reglab/housing_qa huggingface dataset:
AR Code § 24-11-204 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-204. General financial objective of plan

 (a) The general financial objective of each plan shall be to establish and receive contributions, expressed as percentages of active employee payroll or, in the case of volunteer fire department pension plans, expressed in dollar amounts, which will remain approximately level from year to year and which will not have to be increased for future generations of citizens.  (b) More specifically, contributions received each year shall be sufficient both:  (1) To fully cover the costs of benefit commitments being made to employees for their service being rendered in each year; and  (2) To make a level payment which, if paid annually over a reasonable period of future years, will fully cover the unfunded costs of benefit commitments for service previously rendered.
AR Code § 24-11-206 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-206. Annual financial report

 (a) Each plan shall cause to be prepared an annual financial report following the close of each fiscal year. The financial report shall contain at least the following information:  (1) A summary of the benefits available to covered persons; and  (2) The accounting information specified in § 24-11-207.    (b) The annual financial report shall be filed with the Executive Director of the Arkansas Fire and Police Pension Review Board.
AR Code § 24-11-207 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-207. Annual financial report — Duty of board of trustees

 (a)  (1) The board of trustees of each plan shall annually cause a financial report to be prepared covering each plan fiscal year.  (2) The annual financial report shall be prepared at the direction of the board of trustees and in accordance with reporting procedures established by the Arkansas Fire and Police Pension Review Board.    (b) Each annual financial report shall include at least the following:  (1)  (A) The plan's revenues and expenditures during the year.  (B) The revenues shall include at least the annual total for each of the following items:  (i) Employee contributions;  (ii) Employer contributions from the state;  (iii) Employer contributions, other;  (iv) Investment income:  (a) Interest and dividends;  (b) Gain or loss on sales;  (c) Other (specify); and  (d) The total of subdivisions (b)(1)(B)(i)-(iii) of this section;    (v) The change in unrealized gain or loss from the previous year;  (vi) Other (specify); and  (vii) The total of subdivisions (b)(1)(B)(i)-(vi) of this section.    (C) The expenditures shall include at least the annual total for each of the following items:  (i) Refunds of employee contributions;  (ii) Benefits paid;  (iii) Administrative expenses;  (iv) Other (specify); and  (v) The total of subdivisions (b)(1)(C)(i)-(iv) of this section.    (D) The difference between revenues and expenditures is the change in plan reserve assets for the year; and    (2)  (A) The plan reserve assets.  (B) The reserve assets at year's end shall include at least the total for each of the following items:  (i) Cash and bank checking accounts, noninterest-earning;  (ii) Bank deposits, interest-earning;  (iii) Savings and loan deposits, interest-earning;  (iv) Other cash equivalents, maturing in one (1) year or less;  (v) United States Government securities;  (vi) Non-United States Government securities;  (vii) Mortgages;  (viii) Corporate bonds;  (ix) Corporate common and preferred stock;  (x) Other (specify); and  (xi) The total of subdivisions (b)(2)(B)(i)-(x) of this section.    (C) For actuarial valuation purposes, the assets will be valued on the method determined by the Arkansas Fire and Police Pension Review Board in consultation with its actuary.      (c) The individual who prepares the annual financial reports and the chair of the board of trustees shall certify that the information contained in the report is an accurate statement of these activities and was prepared in accordance with the provisions of this subchapter and by using the same method of accounting used in previous years.
AR Code § 24-11-208 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-208. Administration of underfunded plans

 (a) The purpose of this section is to provide a method for the funding of benefits in certain underfunded plans. Some of the municipal fire and police pension funds established under §§ 14-52-106, 24-11-401 — 24-11-403, 24-11-405 — 24-11-413, 24-11-416, 24-11-417, 24-11-422, 24-11-423, 24-11-425, 24-11-428 — 24-11-430, 24-11-801 — 24-11-807, 24-11-809, 24-11-813 — 24-11-815, and 24-11-818 — 24-11-820, may run out of funds before all of the promised benefits have been paid to their members, retirants, and beneficiaries.  (b)  (1) Annually, in conjunction with the actuarial valuations required by § 24-11-205, the Arkansas Fire and Police Pension Review Board shall identify those plans that are projected to deplete their assets within ten (10) years after the valuation date.  (2) A plan so identified shall be declared a projected insolvent fund.    (c) The Arkansas Fire and Police Pension Review Board shall notify the board of trustees of each projected insolvent fund of its funded status and the options that are available to the fund to protect the benefits of its members, retirants, and beneficiaries.
AR Code § 24-11-211 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-211. Arkansas Policemen's Pension Supplement Program

 (a)  (1) There is created the Arkansas Policemen's Pension Supplement Program, to be administered by the Arkansas Fire and Police Pension Review Board.  (2) As used in this section, “retired police officers” includes:  (A) Police officers who are retired from active service; and  (B) Police officers who remain actively employed while participating in the Arkansas Police Officers' Deferred Retirement Option Plan under a policemen's pension and relief fund.      (b)  (1) The Policemen's Pension Supplement Program Fund is created to provide a state fund to provide financial assistance to certain retired police officers and their survivors who are receiving pensions from policemen's pension and relief funds.  (2) The Policemen's Pension Supplement Program Fund shall be funded by that portion of those unallocated premium taxes levied on insurers for the support of police retirement programs that is transferred to the control of the board under § 24-11-215(c).    (c)  (1) The board shall administer the program and make the payments called for under the program, including formulating necessary rules, procedures, and forms.  (2) The board may retain one percent (1%) of the funds transferred for administrative expenses of the program.    (d) Retired police officers and their survivors are eligible for the pension supplement under this program as follows:  (1) A retired police officer or a survivor receiving retirement benefits from a local policemen's pension and relief fund of less than four hundred dollars ($400) per month shall receive a supplement under the program in an amount equivalent to raise his or her total benefits plus the supplement to four hundred dollars ($400) per month or the amount in subdivision (d)(2) of this section, whichever is greater; and  (2) A retired police officer or a survivor currently receiving retirement benefits from a local policemen's pension and relief fund of four hundred dollars ($400) or more per month shall receive a supplement under the program of fifty dollars ($50.00) per month.    (e) The payment shall be treated for all purposes as a supplement to the retirement benefits received by the person.  (f) On or after July 1 of each fiscal year following the board's payments required by subsection (e) of this section, the board shall pay to the State Treasury the amounts transferred to the board under § 24-11-215(c) that exceed the amounts the board is required to pay under the program.  (g)  (1) The program is effective July 1, 1999.  (2) The first payments may be made under the program beginning July 31, 1999, and the first transfer under § 24-11-215(c) shall occur on July 25, 1999, and on each July 25 thereafter.
AR Code § 24-11-212 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-212. Future Supplement Fund

 (a) A Future Supplement Fund is created for the purpose of providing cost-of-living assistance and minimum-benefit-amount assistance to policemen's pension and relief funds and firemen's relief and pension funds.  (b) The Future Supplement Fund shall be administered by the Arkansas Fire and Police Pension Review Board.  (c) Each year the Future Supplement Fund shall receive moneys from the premium tax allocation under § 24-11-214 based on the total of the amounts listed in subdivision (d)(1) of this section.  (d)  (1) Beginning on June 30, 2019, and continuing on June 30 of each following year, the Future Supplement Fund may distribute to local policemen's pension and relief funds and local firemen's relief and pension funds to pay retired members, beneficiaries, or members of a deferred retirement option plan the following:  (A) Two thousand two hundred and forty dollars ($2,240) to each retired member, beneficiary, or member of the deferred retirement option plan of a policemen's pension and relief fund;  (B) One thousand six hundred and twenty dollars ($1,620) to each retired member, beneficiary, or member of the deferred retirement option plan who was a paid member of a firemen's relief and pension fund; and  (C) Three hundred dollars ($300) to each retired member or beneficiary who was a volunteer member of a firemen's relief and pension fund.    (2) Beginning on June 30, 2020, and continuing each following year, the amounts listed in subdivision (d)(1) of this section shall be increased by a two-and-five-tenths-percent compound cost-of-living adjustment.  (3) Beginning on June 30, 2020, and continuing each following year, the amount distributed to a paid member of the firemen's relief and pension fund shall be increased in seven (7) installments until the amount, beginning on June 30, 2026, is equal to the amount distributed to each member of the policemen's pension and relief fund.    (e) At the time that there are no longer any members covered by local policemen's pension and relief funds and local firemen's relief and pension funds, any remainder of the Future Supplement Fund shall be transferred to the Arkansas Local Police and Fire Retirement System to be used solely by a covered employer to defray the covered employer's employer contribution costs to the system.  (f) The Arkansas Fire and Police Pension Review Board may use an amount allocated in previous years that has not been distributed for the Future Supplement Fund to:  (1) Ensure the distribution of an amount listed in subdivision (d)(1) of this section; and  (2) Help offset a reduction described in § 24-11-215.
AR Code § 24-11-217 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-217. Additional allocation for certain underfunded plans

 (a) An additional allocation for certain underfunded plans as described in this section is created.  (b) The allocation shall be based on fifteen percent (15%) of the actuarial cost under § 24-11-214 and shall be available for certain policemen's pension and relief funds and firemen's relief and pension funds, including the portion of the actuarial cost for policemen's pension and relief funds and firemen's relief and pension funds that are administered by the Arkansas Local Police and Fire Retirement System.  (c) The policemen's pension and relief funds and firemen's relief and pension funds shall qualify for the additional allocation after approval of the Arkansas Fire and Police Pension Review Board and after meeting the following criteria:  (1) The policemen's pension and relief fund or the firemen's relief and pension fund is in compliance with all applicable laws and rules; and  (2) The policemen's pension and relief fund or the firemen's relief and pension fund shall receive employer contributions other than premium tax allocations that are at least eighty percent (80%) of the actuarial cost under § 24-11-214 during the calendar year before an allocation.    (d) An amount that is not distributed due to a policemen's pension and relief fund's or firemen's relief and pension fund's not meeting the requirements of subsection (c) of this section shall be retained and used to supplement the amounts needed for future years when the reductions under subsection (e) of this section apply.  (e) The amounts provided under this allocation are subject to the limits under § 24-11-215.
AR Code § 24-11-301 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 3 - Police Pension and Relief Funds Generally|§ 24-11-301. Appropriation of tax revenues from foreign insurers

 (a)  (1) Sixty-six and two-thirds percent (662/3%) of the total tax revenues derived from premium taxes paid to the State of Arkansas by alien and foreign insurance companies upon premiums collected by the insurance companies upon insurance contracts written on motor vehicles, the licensed addresses of which are qualified cities or towns wherein the motor vehicles are insured against the perils of physical damage or the owner or operators of the motor vehicles are insured against legal liability arising out of the use, ownership, or operation of the motor vehicles, is appropriated and set aside for the:  (A) Use and benefit of all duly qualified police officers' pension and relief funds;  (B) Administrative and actuarial expenses of the Arkansas Fire and Police Pension Review Board; and  (C) Arkansas Policemen's Pension Supplement Program.    (2) The premium taxes collected in this subsection shall be placed in a fund combined with the premium taxes collected pursuant to § 24-11-809. The combined fund shall be entitled the “Firemen's and Police Officers' Pension and Relief Fund”.    (b) The amount of the tax revenues attributable to the fire peril of physical damage insurance shall not be included.
AR Code § 24-11-401 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 4 - Police Pension and Relief Funds — Cities of the First Class|§ 24-11-401. Applicability

 This subchapter shall not apply to any city that had a policemen's pension and relief fund on June 10, 1937.
AR Code § 24-11-402 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 4 - Police Pension and Relief Funds — Cities of the First Class|§ 24-11-402. Vote to effect subchapter

 (a) The provisions of this subchapter shall be suspended and inoperative in any city affected by the provisions of this subchapter until made available by a vote favorable thereto of the majority of qualified electors of the cities participating in any election on the question and held at a special election in accordance with § 7-11-201 et seq. for the purpose of voting on the question.  (b) The election may be held in connection with the first general city election following the passage and approval of this subchapter, but the failure to submit at that city or other election shall not defeat the right of submission at any subsequent election.  (c) Upon filing with the county board of election commissioners not later than seventy (70) days before the date of the election the petition signed by twenty (20) or more qualified electors of the city affected and praying that the question of policemen's pension be submitted, it shall be the duty of the county board of election commissioners to place the question upon the ballot.  (d) In the event that for any reason the question of policemen's pension was not voted upon in the next general city election after June 10, 1937, the question may be submitted at a special election in accordance with § 7-11-201 et seq. held in the city as provided in this section.  (e) The question on the ballot shall be as follows:    “FOR Policemen's Pension AGAINST Policemen's Pension   Click to view form.
AR Code § 24-11-403 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 4 - Police Pension and Relief Funds — Cities of the First Class|§ 24-11-403. Creation of fund — Tax levy

 (a) Annually, a tax not to exceed one (1) mill on the dollar of all taxable property in any cities or towns in this state is levied as a fund for pensioned and superannuated members of the police department, for the surviving spouses and minor children or dependent parents of deceased members of the police department, and to relieve the members in case of temporary disability.  (b) This fund shall be known as the “policemen's pension and relief fund” and shall be collected as other taxes are collected and shall be turned over to the board of trustees of the policemen's pension and relief fund, as provided in this section.  (c) In those cities which do not have a policemen's pension and relief fund but which cover their police officers under the Arkansas Local Police and Fire Retirement System, the tax, once approved by a majority of those voting on the question, shall be collected annually as other taxes are collected and shall be turned over to each city to be applied to each city's account in that system, in such manner and amounts as determined by the board of trustees of that system.
AR Code § 24-11-407 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 4 - Police Pension and Relief Funds — Cities of the First Class|§ 24-11-407. List of retired police officers

 (a) There shall be kept in the office of the board of trustees by the secretary a book known as the list of retired police officers.  (b) This book shall give the full and complete history and record of action of the board of trustees in retiring any and all persons under this subchapter.  (c) The record shall give the name, date of joining the department, date of retirement and reason thereof, and the date and finding of the physician of each examination made of disabled members of the department retired under the provisions of this subchapter.
AR Code § 24-11-408 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 4 - Police Pension and Relief Funds — Cities of the First Class|§ 24-11-408. Treasurer as custodian of fund

 (a) The treasurer shall be the custodian of the pension fund and shall keep his or her books and accounts concerning the funds in such manner as may be prescribed by the board.  (b) The books and accounts shall be subject to the inspection of any member of the board.  (c)  (1) Within ten (10) days after his or her selection, the treasurer shall execute a bond to the board of trustees with good and sufficient securities, in such penal sum as the board shall direct, conditioned for the faithful performance of the duties of his or her office and that, on the expiration or retirement of his or her term of office, he or she shall surrender and deliver to his or her successor all unexpended moneys and all property which may have come into his or her hands as treasurer of the fund.  (2) The bond shall be filed in the office of the board of trustees, and, in case of a breach of the bond, suit may be brought on the bond in the name of the board or in the name of any person or persons injured by the breach.
AR Code § 24-11-409 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 4 - Police Pension and Relief Funds — Cities of the First Class|§ 24-11-409. Deposit of moneys

 The board shall deposit all moneys in the bank selected as the fiscal agent of the city in which it is located, but only if the moneys draw the same rate of interest as the city receives on its deposits. Otherwise, the board shall make its own selection of the bank.
AR Code § 24-11-410 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 4 - Police Pension and Relief Funds — Cities of the First Class|§ 24-11-410. Investment

 (a) The board of trustees of the policemen's pension and relief fund shall have the power to draw sums from its treasury, only upon warrants signed by the chair of the board of trustees of the policemen's pension and relief fund and countersigned by the policemen's pension and relief fund, to invest in the name of the board in interest-bearing bonds of the United States, of the State of Arkansas, or of the city in which the board is located, in a local government joint investment trust pursuant to the Local Government Joint Investment Trust Act, § 19-8-301 et seq., in the Arkansas Local Police and Fire Retirement System, or in savings and loan associations duly established and authorized to do business in this state.  (b) Except as provided in subsection (c) of this section, all securities shall be deposited with the treasurer of the board of trustees of the policemen's pension and relief fund and shall be subject to the order of the board.  (c)  (1) In those policemen's pension and relief funds in which assets exceed one hundred thousand dollars ($100,000), the board may employ:  (A) An investment advisor as defined in § 24-10-402(a)(2)(A)(ii) to invest the assets, subject to the terms, conditions, limitations, and restrictions imposed by law upon the Arkansas Local Police and Fire Retirement System, as provided by § 24-10-401 et seq.; and  (B) A trustee or custodian to hold the assets.    (2) Investments shall not be limited to interest-bearing bonds.  (3) The total amount of fees paid for investment advisors, investment advisory services, investment educational services, trustee services, custodial and administrative services, and investment management services when the managers are required to perform security trades on a best execution basis shall be:  (A) Limited to no more than three percent (3%) annually of the first five hundred thousand dollars ($500,000) of plan assets, plus no more than two percent (2%) annually of the next five hundred thousand dollars ($500,000) of plan assets, plus no more than one percent (1%) annually of plan assets over one million dollars ($1,000,000); and  (B) Clearly stated, in total, on all monthly, quarterly, and annual statements prepared for the board.      (d) A decision on whether to invest, not invest, or withdraw from investment moneys provided for the policemen's pension and relief fund shall not be based on a consideration that the location of the investment, fund, company, or any other type of investment vehicle is in the State of Israel.