Wednesday, August 20, 2014

LOPFI Overview

The Arkansas Local Police and Fire Retirement System (LOPFI) is a statewide retirement system for paid and volunteer police officers and firefighters of political subdivisions in the State of Arkansas. LOPFI was created by Act 364 of the 1981 Arkansas General Assembly and became operative January 1, 1983.

LOPFI policy is established by a 7-member Board of Trustees:  2 trustees who are active members of the system, 1 police officer and 1 firefighter, nominated by their respective employee groups, and appointed by the Governor; 2 employer representatives from governing bodies of participating political subdivisions and appointed by the Governor from a list submitted by the Arkansas Municipal League; 2 retired members, 1 police officer and 1 firefighter, appointed by the Governor from a list provided by the Joint Committee on Public Retirement and Social Security Programs; and 1 citizen who is neither an employee nor employer of the system appointed by the Governor from a list submitted by the Joint Committee on Public Retirement and Social Security Programs. An executive director is appointed by the Board and administers the system in a manner consistent with law and Board Policy. Board meetings are open to the public and approved minutes from their meetings are available on the web site. 

The Board is authorized to formulate and adopt rules to govern the administration of the system.