RES NO 06-06-2007 CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. (0 2007
BE IT ENACTED BY THE CITY COUNCIL. FOR THE CITY OF VAN BUREN,
ARKANSAS, A RESOLUTION TO BE ENTITLED:
A RESOLUTION TO AUTHORIZE THE TRANSFER OF
ASSETS FOR AFFECTED VAN BUREN POLICE OFFICERS
FROM THE ARKANSAS PUBLIC EMPLOYEES
RETIREMENT SYSTEM (APERS) TO THE ARKANSAS
LOCAL POLICE AND FIRE RETIREMENT SYSTEM
(LOPFI), TO AUTHORIZE PAYMENT OF THE ACTUARIAL
FEE, AND FOR OTHER PURPOSES.
WHEREAS, the City of Van Buren, Arkansas, is duly incorporated under the laws of the State of
Arkansas, with all powers, authority and duties of a city of the first class; and
WHEREAS, the City of Van Buren wishes to transfer certain eligible present and future employees
who are "Police Officers." as that term is defined under Act 364 of 1981, A.C.A.
§24 -10 -101 et seq., from the Arkansas Public Employees Retirement System
(APERS) to the Arkansas Local Police and Fire Retirement System (LOPFI); and
WHEREAS, the City of Van Buren desires and wishes to authorize the transfer of assets for any
affected officers from APERS to LOPFI, as necessary to move eligible officers from
one system to the other; and
WHEREAS, the City of Van Buren is required to remit payment of twelve hundred dollars and no
cents ($1,200.00) to Gabriel, Roeder, Smith and Company, as an actuarial fee, to
determine the required employer contribution rate to fund the retirement benefits for
any affected officers.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF VAN BUREN,
ARKANSAS, THAT:
Section 1: LOPFI is hereby authorized to transfer assets for affected Van Buren police officers
from APERS to LOPFI, as necessary: and
Section 2: The Mayor and City Clerk are hereby authorized by the City Council for the City of
Van Buren to pay $1,200 for actuarial services, and to take all necessary actions and
execute all documents necessary to effectuate this resolution.
1
IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council, did pass,
approve, and adopt, by a vote of r for and 0 against_ the foregoing Resolution at its
meeting held on the I8`" day of June, 2007.
1
Robe Free I u
ATTESTED: APP' IVE0 S TO *RM:
Barbie Curtis, City Clerk/Treasurer N. O'nal° Mr orney
2