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36-27-25
Section 36-27-25 Funds for assets of retirement system - Management. (a) The Board of
Control shall be the trustees of the several funds of the Employees' Retirement System created
by this article as provided in Section 36-27-24 and shall have full power to invest
and reinvest the funds, through its Secretary-Treasurer in the classes of bonds, mortgages,
common and preferred stocks, shares of investment companies or mutual funds, or other investments
as the Board of Control may approve, with the care, skill, prudence, and diligence under the
circumstances then prevailing that a prudent person acting in a like capacity and familiar
with such matters would use in the conduct of an enterprise of a like character and with like
aims. Subject to like terms, conditions, limitations and restrictions, the Board of Control,
through its Secretary-Treasurer, shall have full power to hold, purchase, sell, assign, transfer,
and dispose of any investments in which the funds created in Section...
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36-27-95
Section 36-27-95 Amount of increase - Persons whose employer elects to come under provisions.
(a) Commencing October 1, 1993, each person whose employer participated in the Employees'
Retirement System pursuant to Section 36-27-6, whose effective date of retirement for
purposes of receiving benefits from the Employees' Retirement System is prior to October 1,
1992, and who is receiving or is entitled to receive a monthly allowance from the Employees'
Retirement System, may receive a cost-of-living increase determined by the formula used in
Section 36-27-94, if the employer elects to come under this article. Retirees who chose
Options 2, 3, or 4 shall receive the cost-of-living increase reduced by the same percentage
as the reduction which occurred because of the option selected. Any employer making the election
to come under this article shall bear the cost of the cost-of-living increases paid to its
employees pursuant to this section. Any employer participating under Section
36-27-6,...
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36-36-3
Section 36-36-3 Definitions. As used in this chapter, the following words and phrases
shall have the following respective meanings: (1) ALABAMA RETIRED EDUCATION EMPLOYEES' HEALTH
CARE TRUST. The Alabama Retired Education Employees' Health Care Trust created by the state
and the Public Education Employees' Health Insurance Board pursuant to this chapter. (2) ALABAMA
RETIRED STATE EMPLOYEES' HEALTH CARE TRUST. The Alabama Retired State Employees' Health Care
Trust created by the state and the State Employees' Insurance Board pursuant to this chapter.
(3) BOARDS. The State Employees' Insurance Board and the Public Education Employees' Health
Insurance Board. (4) DEPENDENTS. The spouse and dependent children, as defined by the rules
and regulations of the respective boards, of a retired employee who are covered by either
the Public Education Employees' Health Insurance Plan pursuant to Chapter 25A of Title 16,
as amended from time to time, or the State Employees' Health Insurance Plan...
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16-25-10.10
Section 16-25-10.10 Officers and employees of the American Federation of Teachers in
Alabama; contributions; creditable service. (a) The governing body of any local union or state
organization of the American Federation of Teachers 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 officers and employees, from whatever source and in whatever manner paid,
become eligible to participate in the Teachers' Retirement System subject to all rules, regulations,
and conditions thereof. (b) The governing body of any local union or state organization of
the American Federation of Teachers eligible under subsection (a) to participate in the system,
and having made an election by resolution to participate, may have its employees and officers
participate in, and be entitled to, all benefits of the Teachers' Retirement System, provided
that where contributions are made from salaries paid by a local union...
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16-25-10.2
Section 16-25-10.2 Executive officers and employees of Alabama Council for School Administration
and Supervision. (a) The governing body of the Alabama Council for School Administration and
Supervision 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 Council for School Administration and Supervision 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 contributions are made from
salaries paid by the Alabama Council for School Administration and...
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16-25-10.4
Section 16-25-10.4 Executive officers and employees of Alabama Congress of Parents and
Teachers; contributions; creditable service. (a) The governing board of the Alabama Congress
of Parents and Teachers 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 Congress of Parents and Teachers, having made
an election through a resolution as provided in subsection (a), its employees and executive
officers may participate in and be entitled to all benefits of the Teachers' Retirement System
of Alabama, provided that where contributions are made from salaries paid by the Alabama Congress
of Parents and Teachers, the association shall pay the...
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16-25-10.5
Section 16-25-10.5 Executive officers and employees of Alabama Opportunities Industrialization
Center; contributions; creditable service. (a) The governing board of the Alabama Opportunities
Industrialization Center 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 Opportunities Industrialization Center, having
made an election through a resolution as provided in subsection (a), its employees and executive
officers may participate in and be entitled to all benefits of the Teachers' Retirement System
of Alabama, provided that where contributions are made from salaries paid by the Alabama Opportunities
Industrialization Center, the center...
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16-25-10.7
Section 16-25-10.7 Officers and employees of community action agencies; contributions;
creditable service. (a) Any governing body of any community action agency organized pursuant
to Sections 11-80-4.1, 11-96-3 or 11-96-6 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 any community action agency
eligible under subsection (a) of this section and having made an election by resolution
as provided therein, its employees and executive officers may participate in and be entitled
to all benefits of the Teachers' Retirement System of Alabama, provided that where contributions
are made from salaries paid by a community action agency the agency shall pay the...
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16-25-10.8
Section 16-25-10.8 Officers and employees of Developing Alabama Youth Foundation; contributions;
creditable service. (a) The governing body of the Developing Alabama Youth Foundation 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 full-time 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 Developing Alabama Youth Foundation, having made an election through
a resolution as provided in subsection (a), its employees and executive officers may participate
in and be entitled to all benefits of the Teachers' Retirement System of Alabama; provided,
that where contributions are made from salaries paid by the Developing Alabama Youth Foundation,
the Developing Alabama Youth Foundation shall pay the...
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16-25-101
Section 16-25-101 Cost-of-living increase to members and beneficiaries of Employees'
Retirement System. (a) Commencing October 1, 1994, there is provided to certain persons identified
in subsection (b) of this section who are currently receiving benefits, whose effective
date of retirement was prior to October 1, 1994, for purposes of receiving benefits from the
Employees' Retirement System, and to certain beneficiaries of deceased members and deceased
retirees who are currently receiving survivor benefits if the effective date of retirement
or death for the deceased member or retiree was prior to October 1, 1994, for purposes of
receiving benefits from the Employees' Retirement System, a cost-of-living increase as follows:
(1) Two and one-half percent of the current gross benefit paid to the retiree and to certain
beneficiaries of deceased members and deceased retirees. (2) One dollar and fifty cents ($1.50)
per month for each year of service attained by the retiree for each retiree...
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