(a) No benefit enhancement provided for by this chapter shall be implemented if it would cause the Arkansas Teacher Retirement System's unfunded actuarial accrued liabilities to exceed an eighteen-year amortization.(b) No benefit enhancement provided for by this chapter shall be implemented by the system if the system 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.Amended by Act 2021, No. 279,§ 5, eff. 7/1/2021.Amended by Act 2019, No. 427,§ 6, eff. 7/1/2019.Acts 1997, No. 1137, § 5.
Arkansas Legal Code