Arkansas Statutes
§ 24-8-225 — Limitation on benefit enhancement - Acts 1997, No. 926
Arkansas·Title 24
(a)No benefit enhancement provided for by § 24-8-214 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 § 24-8-214 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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Arkansas § 24-8-225 (Limitation on benefit enhancement - Acts 1997, No. 926) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1997, No. 926.Acts 1997, No. 926, § 2.
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