State Codes and Statutes

Statutes > Arkansas > Title-24 > Chapter-7 > Subchapter-2 > 24-7-208

24-7-208. Benefit enhancements -- Restrictions.

(a) No benefit enhancement provided for by this act shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization.

(b) No benefit enhancement provided for by this act 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-7 > Subchapter-2 > 24-7-208

24-7-208. Benefit enhancements -- Restrictions.

(a) No benefit enhancement provided for by this act shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization.

(b) No benefit enhancement provided for by this act 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.