13656I
2
RESOLUTION NO. 13,656
3 A RESOLUTION TO APPROVE, PURSUANT TO ACT 1736 OF 2003, AN
4 OPTION TO CONTINUE TO PAY SURVIVOR BENEFITS TO SPOUSES
5 WHO REMARRY AFTER THEY BEGIN RECEIVING BENEFITS
6 UNDER THE POLICEMEN'S PENSION AND RELIEF FUND PLAN
7 PURSUANT TO ARKANSAS CODE ANNOTATED § 24 -11 -105; AND FOR
8 OTHER PURPOSES.
9
10 WHEREAS, Act 1736 of 2003 provides that the Board of Trustees of the Policemen's Pension and
11 Relief Fund of the City of Little Rock may elect to continue to pay survivor benefits to spouses who
12 remarry after they begin receiving benefits under the plan; and,
13 WHEREAS, said option is conditioned upon approval by a majority vote of the governing body of
14 the sponsoring municipality and the Board of Trustees of the Policemen's Relief and Pension Fund; and,
15 WHEREAS, at their December 20, 2012, meeting, the Board of Trustees of the Policemen's Pension
16 and Relief Fund approved referral of this option to the Board of Directors.
17 WHEREAS, Board of Directors has considered the potential impact the benefit increase;
18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK, ARKANSAS:
20 Section 1. Pursuant to Act 1736 of 2003, the Board of Directors hereby approves the option to
21 continue to pay survivor benefits to spouses who remarry after they begin receiving benefits under the
22 plan.
23 Section 2. The Board has reviewed the potential impact to the fund and has determined that such
24 action is likely to not negatively impact the actuarial soundness of the pension fund. (See letter from PRB
25 attached)
26 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
27 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
28 adjudication shall not affect the remaining portions of the resolution, which shall remain in full force and
29 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
30 resolution.
31 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
32 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
33 ADOPTED: March 5, 2013
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I ATTEST•
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4 *OA ty Clerk
5 TO LEGAL FORM:
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8 Thomas M. Carpenter, ity Attor y
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[Page 2 of 21
APPROVED:
Mark Stodola, Mayor