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1 RESOLUTION NO. 11671
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3 A RESOLUTION TO APPROVE, PURSUANT TO ACT 1372 OF
4 2003, THE CONTINUED EMPLOYMENT OF MEMBERS OF
5 THE DEFERRED RETIREMENT OPTION PLAN ( "DROP ") FOR
6 THE LITTLE ROCK FIREMEN'S RELIEF AND PENSION FUND
7 AT THE CONCLUSION OF THE DROP PERIOD; AND FOR
a OTHER PURPOSES.
10 WHEREAS, Act 1372 of 2003 provides that members of the Deferred Retirement
11 Option Plan ( "DROP ") for Fire Pension and Relief Funds may remain employed at the
12 conclusion of the DROP period upon approval by a majority vote of the governing
13 body of the sponsoring municipality after receiving approval for an increase in benefits
14 under Ark. Code Ann. § 24 -11 -102; and
15 WHEREAS, on January 14, 2004, the Board of Trustees of the Little Rock
16 Firemen's Relief and Pension Fund approved a motion to request the Board of Directors
17 to approve the implementation of Act 1372.
18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
19 THE CITY OF LITTLE ROCK, ARKANSAS:
20 Section 1. The Board of Directors hereby approves the continued employment of
21 members of the Little Rock Firemen's Relief and Pension Fund whose participation in
22 the DROP plan has concluded, subject to the requirements of Act 1372 of 2003.
23 Section 2. Findings. The Board has received approval of a benefit increase from
24 the Arkansas Pension Review Board pursuant to Ark. Code Ann. § 24 -11 -102. (See
25 Exhibit A)
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DROP Fire Act 1372
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Section 3. Severability. In the event any title, section, paragraph, item, sentence,
clause, phrase, or word of this resolution is declared or adjudged to be invalid or
unconstitutional, such declaration or adjudication shall not affect the remaining
portions of the resolution, which shall remain in full force and effect as if the portion so
declared or adjudged invalid or unconstitutional was not originally a part of the
resolution.
Section 4. Repealer. All ordinances, resolutions, bylaws, and other matters
inconsistent with this resolution are hereby repealed to the extent of such inconsistency.
ADOPTED: January 20, 2004
11 ATTEST:
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14 Nay Wood, City Clerk
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16 APPROVED AS TO LEGAL FORM:
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19 Thomas M. Carpenter, CiYY Attorney
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APPROVED: �
&
Ji ailey, Mayor
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Re elution
DROP Fire Ad Un