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AN ORDINANCE INCREASING THE DEATH BENEFIT AMOUNT PAYABLE TO AN ELIGIBLE SURVIVOR OF A DECEASED MEMBER OF THE JONESBORO LOCAL POLICE PENSION FUND
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WHEREAS the City Council authorizes an increase in the current death benefit amount under Arkansas Code Annotated 24-11-430 of sixty-five hundred dollars ($6,500.00) to ten thousand dollars ($10,000) to an eligible survivor of the JONESBORO Local Police Pension Fund. This increased amount shall be payable only to the survivor of a retired member who passed away on or after September 1, 2024, and under the administrative procedures of the Arkansas Local Police and Fire Retirement System.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS:
SECTION 1. The City Council recognizes that the Arkansas Local Police and Fire Retirement System (LOPFI) is the administrator of the JONESBORO Local Police Pension Fund (Local Plan). Therefore, the Chief Administrative Officer is hereby authorized to provide LOPFI an official copy of this approved Ordinance authorizing the increased death benefit amount of $10,000 (gross amount) as a benefit provision for this Local Plan.
SECTION 2. 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 re-numbered and re-lettered as necessary to accomplish such intention.
SECTION 3. Due to the need to meet the deadline set by LOPFI to implement this increase for the local law enforcement plan, an emergency is hereby declared to exist and this Ordinance shall be in full force from and after the date of its passage and approval.