Limitation on benefit enhancement - Acts 1997, No. 953

(a) A benefit enhancement provided for by § 24-7-1306 shall not be implemented if it would cause the Arkansas Teacher Retirement System's unfunded actuarial accrued liabilities to exceed an eighteen-year amortization. (b) A benefit enhancement provided for by § 24-7-1306 shall not be implemented by the system until the unfunded actuarial accrued liability is reduced to a level less than an eighteen-year amortization. Amended by Act 2019, No. 427,§ 21, eff. 7/1/2019. Acts 1997, No. 953.Acts 1997, No. 953, § 2. (a) A benefit enhancement provided for by § 24-7-1306 shall not be implemented if it would cause the Arkansas Teacher Retirement System's unfunded actuarial accrued liabilities to exceed an eighteen-year amortization. (b) A benefit enhancement provided for by § 24-7-1306 shall not be implemented by the system until the unfunded actuarial accrued liability is reduced to a level less than an eighteen-year amortization. Amended by Act 2019, No. 427,§ 21, eff. 7/1/2019. Acts 1997, No. 953.Acts 1997, No. 953, § 2.