§ 31-31-101 — Legislative declaration

The general assembly hereby declares
that the establishment of police officers' and firefighters' pension plans in this
state is a matter of statewide concern that affects the public safety and general
welfare, that the ability of pension funds to pay earned benefits to present and
future members is a necessary corollary to the establishment of pension plans, and
that statewide pension plans establishing pension benefits that can be fully funded
with local moneys will permit the continuation of pension plans for police officers
and firefighters in this state. In addition, the general assembly declares that any
pension plan must be actuarially sound in order to assure the security of the
pension system and that this article is enacted to provide for the stability and
security of police officers' and firefighters' pension plans in this state. The general
assembly further declares that state moneys provided to municipalities, fire
protection districts, and county improvement districts do not constitute a
continuing obligation of the state to participate in the ongoing normal costs of
pension plan benefits, except for state funding of death and disability benefits as
specified in this article, but are provided in recognition that the local governments
are currently burdened with financial obligations relating to pensions in excess of
their present financial capacities. It is the intent of the general assembly in
providing state moneys to assist the local governments that state participation
decrease annually, terminating at the earliest possible date.

Legislative History

Source: L. 96: Entire article added with relocations, p. 893, � 1, effective May 23.