As used in this subchapter, unless the context otherwise requires:
(1) “Accountant” means an accountant who is authorized by Arkansas law to practice public accounting in Arkansas;
(2) “Actuary” means an actuary:
(A) Who is a member of the American Academy of Actuaries or who meets other criteria for qualification which may be established by the General Assembly; and
(B) Who is experienced in retirement plan financing; and
(3) “Plan” means any Arkansas municipal policemen's pension and relief fund or any Arkansas municipal firemen's relief and pension fund, including relief and pension funds of volunteer fire departments.