The financial liability of the state, county, city, town, or other political subdivision under a deferred compensation program authorized by this subchapter shall be limited in each instance to:
(1) An amount determined by reference to the value of the annuity contracts which may have been purchased with respect to any employee;
(2) An amount determined by reference to the value of the employee's interest in a trust or custodial account holding mutual funds, in pooled investment funds, or in other investment vehicles purchased on behalf of the employee; and
(3) Any amounts deferred but not paid over to the annuity contracts, trusts, or custodial accounts.
Structure Arkansas Code
Title 21 - Public Officers and Employees
Chapter 5 - Compensation and Benefits
Subchapter 5 - Deferred Compensation
§ 21-5-503. Effect on other benefits
§ 21-5-504. Authority of state or political subdivision
§ 21-5-505. Authority of Department of Finance and Administration
§ 21-5-506. Administration of programs
§ 21-5-507. Payments by administrator
§ 21-5-508. Taxation of deferred income
§ 21-5-510. Liability of state or political subdivision
§ 21-5-511. Automatic enrollment in deferred compensation plan — Definitions