|
36-21-192
Section 36-21-192 Appointment of actuary; action upon report; liability for deficiency in payments.
(a) The board shall appoint and employ an actuary to make an actuarial valuation every three
years or earlier, if deemed required, of the receipts and income accruing to the fund based
on age, expected mortality, disability, and retirement status of the members and the qualified
service and membership service of members and to determine what percentage of the proposed
payments, annuities, and benefits set forth in this article may be paid if the fund is to
be kept on an actuarially sound and solvent basis. Upon receipt of the report of the actuary,
the executive director shall present it to a meeting of the board which shall make adjustments
of annuities and benefits, up or down, as recommended by the actuary. Any increase or reduction
in benefits resulting from any actuarial study or from any subsequent amendment of this article
shall be applicable to all persons then receiving such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-21-192.htm - 1K - Match Info - Similar pages
36-21-73
Section 36-21-73 Appointment of actuary; action upon report; liability for deficiency in payments.
The board shall have appointed and employed an actuary to make an actuarial valuation every
three years or earlier, if deemed required, of the receipts and income accruing to the fund
based on age, expected mortality, disability, and retirement status of the members and the
qualified service and membership service of members and to determine what percentage of the
proposed payments, annuities, and benefits set forth in this article may be paid if the fund
is to be kept on an actuarily sound basis and in an actuarily solvent condition. Upon receipt
of the report of the actuary, the executive director shall present it to a meeting of the
board which shall have the power and shall be required to make adjustments of annuities and
benefits, up or down, as are recommended by the actuary. Any increase or reduction in benefits
resulting from any actuarial study or from any subsequent amendment of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-21-73.htm - 2K - Match Info - Similar pages
45-37A-51.12
Section 45-37A-51.12 Refund of contributions for certain participants. It is hereby provided
that the provisions of those sections of Act 929 as amended by Act 1272, 1973 Regular Session
(Acts 1973, p. 2141), hereinafter in this section specified shall apply (except as hereinafter
provided) to the supplemental pension system in the same manner in which the same provisions
of the sections hereinafter specified apply to the general retirement and relief system established
by Act 929. The sections of Act 929 (including any amendments thereof heretofore made) which
shall apply to this supplemental pension system are the following sections of Act 929: Article
VI, Section 16 (entitled Termination of Employment Ineligibility - Return of Contributions);
Section 17 (entitled Payment of Return of Contributions); Section 18 (entitled Designation
of Severance Beneficiary); Article V, Section 6 (entitled Refund of Erroneous Contributions);
Article VII, Section 1 (entitled Liabilities of Employee...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.12.htm - 5K - Match Info - Similar pages
16-25-10.1
Section 16-25-10.1 Executive officers and employees of Alabama Association of School Boards.
(a) The governing body of the Alabama Association of School Boards may, by resolution legally
adopted to conform to the rules prescribed by the Board of Control of the Teachers' Retirement
System, elect to have its executive officers and employees, from whatever source and in whatever
manner paid, become eligible to participate in the Teachers' Retirement System of Alabama,
subject to all rules, regulations and conditions thereof. (b) The governing body of the Alabama
Association of School Boards having made an election through a resolution as provided in subsection
(a) of this section, its employees and executive officers may participate in and be entitled
to all benefits of the Teachers' Retirement System of Alabama; provided, that where member
contributions are made from salaries paid by the Alabama Association of School Boards, the
Alabama Association of School Boards shall pay the employer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-10.1.htm - 2K - Match Info - Similar pages
36-27-7
Section 36-27-7 Participation of employees of counties, cities, towns, public or quasi-public
organizations, etc. - Employees of Cooperative Extension Service of Auburn University under
federal appointment. (a) Any law to the contrary notwithstanding, the governing board of Auburn
University may, by resolution legally adopted, elect to have its employees, from whatever
sources and in whatever manner paid, become eligible to participate in the Employees' Retirement
System of the State of Alabama under the provisions of Section 36-27-6; provided, that all
contributions and benefits shall be computed based on a percentage, not to exceed 50 percent,
of each employee's total salary; and provided further, that such percentage shall be expressly
stipulated in the aforesaid resolution and that the resolution must expressly state that such
percentage shall be applied uniformly to all employees covered thereunder. The funding responsibility
of the employer, and the resolution referred to above...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-7.htm - 2K - Match Info - Similar pages
36-27C-2
Section 36-27C-2 Definitions. As used in this chapter, the following terms have the following
meanings: (1) BOARD. The Board of Control of the Public Employees Defined Contribution Savings
Fund. (2) ELIGIBLE EMPLOYER. An employer or other entity who compensates a participant for
the public service. (3) FUND. The Public Employees' Defined Contribution Savings Fund. (4)
PARTICIPANT. A person who elects to participate in the fund who makes voluntary employee contributions
into a 457 deferred compensation or a 403(b) tax sheltered annuity plan, who is not a public
school employee and who meets any of the following requirements: a. Is a member of the Teachers'
Retirement System. b. Is a member of the Employees' Retirement System. c. Is a member of the
Judicial Retirement Fund. d. Is an employee of an employer eligible to participate in the
Employees' Retirement System pursuant to Section 36-27-6 which elects to participate. e. Is
a public official or public employee of the State of Alabama...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27C-2.htm - 1K - Match Info - Similar pages
36-29-1
Section 36-29-1 Definitions. When used in this chapter, the following terms shall have the
following meanings, respectively, unless the context clearly indicates otherwise: (1) BOARD.
The State Employees' Insurance Board. (2) CLASS. An employee or retiree shall be included
in one of the following classes: (i) active employee single, (ii) active employee family,
(iii) non-Medicare retiree single, (iv) non-Medicare retiree family, (v) Medicare retiree
single, (vi) Medicare retiree family, (vii) non-Medicare retiree with Medicare eligible dependent(s),
or (viii) Medicare retiree with non-Medicare dependent(s). (3) EMPLOYEE. A person who works
full time for the State of Alabama or for a county health department and who receives his
or her full compensation on a monthly basis through means of a state warrant drawn upon the
State Treasury or by check drawn by the Treasurer of the Alabama State Port Authority or by
check drawn by the treasurer of the Alabama state agency for surplus property...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-1.htm - 11K - Match Info - Similar pages
45-37A-51.04
Section 45-37A-51.04 Membership. (a) The following shall be members of the supplemental pension
system hereby created: Members of the fire department or police department of the city who
belong to the general retirement and relief system, created by Act 929 on whose account the
city makes no contribution or pays no tax, to the United States of America under the federal
Social Security Act. (b) As used in this subpart these terms have the meanings here given
them: (1) ACT 556 CREDITABLE SERVICE. A member's service with the city during the period while
the salary deductions of Section 45-37A-51.05 applied to him or her and also his or her service
with the city during any period while salary deductions did not apply to him or her, provided
he or she exercises the option subsection (d) or (e) accords him or her to have his or her
service during the last mentioned period counted as Act 556 creditable services. (2) BENEFIT.
A benefit payable under this subpart to a member or to any person...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.04.htm - 10K - Match Info - Similar pages
12-17-227.11
Section 12-17-227.11 (Effective November 8, 2016, subject to contingencies) Supernumerary program;
participation election. (a) A person serving as district attorney, supernumerary district
attorney, or who has made an election to assume the office of supernumerary district attorney
or is otherwise entitled to participate in the supernumerary district attorney program established
under Division 2 of this article shall, subject to subsection (c), continue to serve or participate
in the supernumerary district attorney program, which shall include the assumption of the
office of the supernumerary district attorney after November 8, 2016 according to the terms
and conditions of Division 2 of this article, notwithstanding the fact that the person may
be re-elected after November 8, 2016 to the office he or she is holding on November 8, 2016.
(b) No person may participate in both the supernumerary district attorney program and the
Employees' Retirement System based on the same service. (c) A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-17-227.11.htm - 2K - Match Info - Similar pages
16-25-11.1
Section 16-25-11.1 Use of accrued sick leave in determining creditable service in retirement
system; conversion of unused sick leave. (a) Teachers, as defined in subdivision (3) of Section
16-25-1 or subsection (d) of Section 16-25-5, as amended may use their accrued sick leave,
up to a maximum number of accrued sick leave days allowed by law, to be included as membership
service in determining the total years of creditable service in the Teachers' Retirement System
of Alabama; provided, any teacher not authorized by law to receive sick leave may use any
accrued sick leave provided by his or her employer, provided, that employer is lawfully empowered
to grant such leave, which cannot be without pay; and provided further that the amount of
such accrued leave shall not exceed the maximum number of accrued sick leave days allowed
by law for a classroom teacher employed by a city or county board of education. Unused sick
leave may be converted to membership service only for the purpose of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-11.1.htm - 1K - Match Info - Similar pages
|