(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 an eighteen-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 eighteen (18) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by § 24-1-101 et seq.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 7 - Retirement of Employees of Schools and Educational Institutions
Subchapter 2 - Arkansas Teacher Retirement System — General Provisions
§ 24-7-204. Tax status of system assets
§ 24-7-205. Correction of errors
§ 24-7-206. Withholding association membership dues
§ 24-7-207. Increase in benefit amount
§ 24-7-208. Benefit enhancements — Restrictions