Limitation on benefit enhancement of § 24-7-702

  1. Law
  2. Arkansas Code
  3. Retirement And Pensions
  4. Retirement of Employees of Schools and Educational Institutions
  5. Arkansas Teacher Retirement System — Benefits
  6. Limitation on benefit enhancement of § 24-7-702

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  1. (a) A benefit enhancement provided by § 24-7-702 shall not be implemented if it would cause unfunded actuarial accrued liabilities of the Arkansas Teacher Retirement System to exceed an eighteen-year amortization.

  2. (b) If the system's unfunded actuarial accrued liabilities exceed an eighteen-year amortization, a benefit enhancement provided for by § 24-7-702 shall not be implemented 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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