§ 2-96. Pension fund; transference and benefit.

Once accepted by the state local police and fire retirement system (LOPFI), the administration of retirement coverage for all city fire pension and relief fund participants shall be transferred to LOPFI under authority of A.C.A. § 24-11-804, provided that such retirement coverage for said pension fund participants shall mean the administration of that fund only and not a change in the pension fund's benefit program, unless the pension fund is actuarially sound and/or a benefit increase is approved by the city. The benefit structure will be 100 percent of final pay as a base benefit for the paid service members and $180.00 base benefit for the volunteer participants.

(Ord. No. 807, § 1, 9-4-2007)