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RESOLUTION NO.
0
5,581
A RESOLUTION E %PRESSING THE SUPPORT OF THE
BOARD OF DIRECTORS FOR THE POLICEMEN'S PENSION
AND RELIEF FUND.
WHEREAS, the services of its present and former policemen are
vital to the safety and security of the citizens of Little Rock;
and
WHEREAS, a secure pension benefit is a key component of the
City's compensation plan for policemen; and
WHEREAS, funding for the City of Little Rock Policemen's
Pension and Relief Fund has historically been less than the
actuarially calculated amounts required to fund accruing benefits;
and
WHEREAS, the actuarially determined unfunded pension benefit
obligation of the Fund is very large in relation to the assets of
the Fund and a cause of concern to the retirees, beneficiaries and
other active members of the Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. That the Board of Directors will monitor the
funding progress of the Fund as reported to it annually in the
Comprehensive Annual Financial Report for the City of Little Rock,
Arkansas, and request additional reports of the status of the Fund
from its trustees from time to time, should additional information
be desired.
SECTION 2. That the Board of Directors intends to make
available any funds needed to enable the Fund to meet its benefit
obligations, should the Fund be unable to do so, by appropriation
in the annual budget for the City of Little Rock, Arkansas or by
supplemental appropriation, if necessary.
am
• 0
1 ADOPTED: October 1, 1991
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ATTEST:
RO$HIE HANCOCK, CITY CLERK
APPROVED AS TO FORM:
THOMAS M. CARPENTER
CITY ATTORNEY
APPROVED:
u
ARON PRIEST, MAYOR
ME
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