§ 24-5-131 - Limitation on benefit enhancement of Acts 1997, No. 1089. - Arkansas Statutes

24-5-131. Limitation on benefit enhancement of Acts 1997, No. 1089.

No benefit enhancement provided for by 24-5-116 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by 24-5-116 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.