1. The local board of trustees must adopt a resolution to raise benefits to the new amount. The resolution must be signed by 3/4's of the membership of the board (at least 6 of 7 trustees must sign.)

A certified copy of the minutes of the board meeting at which the resolution was adopted must accompany the resolution. The minutes must reflect who voted for the benefit increase resolution and who voted against it. The certification shall be by the PRB's director.

2. The resolution must state how much the increase would be and to whom it would apply, current retirants only; future retirants only; current and future retirants; current surviving spouses and/or children; future surviving spouses and/or children; current and future surviving spouses (Police pension funds may include dependent parents.)

3. The completed resolution should be mailed to:

Arkansas Fire and Police Pension Review Board

620 W. 3^rd, Suite 200

Little Rock, AR 72201-2223

4. A determination will be made by PRB staff that, based on all available financial information on the fund, the benefit increase request should be processed. The pension fund will be invoiced for the actuarial valuation and the pension fund should return a check promptly for that amount to the above address. No actuarial work will be processed until payment is received.

5. Once the check has been received, it will be submitted to the actuary who will begin work on the benefit increase valuation.

6. When the valuation results are received, the Executive Director shall certify to the local board whether or not the increased benefit can be given. If denied, the local board may appeal the findings of the staff to the PRB, upon a written request to do so. Benefit increases, which are approved, must also be accepted by the PRB

The Executive Director may make benefit increases retroactive to the date of the local board resolution requesting the increase, or to a later date, depending on the circumstances of the increase.

7. When an increase in granted, a copy of the resolution, actuarial valuation, and Executive Director's certification must be filed by the local board of trustees with the circuit and city clerks of the county and city in which the Local Plan is located.