HomeMy WebLinkAbout2002-02-27 MinutesMINUTES OF A MEETING
OF THE
POLICE PENSION AND RELIEF FUND BOARD
FEBRUARY 27, 2002
A special meeting of the Fayetteville Police Pension and Relief Fund Board was held on February
27, 2002 at 1:30 p.m. in room 326 of the City Administration Building located at 113 West
Mountain Street, Fayetteville, Arkansas.
PRESENT: Randy Bradley, Hollis Spencer, Dr. Mashburn, Jerry Friend, Eldon Roberts, City Clerk
Heather Woodruff, and City Attorney Kit Williams.
RICHARD WATSON
Mr. Roberts stated this was a special meeting called to retire Police Chief Richard Watson.
Mr. Spencer moved to approve the retirement of Chief Watson as of March 1, 2002. Mr. Bradley
seconded.
Mr. Roberts stated the Police Chief (Hollis Spencer) that hired Richard Watson was now serving on
the board. In response to questions, he stated the legislature last year passed an amendment which
allowed a retiree 1.25% of his final salary for every year that they worked over twenty-five years
and it was only payable at age sixty. It was also a non -spousal benefit. Chief Watson had worked
ten years past the twenty-five years. That was 12.5% of his final salary. The other benefit, $1200,
was twenty dollars a month for every year that they stay from twenty to twenty-five. For all the
years past twenty-five they receive 1.25% of their final salary.
The motion carried unanimously.
The meeting adjourned at 1:40 p.m.