2010 Arkansas Code
Title 24 - Retirement And Pensions
Chapter 11 - Local Police And Fire Pension And Relief Funds
Subchapter 8 - Firemen's Relief and Pension Funds
§ 24-11-823 - Increase in benefits for certain persons retired due to total permanent disability.

24-11-823. Increase in benefits for certain persons retired due to total permanent disability.

(a) The board of trustees of any municipal firemen's pension and relief fund may increase benefits to persons who have retired or may retire from the fire department of the municipality because of total and permanent disability, and who qualify or may qualify for monthly benefits of less than five hundred dollars ($500).

(b) The benefits of any such person shall not be increased to more than five hundred dollars ($500) per month, and the increase shall be subject to the following conditions:

(1) The board of trustees shall adopt a resolution approved by not less than three-fourths (3/4) of the membership of the board outlining the proposed increase in benefits;

(2) The board shall obtain an evaluation by an actuary stating that the fund will continue to be actuarially sound notwithstanding the effects of the resolution; and

(3) A copy of the resolution adopted by the board and a copy of the actuarial evaluation approving the resolution shall be filed with the circuit clerk of the county wherein the fire department is located, with the Arkansas Fire and Police Pension Review Board, and, if the fire department is located within the incorporated boundaries of a city, with the city clerk of that city.