(a) A benefit enhancement provided for by § 24-7-1306 shall not be implemented if it would cause the Arkansas Teacher Retirement System's unfunded actuarial accrued liabilities to exceed an eighteen-year amortization.
(b) A benefit enhancement provided for by § 24-7-1306 shall not be implemented by the system until the unfunded actuarial accrued liability is reduced to a level less than an eighteen-year amortization.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 7 - Retirement of Employees of Schools and Educational Institutions
Subchapter 13 - Teacher Deferred Retirement Option Plan
§ 24-7-1301. Election to participate — Conditions
§ 24-7-1302. Application — Review
§ 24-7-1303. Contributions to Arkansas Teacher Retirement System
§ 24-7-1304. Election of annuity options
§ 24-7-1306. Amount of deposits
§ 24-7-1309. Benefits from Arkansas Teacher Retirement System
§ 24-7-1310. Death of participant
§ 24-7-1311. Term of participation in Teacher Deferred Retirement Option Plan
§ 24-7-1313. Limitation on benefit enhancement — Acts 1997, No. 953
§ 24-7-1315. Duty of board of trustees
§ 24-7-1316. Funding objectives of Teacher Deferred Retirement Option Plan — Cost neutrality