§ 24-11-413 - Moneys added to fund -- Contributions. - Arkansas Statutes

24-11-413. Moneys added to fund -- Contributions.

(a) There shall be added to the policemen's pension and relief fund the following moneys:

(1) All forfeitures and fines imposed upon any member of the police department by way of discipline;

(2) All money given or donated to the fund;

(3) All money deducted from the salary of any member of the police department on account of absence or loss of time;

(4) All rewards paid for any purpose;

(5) Ten percent (10%) of all fines and forfeitures, not including court costs, collected by the county or city official, agency, or department designated pursuant to 16-13-709 as primarily responsible for the collection of fines assessed in the district courts of this state for violation of ordinances or state law that pursuant to law would be deposited in the city general fund and are not designated by law as payable to the county or state agencies or entities; and

(6) (A) Six percent (6%) of the monthly salary of each member of the department, to be deducted each month by the city and immediately paid to the board of trustees of the policemen's pension and relief fund.

(B) However, the monthly deduction shall be four percent (4%) for police officers contributing to social security unless increased, but not to exceed six percent (6%), by the majority vote of the contributing members of a police department covered by social security.

(b) A pension and relief fund that has assigned administrative responsibility for the fund to the Arkansas Local Police and Fire Retirement System under 24-11-406 continues to be eligible to collect and deposit the amounts under subsection (a) of this section as contributions.