§ 24-11-405. Board of trustees
(a) The board of trustees of the policemen’s pension and relief fund shall consist of seven (7) members as follows: (1) The chief executive officer of the city, who shall be chair of the board; (2) The city treasurer, who shall be treasurer of the fund; (3) (A) (i) Five (5) active or retired members […]
§ 24-11-406. Administration of small funds by Arkansas Local Police and Fire Retirement System
(a) (1) In those local police pension and relief funds that cover fewer than five (5) members, a local board of trustees may no longer exist, and the fund shall be designated as inactive by the employer. (2) As used in this section, “member” includes an active member or a retired member of the fund […]
§ 24-11-407. List of retired police officers
(a) There shall be kept in the office of the board of trustees by the secretary a book known as the list of retired police officers. (b) This book shall give the full and complete history and record of action of the board of trustees in retiring any and all persons under this subchapter. (c) […]
§ 24-11-408. Treasurer as custodian of fund
(a) The treasurer shall be the custodian of the pension fund and shall keep his or her books and accounts concerning the funds in such manner as may be prescribed by the board. (b) The books and accounts shall be subject to the inspection of any member of the board. (c) (1) Within ten (10) […]
§ 24-11-409. Deposit of moneys
The board shall deposit all moneys in the bank selected as the fiscal agent of the city in which it is located, but only if the moneys draw the same rate of interest as the city receives on its deposits. Otherwise, the board shall make its own selection of the bank.
§ 24-11-410. Investment
(a) The board of trustees of the policemen’s pension and relief fund shall have the power to draw sums from its treasury, only upon warrants signed by the chair of the board of trustees of the policemen’s pension and relief fund and countersigned by the policemen’s pension and relief fund, to invest in the name […]
§ 24-11-411. Payments
(a) Except as provided in subsection (c) of this section, all moneys paid from the pension and relief fund shall be paid by the treasurer only upon warrants signed by the chair and countersigned by the secretary thereof. (b) Except as provided in subsection (c) of this section, no warrant shall be drawn except by […]
§ 24-11-412. Report on condition of fund
The board of trustees shall report to the council or city commission the condition of the pension fund on the first regular meeting in January of each year.
§ 24-11-413. Moneys added to fund — Contributions
(a) There shall be added to the policemen’s pension and relief fund the following moneys: (1) All forfeitures and fines imposed upon any member of the police department by way of discipline; (2) All money given or donated to the fund; (3) All money deducted from the salary of any member of the police department […]
§ 24-11-104. Rules
The Department of Finance and Administration is authorized to promulgate such reasonable rules as are necessary to carry out the provisions of §§ 24-11-301 and 24-11-809.