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45-37-123.100
Section 45-37-123.100 Retirement benefits. (a) Superannuation retirement benefit. (1) ELIGIBILITY.
A member shall be eligible for a superannuation retirement benefit if: a. The member has 30
or more years of paid membership time, regardless of age; b. The member has 10 or more years
of paid membership time and has attained the age of 60; or c. The member has 30 years of service,
20 years of which are paid membership time, and has attained the age of 55. (2) CALCULATION
OF BENEFIT. If a member meets the foregoing eligibility criteria, then the member shall be
eligible to retire and receive a monthly benefit for the remainder of his or her life to be
determined by the following formula: a. Two and one-half percent multiplied by the basic average
salary multiplied by the number of years of paid membership time; plus b. Five-eights of one
percent multiplied by the basic average salary multiplied by the number of years of unpaid
membership time, if applicable. (3) SEVENTY-FIVE PERCENT...
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27-34-30
Section 27-34-30 Life benefit certificate - Filing with commissioner; standard provisions.
(a) After January 1, 1973, no life benefit certificate shall be delivered, or issued for delivery,
in this state unless a copy of the form has been filed with the commissioner. (b) The certificate
shall contain in substance the following standard provisions or, in lieu thereof, provisions
which are more favorable to the member: (1) Title on the face and filing page of the certificate
clearly and correctly describing its form; (2) A provision stating the amount of rates, premiums,
or other required contributions, by whatever name known, which are payable by the insured
under the certificate; (3) A provision that the member is entitled to a grace period of not
less than a full month, or 30 days at the option of the society, in which the payment of any
premium after the first may be made. During such grace period the certificate shall continue
in full force, but in case the certificate becomes a...
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36-25-1
person is associated in a manner different from the manner it affects the other members of
the class to which he or she belongs. A conflict of interest shall not include any of the
following: a. A loan or financial transaction made or conducted in the ordinary course of
business. b. An occasional nonpecuniary award publicly presented by an organization for performance
of public service. c. Payment of or reimbursement for actual and necessary expenditures for
travel and subsistence for the personal attendance of a public official or public employee
at a convention or other meeting at which he or she is scheduled to meaningfully participate
in connection with his or her official duties and for which attendance no reimbursement is
made by the state. d. Any campaign contribution, including the purchase of tickets to, or
advertisements in journals, for political or testimonial dinners, if the contribution is actually
used for political purposes and is not given under circumstances from...
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27-36A-5
Section 27-36A-5 Computation of minimum standard. (a) Except as provided in Sections 27-36A-6,
27-36A-7 and 27-36A-14, the minimum standard for the valuation of all the policies and contracts
issued prior to May 28, 1996, shall be that provided by the laws in effect immediately prior
to May 28, 1996. (b) Except as otherwise provided in Sections 27-36A-6, 27-36A-7, and 27-36A-14,
the minimum standard for the valuation of all policies and contracts issued on or after May
28, 1996, shall be the commissioners reserve valuation method defined in Sections 27-36A-8,
27-36A-9, 27-36A-12, and 27-36A-14, three and one-half percent interest, or, in the case of
life insurance policies and contracts, other than annuity and pure endowment contracts, issued
on or after August 23, 1976, four percent interest for the policies issued prior to July 30,
1979, and five and one-half percent interest for single premium life insurance policies and
four and one-half percent interest for all other policies...
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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...
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45-37-123.103
Section 45-37-123.103 Death benefits. (a) Preretirement death benefits. A vested member's beneficiary
is entitled to a preretirement joint survivorship pension, as described below. (1) MARRIED
MEMBER. If a married, active member dies, then the beneficiary may elect, on a form provided
by the pension board, to be paid in one of the following forms: a. One Hundred Percent Preretirement
Joint Survivorship Pension. If such member was eligible for a deferred retirement benefit
at the time of the member's death, then the beneficiary may elect to be paid in the form of
a 100 percent preretirement joint survivorship pension, which is a monthly annuity paid during
the beneficiary's lifetime which is equal to the actuarial equivalent of the benefits that
would have been paid to the member if, instead of dying, the member had terminated employment;
or b. Refund. The beneficiary may elect a refund of the member's employee contributions in
accordance with Section 45-37-123.104(4)b. (2) UNMARRIED...
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27-34-25
Section 27-34-25 Paid-up nonforfeiture benefits, cash surrender values, and certificate loans,
etc. (a) A society may grant paid-up nonforfeiture benefits, cash surrender values, certificate
loans, and such other options as its laws may permit. As to certificates issued on and after
January 1, 1972, a society shall grant at least one paid-up nonforfeiture benefit, except
in the case of pure endowment, annuity or reversionary annuity contracts reducing term insurance
contracts or contracts of term insurance of uniform amount of 15 years or less expiring before
age 66. (b) In the case of certificates other than those for which reserves are computed on
the commissioners 1958 Standard Ordinary Mortality Table or the 1961 Standard Industrial Table,
the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value,
loan or other option granted shall not be less than the excess, if any, of subdivision (1)
over subdivision (2) of this subsection, as follows: (1) The...
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8-9B-9
Section 8-9B-9 Defenses, liability, and protection of transferee. (a) A transfer is not voidable
under Section 8-9B-5(a)(1) against a person that took in good faith and for a reasonably equivalent
value given the debtor or against any subsequent transferee that took in good faith. (b) To
the extent a transfer is avoidable in an action by a creditor under Section 8-9B-8(a)(1),
the following rules apply: (1) Except as otherwise provided in this section, the creditor
may recover judgment for the value of the asset transferred, as adjusted under subsection
(c), or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment
may be entered against: (i) the first transferee of the asset or the person for whose benefit
the transfer was made; or (ii) any subsequent transferee, other than: (A) a good-faith transferee
that took for value; or (B) a subsequent transferee of a person described in clause (A). (2)
Recovery pursuant to Section 8-9B-8(a)(1) or (b) of or from...
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45-37-123.01
RETIREMENT BENEFIT. A benefit payable pursuant to the terms of subsection (a) of Section 45-37-123.100.
(52) SYSTEM or PLAN. The General Retirement System for Employees of Jefferson County, which
system or plan may sue or be sued, and in such name all of its business shall be transacted.
(53) SPOUSE. The legal wife or husband of a member as determined in accordance with federal
law. (54) TOTAL DISABILITY. A permanent physical or mental condition of a member resulting
from bodily injury, disease, or mental disorder which renders such member incapable
of continuing usual and customary employment with the county. The disability of a member shall
be determined by a licensed medical advisor. (55) TRUSTEE. The pension board or the person
or entity appointed by the pension board and named as trustee herein or in any separate trust
forming a part of the plan, and any successors. (56) TRUST FUND. The tax-qualified trust in
which certain plan funds are held, disbursed, transferred,...
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8-9A-8
Section 8-9A-8 Defenses, liability, and protection of transferee. (a) A transfer is not voidable
under Section 8-9A-4(a) against a person who took in good faith and for a reasonably equivalent
value or against any subsequent transferee or obligee who took in good faith. (b) Except as
otherwise provided in this section, to the extent a transfer is voidable in an action by a
creditor under Section 8-9A-7(a)(1), the creditor may recover judgment for the value of the
asset transferred, as adjusted under subsection (c), or the amount necessary to satisfy the
creditor's claim, whichever is less, or judgment for conveyance of the asset transferred.
The judgment may be entered against: (1) The first transferee of the asset or the person for
whose benefit the transfer was made; or (2) Any subsequent transferee other than a good faith
transferee who took for value or from any subsequent transferee. (c) If the judgment under
subsection (b) is based upon the value of the asset transferred, the...
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