Highland changing police retirement plans

(Source: KAIT)
(Source: KAIT)
(Source: KAIT)
(Source: KAIT)

HIGHLAND, AR (KAIT) - The city of Highland plans to make a change to their police department in order to help bring their benefits up to standards with other cities.

As part of the 2018 budget, the police officer's retirement plans will switch from Arkansas Diamond to LOPFI (Local Police and Fire Retirement System).

Right now, the current plan pays only three percent of the officer's gross salary per year, or around $1,200.

The new LOPFI program will pay around 23.5% of the officer's salary and, according to Highland Police Chief Shane Russell, the new plan will help get experienced officers to the city if they have an opening.

"Whenever you offer this job to somebody, you're most likely going to get somebody who's just wanting to get into law enforcement because people that have any kind of experience, you know ten, 12 years of experience, is not going to step into somewhere where they don't have the retirement they've been building on for that many years," Russell said.

According to Russell, the first year will be expensive for the city to pay into the new plan.

However, beginning in 2019, the state helps pay for roughly half of the plan thanks to a home insurance turnback tax.

Copyright 2017 KAIT. All rights reserved.

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