§ 24-7-1313. Limitation on benefit enhancement -- Acts 1997, No. 953

AR Code § 24-7-1313 (2018) (N/A)
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(a) No benefit enhancement provided for by § 24-7-1306 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization.

(b) No benefit enhancement provided for by § 24-7-1306 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by § 24-1-101 et seq.