§ 24-5-132 - Limitation on benefit enhancement of Acts 1997, No. 1067. - Arkansas Statutes

24-5-132. Limitation on benefit enhancement of Acts 1997, No. 1067.

No benefit enhancement provided for by 24-5-118 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 24-5-118 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.