25-4-75
Section 25-4-75 Extension of benefit period. (a) Applicability of section. Notwithstanding any other provisions of this chapter, the duration of benefits as provided in Section 25-4-74 shall be extended as provided in this section. (b) Definitions. As used in this section, unless the context clearly requires otherwise, the following terms shall mean: (1) EXTENDED BENEFIT PERIOD. A period which: a. Begins with the third week after a week for which there is a state "on" indicator; and b. Ends with either of the following weeks, whichever occurs later: 1. The third week after the first week for which there is a state "off" indicator; or 2. The thirteenth consecutive week of such period; provided, that no extended benefit period may begin by reason of a state "on" indicator before the fourteenth week following the end of a prior extended benefit period which was in effect with respect to this state. 3. The eligibility period for the payment of extended benefits using the total unemployment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-75.htm - 17K - Match Info - Similar pages
27-36A-9
Section 27-36A-9 Reserve valuation method - Annuity and pure endowment benefits. (a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under Section 408 of the Internal Revenue Code, as now or hereafter amended. (b) Reserves according to the commissioner's annuity reserves method for benefits under annuity or pure endowment contracts, excluding any disability and accidental death benefits in the contracts, shall be the greatest of the respective excesses of the present values, at the date of valuation, of the future guaranteed benefits, including guaranteed nonforfeiture benefits, provided for by the contracts at the end of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-9.htm - 1K - Match Info - Similar pages
45-37A-51.243
Section 45-37A-51.243 Supplemental benefit. (a) In addition to the benefits described herein for normal retirement, ordinary disability, and extraordinary disability, every participant retired from city service or receiving a disability benefit immediately following having been in the city service, which participant did not have active city service after July 1, 1989, did not retire after July 1, 1990, or did not otherwise become eligible for a benefit calculated at 2.25 percent, per year after July 1, 1990, shall have received after three years of retirement or disability under this system an increase in monthly benefit in the amount of one hundred fifty dollars ($150). Present and future surviving spouses or the survivors of the retirees, who are not entitled to the 2.25 percent of the final average salary, shall have received a monthly benefit increase in the amount of the percent of the one hundred fifty dollars ($150) the surviving spouse or the survivor would normally be entitled...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.243.htm - 3K - Match Info - Similar pages
11-40-18
Section 11-40-18 Minimum benefits under certain policemen's and firemen's pension and relief plans. In all Class 1 municipalities, notwithstanding any provision of law to the contrary, any benefit payable on a monthly basis to a participant or retiree under the Policemen's Pension and Relief Plan provided by Act No. 502 of the 1923 Session of the legislature of Alabama, as amended or codified; the Firemen's Pension and Relief Plan provided by Act No. 307 of the 1943 Session of the legislature of Alabama, as amended (General Acts of Alabama of 1943, p. 264); the Limited Policemen's Retirement and Relief System provided by Act No. 470 of the 1955 Regular Session of the legislature of Alabama, as amended (Acts of Alabama of 1955, p. 1067); and Limited Firemen's Pension and Relief System provided by Act No. 217 of the 1966 Special Session of the legislature of Alabama, as amended (Acts of Alabama, Special Session 1966, p. 280) shall not be of an amount less than $400.00 per month, and any...
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36-27-6.5
Section 36-27-6.5 Employers authorized to provide Tier I retirement benefits to Tier II plan members. (a) Any employer participating in the Employees' Retirement System of Alabama pursuant to Section 36-27-6, may, by adoption of a resolution by May 8, 2021, elect to provide to its Tier II plan members the same retirement benefits provided to Tier I plan members. Provided, however, the Employees' Retirement System Board of Control, based on a staff review of the historical compliance with ERS requirements as well as the financial stability of the local government entity, may elect to deny the election authorized herein. The local entity may petition the Board of Control for a reconsideration of its action by May 8, 2021. The election shall be irrevocable and shall be effective at the beginning of the fiscal year following the date the resolution is received by the ERS. (b) Any employer that has not increased the Tier I member contribution rates as provided in Act 2011-676 shall develop...
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45-37A-51.246
Section 45-37A-51.246 Board of health department retirees' supplemental benefit. (a) Effective July 1, 2006, in addition to the benefits described herein for normal retirement, ordinary disability, and extraordinary disability, every participant retired from the health department who has retired under the pension system herein, immediately following having been in the board of health service, or who did not otherwise become eligible for a benefit calculated at 2.5 percent per year after July 1, 2006, any such retiree of the board of health shall receive an increase in the amount of seventy-five dollars ($75) per month; and any survivor of such retiree or participant shall receive an increased monthly benefit based upon the applicable percentage rate of benefit to which the survivor was otherwise entitled determined as of the date of death of such retiree or participant. (b) No benefit shall be granted under this section until an actuarial determination has been made that there are...
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45-8A-22.127
Section 45-8A-22.127 Exclusive use of assets of the trust; vesting; forfeitures. (a) Trust Assets May Not Be Diverted. The assets of the trust shall be held for the exclusive benefit of the participants and their beneficiaries. It shall not be possible for any part of the corpus or income of the trust or any funds contributed thereto to be used for, or diverted to, purposes other than the exclusive benefit of such participants or their beneficiaries, whether by operation or natural termination of the trust, by power of revocation or amendment, by the happening of a contingency, by collateral arrangement, or by other means. No benefits payable as set forth in the plan shall be assignable or be subject to execution, levy, attachment, garnishment, or other legal process. Accordingly, the plan shall not recognize any domestic relations order attempting to provide a participant's benefits, or any portion thereof, to an alternate payee. (b) Vesting. The retirement benefit earned by a...
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45-37-123.109
Section 45-37-123.109 Participant distribution notice. (a) The pension board shall during the 30 to 180 day period before making an eligible rollover distribution, provide a written explanation to the recipient: (1) Of the provisions under which the recipient may have the distribution directly transferred to an eligible retirement plan and that the automatic distribution by direct transfer applies to certain distributions in accordance with § 401(a)(31)(B), Internal Revenue Code; (2) Of the provision which requires the withholding of tax on the distribution if it is not directly transferred to an eligible retirement plan; (3) Of the provisions under which the distribution shall not be subject to tax if transferred to an eligible retirement plan within 60 days after the date on which the recipient received the distribution; (4) If applicable, of the provisions of §§ 402(d) and 402(e), Internal Revenue Code; (5) Of the provisions under which distributions from the eligible retirement...
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45-49A-63.63
Section 45-49A-63.63 Death. (a) If a member eligible for a retirement benefit under Section 45-49A-63.60 or a member eligible for a benefit under subsection (a) of Section 45-49A-63.62 dies prior to his or her annuity starting date, his or her eligible family members shall receive a benefit equal to the greater of (i) the benefit they would have received had the member met the requirements of Section 45-49A-63.60 or subsection (a) of Section 45-49A-63.62 of the plan, as the case may be, retired, or terminated employment on the day preceding his or her death and begun to receive his or her benefit in accordance with the 50 percent survivor's benefit in Option 2 of Section 45-49A-63.81 or (ii) a single sum equal to the lesser of (A) twice the member's contributions to the plan under Section 45-49A-63.102 or (B) the sum of the member's contributions to the plan under Section 45-49A-63.102 plus five thousand dollars ($5,000). The benefit in clause (i) shall be converted to a single sum of...
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36-27B-1
Section 36-27B-1 (Effective November 8, 2016, subject to contingencies) Creation and effective date of program. There shall be created the Preretirement Death Benefit Program effective October 1, 1985, which shall be effective as of that date to all employees covered under the Teachers' Retirement System of Alabama and the Employees' Retirement System of Alabama. Beginning November 8, 2016, the Preretirement Death Benefit Program shall be effective to all members of the Judges' and Clerks' Plan and the District Attorneys' Plan provided for in Section 12-18-151 and Section 12-17-227.1. In the event the conditions prescribed in Section 36-27B-5 shall occur prior to October 1, 1985, the death benefit plan established herein shall become effective upon certification and adoption by a joint resolution of the Teachers' and Employees' Retirement Systems' Boards of Control. (Acts 1983, No. 83-616, p. 953, §1.)...
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