§ 24-1-105 - Liabilities exceeding thirty-year amortization period -- Legislated benefit enhancement prohibited. - Arkansas Statutes

24-1-105. Liabilities exceeding thirty-year amortization period -- Legislated benefit enhancement prohibited.

When any retirement system on or after March 14, 1995, has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years, that system shall not have a legislated benefit enhancement until the unfunded actuarial accrued liability is reduced to a level less than the standards set by this subchapter.