Resolutions

RESOLUTION NO. 2008-28

A RESOLUTION TO INCREASE BENEFITS OF RETIRED FIREFIGHTERS AND SURVIVING SPOUSES, CURRENT AND FUTURE, AND TO OBTAIN ACTUARIAL SERVICES FROM THE OFFICE OF THE ARKANSAS FIRE AND POLICE PENSION REVIEW BOARD.

WHEREAS, the Elkins' City Council has been presented with a proposal from the City ofElkins Fireman's Pension Board of Trustees to increase benefits and to obtain actuarial services.

BE IT HEREBY RESOLVED BY THE ELKINS' CITY COUNCIL, That: SECTION 1: The actuarial services be obtained for the pension funds of the City of Elkins' Firemen's Pension Fund from the office of the Arkansas Fire and Police Pension Review Board and that the costs of such services be paid from funds in the Pension Fund. SECTION 2: That the benefits payable to current and future retirants and surviving spouses be increased by $50.00 per month per retiree (surviving spouse) or to the nearest $5.00 increment below $50.00 that will qualify. SECTION 3: That the increases will take effect with benefits payable for the month of February, 2009.

PASSED AND APPROVED this 6th day of November, 2008.