Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/45-37-123.151.htm |
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Depth: | 0 singles |
Size: | 1,205 bytes |
Modified: | 2019-12-18 11:18:16 |
Categories: | -None- |
Title: | 45-37-123.151 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 45-37-123.151 Benefit enhancements. (a) Specifically, but not in limitation of the pension board's authority to amend the plan as set forth in Section 45-37-123.150, the pension board may amend the plan to increase or enhance member benefits by cost-of-living increase, lump sum payment, or in any other form or manner as the pension board may prescribe, provided that such benefit increases or enhancements have been: (1) Certified in a written opinion by a competent actuary that the trust fund and the anticipated receipts and liabilities are sufficient to pay for the increase or enhancement; and (2) Set forth in written rules and regulations adopted by the pension board. (b) In no event shall a member be entitled to any benefit increase or enhancement, including any cost-of-living increase. (Act 2013-415, p. 1586, §2:7.2; Act 2019-243, §1.) |