Arkansas Code Title 24. Retirement and Pensions § 24-7-733. Limitation on benefits

(a)(1) Notwithstanding the provisions of this subchapter, benefits paid under the Arkansas Teacher Retirement System shall not exceed the limitations of the Internal Revenue Code, 26 U.S.C. § 415, that are applicable to governmental retirement plans, including without limitation the dollar limitations of the Internal Revenue Code, 26 U.S.C. § 415(b)(1)(A).

(2) The annual benefits, as may be increased in subsequent years, that are paid to retirees by the system shall not violate the limitations under the Internal Revenue Code, 26 U.S.C. § 415(b), applicable to the annuity effective date under the Internal Revenue Code, 26 U.S.C. § 415(d), and benefits shall be paid in a manner that protects the tax-qualified status of the system.