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the Batesville Appeals Commission. Councilmember Bryant seconded and all <br /> voted for. Mr. Lilly's term will expire 9/8/2022. <br /> D) FIRE PENSION BOARD DISCUSSION <br /> Mayor Elumbaugh asked the City Clerk to give the council a little background on <br /> the old Firemen's Pension Fund. Ms. Johnston said the old Firemen's Pension <br /> Fund was established many years ago for the purpose of providing for retired <br /> firemen. The Firemen's Pension Board, originally consisted of two active <br /> firemen, 2 retired firemen and the City Clerk and Mayor. In 1985, LOPFI made it <br /> mandatory that all firemen hired after 1985 will have to enroll into their program. <br /> Because there are no active members left in the old plan, the current board is <br /> made up of 4 retired firemen and the Clerk and Mayor. The fund pays out <br /> monthly checks to 16 retired firemen or their spouses for total of$284,368.08 per <br /> year. Currently, the retirees or their surviving spouse, are receiving 75% of their <br /> pay at retirement. When the Board voted on the pay increase the Pension Fund <br /> was actuarially sound. Mrs. Johnston said there is not one absolute cause for <br /> the current unfunded state of the fund. Recently Mr. Jody Carreiro with Osborn, <br /> Carreiro & Associates, Inc. and Mr. David Clark with the Arkansas Fire and <br /> Police Pension Review Board (PRB) came and gave the Pension Board <br /> members and City Council options on how to make the fund solvent. One of the <br /> recommendations is to up the Fire Pension mileage from .4 mills to 1.0. That <br /> would increase their annual revenue approximately $94,000.00 which according <br /> to Mr. Carreior's report would make the plan actuarially sound in 15 years. They <br /> can also move their plan into LOPFI for the same cost. Retired firemen Larry <br />