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36-27-6
Section 36-27-6 Participation of employees of counties, cities, towns, public or quasi-public
organizations, etc. - Generally. (a) The governing board of any county, city, town or public
or quasi-public organization of the state or of any political subdivision thereof or the Alabama
Extension Service and Agricultural Experiment Station System of Auburn University may, by
resolution legally adopted to conform to rules prescribed by the Board of Control, elect to
have its officers and employees from whatever sources and in whatever manner paid become eligible
to participate in the retirement system; and the Adjutant General of the state, with the approval
of the Governor, may, by application properly prepared and submitted in conformity with rules
prescribed by the Board of Control, elect to have those employees of the Alabama National
Guard employed pursuant to 32 U.S.C.A., Section 709, and paid from federally appropriated
funds, become eligible to participate in this retirement system....
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45-37-123.132
Section 45-37-123.132 Adjustments to annual benefit and limitations. (a) Adjustment if fewer
than 10 years. Effective for limitation years ending after December 31, 2001, if a member
has fewer than 10 years of participation in the plan, then the defined benefit dollar limitation
of Section 45-37-123.131(a) shall be multiplied by a fraction, the numerator of which is the
number of years, or part thereof, of participation in the plan, and the denominator of which
is 10. However, in no event shall such fraction be less than one-tenth. Notwithstanding the
foregoing, no adjustment shall be made to the defined benefit dollar limitation for a distribution
on account of a member becoming disabled by reason of personal injuries or sickness, or as
a result of the death of a member. For purposes of this subsection, a year of participation
means each accrual computation period for which the following conditions are met: The member
is credited with a period of service for benefit accrual purposes,...
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45-37A-51.221
Section 45-37A-51.221 Minimum and maximum normal retirement benefit. (a) The minimum retirement
benefit payable under Section 45-37A-51.220 shall be four hundred dollars ($400) per month.
The maximum normal retirement benefit payable under Section 45-37A-51.220 shall be 75 percent
of final average salary, exclusive of sick leave bonus. Notwithstanding the foregoing and
to the extent applicable to governmental plans as defined in § 414(d), Internal Revenue Code,
in no event may the normal retirement benefit exceed the annual dollar limits imposed by §
415(b), Internal Revenue Code, excluding contributions under § 414(h)(2), Internal Revenue
Code. Further, no post severance compensation shall be included for any benefit hereunder.
Post severance compensation means amounts paid by the later of: (1) Two and one-half months
after an employee's severance from employment with the employer, or (2) the end of the limitation
year that includes the date of severance from employment with the...
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12-17-227
Section 12-17-227 (Effective November 8, 2016, subject to contingencies) Definitions. When
used in this division, the following terms shall have the following meanings, respectively,
unless the context clearly indicates otherwise: (1) ACCUMULATED CONTRIBUTIONS. The sum of
all the amounts deducted from the compensation of a member credited to his or her individual
account in the District Attorneys' Plan, together with regular interest thereon. (2) ACTUARIAL
EQUIVALENT. A benefit of equal value when computed upon the basis of the mortality tables
adopted by the Board of Control and regular interest. (3) ANNUITY. Payments for life derived
from the accumulated contributions of a member. All annuities shall be payable in equal monthly
installments. (4) AVERAGE FINAL COMPENSATION. The average annual compensation of a district
attorney with respect to which he or she had made contributions pursuant to Section 12-17-227.2
during the five years in his or her last 10 years of membership service...
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12-18-150
Section 12-18-150 (Effective November 8, 2016, subject to contingencies) Definitions. When
used in this article, the following terms shall have the following meanings, respectively,
unless the context clearly indicates otherwise: (1) ACCUMULATED CONTRIBUTIONS. The sum of
all the amounts deducted from the compensation of a member credited to his or her individual
account in the Judges' and Clerks' Plan, together with regular interest thereon. (2) ACTUARIAL
EQUIVALENT. A benefit of equal value when computed upon the basis of the mortality tables
adopted by the Board of Control and regular interest. (3) ANNUITY. Payments for life derived
from the accumulated contributions of a member. All annuities shall be payable in equal monthly
installments. (4) AVERAGE FINAL COMPENSATION. The average annual compensation of a judge or
clerk with respect to which he or she had made contributions pursuant to Section 12-18-152
during the five years in his or her last 10 years of membership service for...
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36-21-189
Section 36-21-189 Retirement annuity. (a) Any member, at any time after reaching the age of
62 and completion of at least 25 years' qualified service, shall be entitled to an annuity
benefit. (b) The amount of the monthly benefit shall be determined by the board in an amount
recommended by the actuary for the fund. The benefit shall begin upon approval by the board
on the date of the member's application for the benefits on forms provided by the board, but
in no event shall the benefit begin prior to his or her termination of service as a firefighter.
The benefits shall be paid for the life of the member, except as otherwise provided in this
section. (c) Any application made pursuant to this section shall contain evidence satisfactory
to the board of the date of birth of the member. If any member receiving retirement benefits
reenters employment as a firefighter, the payment of retirement benefits shall be terminated
as long as he or she is so employed. Upon termination of his or her...
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45-37A-51.165
Section 45-37A-51.165 Reemployment. (a) In the event a participant should cease to be a participant
hereunder, should elect a return of his or her contributions as provided in Section 45-37A-51.234
hereof, and should thereafter again become a participant hereunder, such participant shall
have the right to elect to have his or her previously credited service reinstated. Should
he or she so elect, the participant shall be liable to the fund for the amount of the contributions
previously refunded to such participant and the city director of finance shall deduct the
liability from the salary in 20 monthly installments of approximately equal amounts including
interest from the date of such refund of contributions at such rate used in the most recent
earnings assumption in the actuarial report compounded annually per annum. Alternatively,
the city director of finance shall be authorized to set such monthly installments, including
interest as herein specified, over such lesser number of...
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45-37A-51.250
Section 45-37A-51.250 Pension Funding Equity Act of 2004. Solely for purposes of calculating
DROP benefits and for converting lump sum amounts for compliance with § 415, Internal Revenue
Code, if the system provides a benefit in a form that is subject to the minimum present value
requirements of § 417(e)(3), Internal Revenue Code, in a fiscal year beginning in 2004 or
2005, the actuarially equivalent straight life annuity that is used for demonstrating compliance
with § 415, Internal Revenue Code, shall be the greater of: (1) The straight life annuity
determined using the plan rate and plan mortality table and (2) the straight life annuity
determined using 5.5 percent and the applicable mortality table. A benefit is subject to the
minimum present value requirements of § 417(e)(3), Internal Revenue Code, if it is any benefit
other than a nondecreasing annuity payable for a period of not less than the life of the participant,
or, in the case of a qualified preretirement survivor...
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36-27-55.1
Section 36-27-55.1 Purchase of credit for prior service with Alabama State Council on the Arts.
(a) Any active and contributing member of the Employees' Retirement System may purchase credit
in the Employees' Retirement System for prior service with the Alabama State Council on the
Arts if the member has not received credit in the system for the same prior service and has
not vested or otherwise become eligible to receive a retirement benefit by using the same
prior service credit in another pension plan offered by the council. (b) A member of the Employees'
Retirement System who is eligible to purchase any prior service credit under subsection (a)
of this section shall receive the credit if he or she pays into the system on or before his
or her date of retirement, an amount of five percent of the greater of the member's current
annual earnable compensation or average final compensation, whichever is greater, as determined
by the actuary for the system, for the entire period of prior...
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45-37-123.102
Section 45-37-123.102 Disability retirement benefits. (a) Non-service connected disability
benefits. Subject to subsection (h), any member who, after accumulating 10 years of paid membership
time, experiences a total disability as a result of a non-service connected disability shall
be entitled to receive, at the time set forth in subsection (e), monthly disability retirement
benefits determined in accordance with Section 45-37-123.100, as though the disabled member
were entitled to a superannuation retirement benefit at the commencement of the disability;
however, there shall be a percentage reduction of such benefit to reflect early commencement
of the payment, such percentage to be based on the member's whole years from actual eligibility
for a superannuation retirement benefit, as set forth below. Notwithstanding any provisions
to the contrary, the minimum monthly disability retirement benefit payable in connection with
a non-service connected disability shall be 50 percent of the...
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