(a) A benefit enhancement provided for by this act shall not be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed an eighteen-year amortization.
(b) A benefit enhancement provided for by this act shall not 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 6 - Arkansas Teacher Retirement System — Credited Service
§ 24-7-601. Credited service generally
§ 24-7-602. Military service credit
§ 24-7-603. Out-of-state service — Definition
§ 24-7-605. Service in General Assembly
§ 24-7-606. Service for leave of absence to obtain advanced degree
§ 24-7-607. Private school service — Definition
§ 24-7-608. Limitation on benefit enhancement
§ 24-7-610. Credit for service in National Guard and armed forces reserve — Definition