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AN ORDINANCE ELECTING COVERAGE FOR ELIGIBLE MEMBERS OF THE JONESBORO FIRE PENSION AND RELIEF FUND UNDER LOPFI AND AUTHORIZING THE CHIEF ADMINISTRATIVE OFFICER TO ENTER INTO AN AGREEMENT WITH LOPFI (NOTE: THIS AGREEMENT WAS AMENDED BY ORD-06:120 ON JULY 6, 2006; ORD-07:28 ON MARCH 6, 2007; ORD-08:080 ON OCTOBER 7, 2008)
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WHEREAS, the Board of Trustees of the Jonesboro Fire Pension and Relief Fund has elected to have its eligible members covered under the Arkansas Local Police and Fire Retirement System (LOPFI) as stated by Resolution dated July, 1997, and that
WHEREAS, said Board of Trustees has by said Resolution requested the City of Jonesboro, Arkansas to act as agent for the administration of its retirement coverage for all its Relief Fund participants under LOPFI.
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: That if accepted by the Arkansas Local Police and Fire Retirement System (LOPFI) , the administration of the retirement program coverage for all Jonesboro Fire Pension and Relief Fund participants shall be transferred to the Arkansas Local Police and Fire Retirement System (LOPFI) pursuant to the authority of Act 364, Acts of Arkansas, 1981, as amended, and including other acts of the State Legislature, provided that such retirement coverage for said Relief Fund participants shall mean the administration of that fund only and 75% of final pay in the Relief Fund's benefit program.
SECTION 2: The Chief Administrative Officer is hereby authorized to enter into an agreement with the Arkansas Local Police and Fire Retirement System (LOPFI) to administer the Jonesboro Firemen's Pension and Relief Fund as stated in Section 1 hereof.
SECTION 3: It is the intent of the City Council and it is hereby ordained that the provisions of this Ordinance shall be codified into the Code of Ordinances of Jonesboro, Arkansas, and the sections thereof may be renumbered and re-lettered as necessary to accomplish such intention.
SECTION 4: That due to the need to consolidate the Jonesboro Fire Pension and Relief Fund with the Arkansas Local Police and Fire Retirement System (LOPFI), and emergency is hereby declared to exist and this ordinance shall be in full force from and after the date of its passage and approval.
PASSED AND ADOPTED this the 2nd day of September, 1997.