1. (a) Acts 1993, No. 757, and Acts 1993, No. 1004, made the DROP a local option.
2. (b) If the local pension board wishes to make it available to its members, the local pension board must vote to do so.
3. (c) If a local pension board does elect to make the DROP an option, a copy of the board resolution to elect the DROP and a copy of the local pension board's rules to administer the DROP must be filed with the Arkansas Fire and Police Pension Review Board.
4. (d) The local pension board's rules must comply with this subpart.

Codification Notes: “DROP” means deferred retirement option plan.