# Ark. Code Ann. § 24-7-733: Limitation on benefits

> Arkansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-733

## Section

- **Citation:** Ark. Code Ann. § 24-7-733
- **Heading:** Limitation on benefits
- **Jurisdiction:** Arkansas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AR Code / Title 24 / Chapter 7 / Subchapter 7 / Section 24-7-733

## Text

(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. (b) For purposes of determining compliance with the Internal Revenue Code, 26 U.S.C. § 415 , "compensation" is defined as set forth in United States Treasury Regulation, 26 C.F.R. § 1.415-2(d)(2) , as it existed on January 1, 2009, and includes any amount that is not includible in the gross income of the member under the Internal Revenue Code, 26 U.S.C. § 132(f)(4) , as it existed on January 1, 2011. Amended by Act 2023, No. 107,§ 56, eff. 7/1/2023. Amended by Act 2015, No. 301,§ 9, eff. 3/4/2015. Acts 2001, No. 155, § 4; 2005, No. 71, § 4; 2009, No. 1202, § 1; 2011, No. 45, § 18.

(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.

(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.

(b) For purposes of determining compliance with the Internal Revenue Code, 26 U.S.C. § 415 , "compensation" is defined as set forth in United States Treasury Regulation, 26 C.F.R. § 1.415-2(d)(2) , as it existed on January 1, 2009, and includes any amount that is not includible in the gross income of the member under the Internal Revenue Code, 26 U.S.C. § 132(f)(4) , as it existed on January 1, 2011.

Amended by Act 2023, No. 107,§ 56, eff. 7/1/2023.

Amended by Act 2015, No. 301,§ 9, eff. 3/4/2015.

Acts 2001, No. 155, § 4; 2005, No. 71, § 4; 2009, No. 1202, § 1; 2011, No. 45, § 18.

## Nearby sections

- [Ark. Code Ann. § 24-7-701 Voluntary retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-701.md)
- [Ark. Code Ann. § 24-7-702 Early voluntary retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-702.md)
- [Ark. Code Ann. § 24-7-704 Disability retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-704.md)
- [Ark. Code Ann. § 24-7-705 Life annuity](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-705.md)
- [Ark. Code Ann. § 24-7-706 Annuity options](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-706.md)
- [Ark. Code Ann. § 24-7-707 Deferred retirement](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-707.md)
- [Ark. Code Ann. § 24-7-708 Employment of retired members by covered employers](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-708.md)
- [Ark. Code Ann. § 24-7-709 Disposition of retiree contributions - Residue](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-709.md)
- [Ark. Code Ann. § 24-7-710 Survivor annuity benefits](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-710.md)
- [Ark. Code Ann. § 24-7-711 Refund of member contributions upon termination](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-711.md)
- [Ark. Code Ann. § 24-7-712 Determination of benefit program](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-712.md)
- [Ark. Code Ann. § 24-7-713 Retirement annuity - Simple cost of living adjustment and monthly benefit stipend - Definition](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-713.md)
- [Ark. Code Ann. § 24-7-714 Increase in monthly benefits - Acts 1979, No. 655, and Acts 1981, No. 885](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-714.md)
- [Ark. Code Ann. § 24-7-715 Benefit rights not subject to legal process - Definition](https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-715.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T24_C7_S7_S24-7-733. Check the current official text before relying on it. Not legal advice.