Stricken language would be deleted from and underlined language would be added to present law.

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State of Arkansas

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90th General Assembly

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Regular Session, 2015

As Engrossed:

H2/9/15

A Bill

HOUSE BILL 1216

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By: Representative D. Whitaker

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For An Act To Be Entitled

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AN ACT CONCERNING THE BENEFITS OF LOCAL FIREMEN'S

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RELIEF AND PENSION FUNDS AND LOCAL POLICEMEN'S

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PENSION AND RELIEF FUNDS.

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Subtitle

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CONCERNING THE BENEFITS OF LOCAL

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FIREMEN'S RELIEF AND PENSION FUNDS AND

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LOCAL POLICEMEN'S PENSION AND RELIEF

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FUNDS.

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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:

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SECTION 1.

Arkansas Code Title 24, Chapter 11, Subchapter 8, is

amended to add an additional section to read as follows:

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24-11-835. Reduction of benefits.

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If a local fire or police pension fund established under this chapter

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is determined by the actuary for the Arkansas Fire and Police Pension Review

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Board not to be actuarially sound or to be in substantial risk of ruin before

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all beneficiaries receive their lifetime benefits, the board of trustees of

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the local fire or police pension fund may decrease all payments to all

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eligible beneficiaries by an equal portion to the level recommended by the

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actuary to prevent the assets in the fund from becoming depleted before all

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beneficiaries have received their lifetime benefits.

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/s/D. Whitaker

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*KLC105*

01-30-2015 08:20:17 KLC105