24-10-619. Limitation on benefits granted by Acts 1997, No. 1136.

No benefit enhancement provided for by 24-10-604, 24-10-605, and 24-10-611 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by 24-10-604, 24-10-605, and 24-10-611 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by 24-1-101 et seq.

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State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-10 > Subchapter-6 > 24-10-619

24-10-619. Limitation on benefits granted by Acts 1997, No. 1136.

No benefit enhancement provided for by 24-10-604, 24-10-605, and 24-10-611 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by 24-10-604, 24-10-605, and 24-10-611 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by 24-1-101 et seq.