Arkansas Statutes
§ 24-4-1109 — Maximum benefit limitation
Arkansas·Title 24
(a)Benefits paid under this chapter shall not exceed the limitations of 26 U.S.C. § 415 of the Internal Revenue Code that are applicable to governmental retirement plans.
(b)(1) The Board of Trustees of the Arkansas Public Employees' Retirement System is authorized to promulgate all rules necessary to implement the limitations of 26 U.S.C. § 415 of the Internal Revenue Code.
(2)The rules adopted by the board under this section shall be amended to reflect any changes in the content or application of 26 U.S.C. § 415 of the Internal Revenue Code enacted by the United States Congress or promulgated by the Internal Revenue Service.
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Related
§ 415
26 U.S.C. § 415
Legislative History
Acts 2005, No. 2084, § 4.
Nearby Sections
15
§ 24-1-101
Assets and income for retirement systems§ 24-1-102
Annual valuation§ 24-1-103
Change of contribution rate§ 24-1-105
Liabilities exceeding thirty-year amortization period - Legislated benefit enhancement prohibited§ 24-1-106
Benefit enhancements§ 24-1-201
Declaration of policy§ 24-1-202
Definitions§ 24-1-203
Rules§ 24-1-206
Agents§ 24-1-207
Contributions - State employees