(a) The general administration and the responsibility for the proper operation of the Arkansas Local Police and Fire Retirement System and for making effective the provisions of this chapter are vested in a board of trustees of seven (7) persons as follows:
(1) One (1) person to be appointed member trustee by the Governor after consulting the Arkansas Professional Fire Fighters Association and the Arkansas State Firefighters Association and subject to confirmation by the Senate;
(2) One (1) person to be appointed member trustee by the Governor after consulting the Arkansas Municipal Police Association and the Arkansas Fraternal Order of Police and subject to confirmation by the Senate;
(3) Two (2) persons to be appointed employer trustees by the Governor after consulting the Arkansas Municipal League and subject to confirmation by the Senate;
(4) One (1) person who is not a member, retirant, or beneficiary of the system and who is not a member of the governing body of any political subdivision to be appointed trustee by the Governor from a list of persons submitted to him or her by the Joint Committee on Public Retirement and Social Security Programs;
(5) One (1) person who is a retired municipal police officer to be appointed a member trustee by the Governor from a list of two (2) persons submitted to him or her by the cochairs of the Joint Committee on Public Retirement and Social Security Programs; and
(6) One (1) person who is a retired municipal firefighter to be appointed a member trustee by the Governor from a list of two (2) persons submitted to him or her by the cochairs of the Joint Committee on Public Retirement and Social Security Programs.
(b)
(1) The normal term of office for a trustee shall be four (4) years from January 1 next following his or her election or appointment, as the case may be.
(2) Each trustee shall continue to serve as trustee until a successor is appointed and has qualified.
(c) Trustees elected or appointed as member trustees shall be retired or active members of the system, but:
(1) Not more than one (1) member trustee shall be employed or formerly employed by any one (1) employer;
(2) Not more than two (2) member trustees shall be police officers or retired police officers; and
(3) Not more than two (2) member trustees shall be firefighters or retired firefighters.
(d) Trustees appointed as employer trustees shall be elected or appointed officials of employers with management experience and shall not be members of the system, but not more than one (1) employer trustee shall be from any one (1) employer.