§ 24-6-414 - Maximum benefit limitation. - Arkansas Statutes

24-6-414. Maximum benefit limitation.

(a) Notwithstanding any other provisions of this chapter, benefits paid under the provisions of this chapter shall not exceed the limitations of Section 415 of the Internal Revenue Code that are applicable to governmental retirement plans.

(b) (1) The Board of Trustees of the State Police Retirement System is hereby empowered and authorized to promulgate all necessary rules and regulations to implement the limitations of Section 415 of the Internal Revenue Code.

(2) The rules and regulations adopted by the board pursuant to this section shall be amended to reflect any changes in the content or application of Section 415 of the Internal Revenue Code enacted by Congress or promulgated by the Internal Revenue Service.