Section 45-49A-63.131 – Indemnification.
Section 45-49A-63.131 Indemnification. The members of the board and the officers, employees, and agents of the city shall be indemnified against any and all liabilities arising by reason of any act, or failure to act, in relation to the plan or the fund including, without limitation, expenses reasonably incurred in the defense of any claim […]
Section 45-49A-63.132 – City Attorney to Represent Board.
Section 45-49A-63.132 City attorney to represent board. It shall be the duty of the city attorney to give advice to the board in all matters pertaining to the duties of the board whenever requested to do so; to represent and defend the board and its individual members in all suits and actions at law or […]
Section 45-49A-63.133 – Expenses of Administration.
Section 45-49A-63.133 Expenses of administration. Except as may be otherwise specified in this plan, all expenses that arise in connection with the administration of the plan including, but not limited to, the compensation and other expenses and charges of any counsel, accountant, specialist, or other person who has been retained by the board in connection […]
Section 45-49A-63.134 – Deferred Retirement Option Plan.
Section 45-49A-63.134 Deferred retirement option plan. The board may create and administer a deferred retirement option plan (DROP Plan) on such terms and conditions as the board may prescribe; however, any DROP Plan created by the board shall be at no cost and with no liability to the city. The plan’s actuary shall certify to […]
Section 45-49A-63.151 – Exclusive Benefit Rule.
Section 45-49A-63.151 Exclusive benefit rule. Except as otherwise provided in the plan, no part of the corpus or income of the fund shall be used for, or diverted to, purposes other than for the exclusive benefit of members and beneficiaries entitled to benefits under the plan and paying plan expenses not otherwise paid by the […]
Section 45-49A-63.120 – Appointment of Board.
Section 45-49A-63.120 Appointment of board. (a) The board is responsible for the general administration of the plan and for carrying out the plan. The board shall consist of (i) three members to be elected from the uniformed officers in the city’s police department by the uniformed officers in that department, (ii) three members to be […]
Section 45-49A-63.170 – Amendment of Plan.
Section 45-49A-63.170 Amendment of plan. (a) The board, with approval by a majority vote of the city council or like governing body of the city, reserves the right at any time and from time to time, and retroactively if deemed necessary or appropriate, to amend in whole or in part any or all of the […]
Section 45-49A-63.60 – Retirement.
Section 45-49A-63.60 Retirement. (a) Except as provided in Section 45-49A-63.66, a member who first became a uniformed officer prior to March 28, 1990, and who terminates his or her employment as a uniformed officer on or after he or she has 20 years of service, the last 10 years of service being without a break […]
Section 45-49A-63.63 – Death.
Section 45-49A-63.63 Death. (a) If a member eligible for a retirement benefit under Section 45-49A-63.60 or a member eligible for a benefit under subsection (a) of Section 45-49A-63.62 dies prior to his or her annuity starting date, his or her eligible family members shall receive a benefit equal to the greater of (i) the benefit […]
Section 45-49A-63.64 – Cost-of-Living Increases.
Section 45-49A-63.64 Cost-of-living increases. The board, after consultation with its actuary and other advisors, may from time to time grant such cost-of-living increases in the benefits being paid to all retired members, or certain classes of retired members, as the board deems prudent, but only if such increases would have no material adverse impact on […]