You will actually want to use an array of hashes. Parallel arrays are notoriously error-prone, so avoid them whenever possible.

open FH, 'file.name'
    or die "Cannot open 'file.name' for reading: $!\n";

my @items;
while (<FH>) {
    chomp;
    my @line = split;

    # Remove "#" and "STANDARD"
    shift @line;
    shift @line;

    # I assume the function name is the last item in the list and has 
+no spaces in it
    my $function = pop @line;

    push @items, {
        function => $function,
        description => join( ' ', @line ),
    };
}

close FH;

foreach my $item (@items) {
    # $item->{description} is the description
    # $item->{function} is the function name
}
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That will even keep them in the order found in file.name

Now, if you need to sort them, do so as such:

# If sorting ascending asciibetically.
my @sorted_items = sort { $a->{description} cmp $b->{description} } @i
+tems;
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