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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-17-227.htm - 3K - 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
16-25-23
Section 16-25-23 Exemptions from execution; recovery actions. (a) Except as provided in subsection (b), the right of a person to a pension; an annuity, or a retirement allowance; to the return of contributions; the pension, annuity or retirement allowance itself; any optional benefit or any other right accrued or accruing to any person under the provisions of this chapter; and the monies in the various funds created by this chapter are hereby exempt from any state or municipal tax and exempt from levy and sale, garnishment, attachment or any other process whatsoever, and shall be unassignable except as in this chapter specifically otherwise provided. (b)(1) Restitution, fines, court costs, fees, or any other financial obligations in a criminal case ordered by a circuit or district court judge in this state are not subject to the exemption set out in subsection (a), provided all of the following are satisfied: a. The amount of the restitution ordered is in the amount of one thousand...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-23.htm - 3K - Match Info - Similar pages
36-26-14
Section 36-26-14 Deferred compensation plans for certain employees. (a) The personnel board may adopt, establish, and maintain a deferred compensation plan or plans, except under Internal Revenue Code Section 403 (b), for the employees of the State of Alabama or any city, town, county, or public entity or corporation organized pursuant to the laws of this state. Notwithstanding the foregoing, prior to the employees of a county or political subdivision of the county participating in a plan, the employing county or political subdivision of the county shall approve participation in the plan. The personnel board may include in any such plan any provision that does not cause the plan to fail to qualify for its tax-favored treatment under the United States Internal Revenue Code, including, but not limited to, participant loans, unforeseeable emergency or hardship distributions, Roth deferrals, rollovers, transfers to purchase service credit, and distributions to purchase a retired public...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-26-14.htm - 3K - Match Info - Similar pages
12-5A-9
Section 12-5A-9 Participation of eligible employees in Employees' Retirement System; creditable service; formal leave accounting system; inclusion in health insurance plan. (a) Class specifications and rates of compensation for employees covered by this chapter, juvenile probation officers, juvenile probation professional staff, and clerical staff, hereafter called "eligible employees," and any future employees occupying those positions shall be established by the Administrative Director of Courts. Notwithstanding the foregoing, the compensation of any employee shall not be diminished as a result of his or her inclusion in the state court system personnel system. (b) Eligible employees included in the state court system personnel system pursuant to this chapter shall, on October 1 of the year their county transitions, be covered by the Employees' Retirement System. An employee who on that date is participating in a local retirement plan other than a unit administered by the Employees'...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-5A-9.htm - 11K - Match Info - Similar pages
16-25-21
Section 16-25-21 Method of financing. Effective October 1, 1997, all the assets of the retirement system shall be credited according to the purpose for which they are held among three funds, namely: The Annuity Savings Fund, the Pension Accumulation Fund, and the Expense Fund. The operation of the former Pension Reserve Fund and the Annuity Reserve Fund shall be discontinued as of such date, the balance of the former Pension Reserve Fund shall be transferred to the Pension Accumulation Fund, and the balance of the former Annuity Reserve Fund shall be transferred to the Pension Accumulation Fund. (1) The Annuity Savings Fund shall be a fund in which shall be accumulated contributions from the compensation of members to provide for their annuities. Contributions to and payments from the Annuity Savings Fund shall be made as follows: a. Each employer shall cause to be deducted from the salary of each member on each and every payroll of such employer for each and every payroll period five...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-21.htm - 15K - Match Info - Similar pages
45-28A-42.55
fund; investment. (a) The policemen's and firemen's retirement fund shall consist of the following: (1) All of the money, securities, and things of value belonging to any similar fund that may now or hereafter be maintained in the City of Gadsden. (2) All monies or properties that may be given or donated to the fund by any persons, firm, association, or corporation for the uses and purposes for which the fund is created; and the board may take, by gift, grant, devise, or bequest, any money, personal property, real estate, or any interest therein, or any right of property, for the benefit of the fund. (3) All reward money paid to any member of the police and fire departments of the city shall be paid by the recipients of the same into the retirement fund promptly upon receipt of the same. (4) All civil or criminal witness fees received by any member of the police and fire departments for attendance at or before any court or grand jury in Etowah County wherein the city employing them is...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-28A-42.55.htm - 3K - Match Info - Similar pages
12-18-156
Section 12-18-156 Payments from plan; optional allowances; replacement beneficiaries. (a) Should a member cease to be a judge or clerk except by death or by retirement under the provisions of this article, the contributions standing to the credit of his or her individual account in the fund shall be paid to him or her upon demand and, in addition to such payment, there shall be paid five-tenths of the interest accumulations standing to the credit of his or her individual account if he or she shall have not less than three but less than 16 years of membership service, six-tenths of such interest accumulations if he or she shall have not less than 16 but less than 21 years of membership service, seven-tenths of such interest accumulations if he or she shall have not less than 21 but less than 26 years of membership service and eight-tenths of such interest accumulations if he or she shall have not less than 26 years of membership service. (b) In case of the death of a member eligible for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-156.htm - 6K - Match Info - Similar pages
45-37A-51.03
Section 45-37A-51.03 Board of managers. (a)(1) In order to assure representation of all participants of this system, there shall be a board of managers of five members for the administration, management, and control of the supplemental pension system, including administration, management, control, acquisition, and disbursement of the fund. The board shall consist of the president of the governing body of the city, who shall be chair of the board, and four associate members, designated respectively as Member No. 1, Member No. 2, Member No. 3, and Member No. 4. (2) Member No. 1 shall be appointed by the Jefferson County Personnel Board and shall be a person who at the time of appointment has had five or more consecutive years immediately preceding his or her appointment and has been an officer of, or the occupant of an executive position in insurance, actuarial, investment, banking, or as a certified public accountant and shall serve for a term of four years. Should the appointed Member...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.03.htm - 11K - Match Info - Similar pages
36-27-16
Section 36-27-16 Retirement, etc., of employees; retirement allowances. (a)(1) RETIREMENT, ETC., OF EMPLOYEES GENERALLY; ELIGIBILITY FOR SERVICE RETIREMENT BENEFITS. a. Any Tier I plan member who withdraws from service upon or after attainment of age 60 and any Tier II plan member who withdraws from service upon or after attainment of age 62 may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired; provided, that any such member who became a member on or after October 1, 1963, shall have completed 10 or more years of creditable service; provided further, that a Tier I plan member employed as a state policeman shall be eligible to file application for service retirement upon attaining age 52 and a Tier II plan member employed as a state policeman or employed as a correctional officer, firefighter, or law enforcement officer as defined...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-16.htm - 34K - Match Info - Similar pages
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