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45-37A-52.228
Section 45-37A-52.228 Survivor's benefits. (a) Effective July 1, 2002, in the event
of the death of a retiree or participant who, on the date of his or her death was eligible
for voluntary retirement under Section 45-37A-51.220, there may be payable a monthly
survivor's benefit equal to 60 percent of the monthly retirement benefit which the retiree
was receiving or was entitled to receive prior to his or her death or which the participant
would have been entitled to receive had he or she retired under Section 45-37A-51.220
on the day preceding his or her death; notwithstanding anything to the contrary, the survivor's
benefit may be increased pursuant to Section 45-37A-51.242. In the event any survivor
is being paid an amount in excess of 60 percent of the retiree's monthly benefit on May 1,
2006, such survivor's benefits shall not be decreased. (b)(1) Effective July 1, 2002, upon
the death of any retiree or participant who at the time of his or her death was not eligible
for voluntary...
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45-37A-51.224
Section 45-37A-51.224 Involuntary retirement. (a) In the event a participant shall be
involuntarily retired after having completed 20 or more years of credited service prior to
attaining the age of 60 years, such participant shall be entitled to a monthly retirement
benefit equal to the product of the final average salary multiplied by the applicable percentage
rate determined at the date of termination, multiplied by such participant's years of credited
service. Should the participant be involuntarily retired prior to attaining age 60 his or
her entitlement to the monthly retirement benefit, at this retirement date, shall additionally
require that within 60 days of the involuntary retirement the agency governing tenure of service
of city employees certify in writing to the board that such employee has not contributed by
his or her own fault or misconduct to the separation from service. Should such certification
not be made within the prescribed time, the monthly retirement benefit...
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45-37A-51.284
Section 45-37A-51.284 Actuarial assumptions. (a) Effective date. Except as provided
by the Pension Benefit Guaranty Corporation (PBGC) and the Internal Revenue Service, the limitations
of this section shall first apply in determining the amount payable to a participant
having an annuity starting date in a fiscal year beginning on or after January 1, 2008. (b)
Applicable interest rate. For purposes of the fund's provisions relating to the calculation
of the present value of a benefit payment that is subject to § 417(e), Internal Revenue Code,
as well as any other fund provision referring directly or indirectly to the applicable interest
rate or applicable mortality table used for purposes of § 417(e), Internal Revenue Code,
any provision prescribing the use of the annual rate of interest on 30-year United States
Treasury securities shall be implemented by instead using the rate of interest determined
by applicable interest rate described by § 417(e), Internal Revenue Code, after its...
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45-8A-22.123
Section 45-8A-22.123 Minimum distribution requirements. (a) In General. Benefit payments
under the plan must begin by the "required beginning date," defined as April 1 of
the calendar year following the later of: (1) The calendar year in which the participant attains
age 70 1/2, or (2) The calendar year in which the participant terminates active employment.
The participant's entire interest in the trust must be distributed, beginning no later than
the "required beginning date," over the life of the participant or the lives of
the participant and a designated beneficiary, or over a period not extending beyond the life
expectancy of the participant or the participant and designated beneficiary. (b) Participant
Dies Before Entire Interest Is Distributed. (1) Distributions Have Begun. When a participant
dies after distribution of benefits has begun, the remaining portion of the participant's
interest shall be distributed at least as rapidly as under the method of distributions prior
to the...
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36-27-21.7
Section 36-27-21.7 Cost-of-living increases to certain retirees whose retirement is
based on employer participation under Section 36-27-6; amounts; election by employer;
construction of section. (a) There is hereby provided, to each pensioner, annuitant
and retiree of any retirement plan other than the Employees' Retirement System whose retirement
is based upon service to an employer participating in the Employees' Retirement System under
Section 36-27-6, and whose effective date of retirement is prior to October 1, 1989,
a cost-of-living increase of ten percent of his current monthly benefit; provided, however,
such increase shall not be less than $20.00 nor more than $50.00 per month. (b) There is hereby
provided, to each pensioner whose retirement is based upon service to an employer participating
in the Employees' Retirement System under Section 36-27-6, but who retired prior to
such employer's participation in the said Employees' Retirement System and who receives a
monthly...
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16-25-3
Section 16-25-3 Membership; membership credit for service in armed forces of United
States; deferred benefits. (a) The membership of the retirement system shall consist of the
following: All persons who shall become teachers after the date of establishment shall become
members of the retirement system as a condition of their employment. Any person who is a teacher
on the date of establishment shall become a member as of that date unless within a period
of 90 days next following such teacher shall file with the Board of Control on a form prescribed
by the board a notice of his election not to be covered in the membership of the system and
a duly executed waiver of all present and prospective benefits which would otherwise inure
to him on account of his participation in the retirement system. (b) A teacher in service
on October 1, 1973, whose membership in the retirement system was contingent on his own election
and who elected not to become a member may thereafter apply for and be...
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45-37A-51.237
Section 45-37A-51.237 Payment of benefits during period of reemployment. (a) Anything
herein to the contrary notwithstanding and except as provided in subsection (b), no retirement
benefits of whatever kind or description shall be payable to any former participant for any
period during which the former participant is employed by the city, is due a salary from the
city, or has been paid a salary by the city, except persons elected by the people to serve
the city shall have the option of continuing to receive either retirement benefits or the
compensation for the office to which that person is elected, or that person may choose to
receive both such benefits and compensation. (b)(1) For the purposes of this section,
"retired public safety officer" means a retired law enforcement officer who was
employed by the city or a retired firefighter who was employed by the city. (2) Notwithstanding
subsection (a), a retired public safety officer who was employed by the city may be subsequently...
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45-8A-22.102
Section 45-8A-22.102 Powers and duties of the retirement board.. (a) The retirement
board shall be responsible for the general administration and proper operation of the plan
and shall administer the plan for the exclusive benefit of participants and their beneficiaries,
subject to the terms of the plan. The retirement board shall administer the plan in accordance
with its terms and shall have the power and discretion to construe the terms of the plan and
this subpart and to determine all questions arising in connection with the administration,
interpretation, and application of the plan. Any such determination by the retirement board
shall be conclusive and binding upon all persons. (1) The retirement board shall have all
powers necessary or appropriate to accomplish the retirement board's duties under the plan,
including, but not limited to, the following: a. To determine all questions relating to the
eligibility of a sworn police officer or a sworn firefighter of the City of...
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45-8A-22.114
Section 45-8A-22.114 Normal retirement age. (a) Effective with respect to retirements
that occur before October 1, 2012, the retirement board shall retire from service any participant
who has attained age 60 years, and such participant shall be entitled to receive a monthly
benefit from the plan equal to three percent of the average of his or her monthly compensation
for the last three years preceding his or her retirement multiplied by the number of years
of continuous service; provided, however, credit shall not be counted for continuous service
in excess of 30 years. (b) Effective with respect to retirements that occur on and after October
1, 2012, the retirement board shall retire from service any participant who has attained age
65 years, and such participant shall become fully vested and entitled to receive a monthly
benefit from the plan calculated in accordance with Section 45-8A-22.113(b). (Act 2012-484,
p. 1349, §15.)...
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12-17-4
Section 12-17-4 State assumption of retirement and other employee benefits. (a) Retirement.
- Employees of the circuit and district court, hereinafter "eligible employees,"
shall, on the date they join or joined the state personnel system, be covered by the Employees'
Retirement System of Alabama; provided, that an employee who on that date is covered by a
local retirement system may by written notice filed within 30 days prior to the date the employee
joins the state personnel system, with the Comptroller, elect to retain instead membership
in the local retirement plan; provided further, that any employee joining the state personnel
system on or before October 1, 1977, shall have the right to make such election within 30
days prior to October 1, 1977. Upon election of an employee, the Comptroller shall pay to
such local government plans the employer retirement contribution attributable to employees
electing to retain local plan membership; provided, that such employer contribution...
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