|
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
45-27A-60
Section 45-27A-60 Town of Pollard Trust Account. (a)(1) There is hereby established a trust
account for the Town of Pollard, Alabama, for the exclusive benefit of the Town of Pollard
and its citizens. The name of the trust fund shall be the Town of Pollard Trust Account. (2)
In order to preserve for future generations the Town of Pollard Trust Account and to ensure
water service, garbage pickup, grass mowing, and general maintenance of public property, expenditures
from the income of the trust are authorized only for the following uses: a. Maintenance and
replacement of water system equipment and property. b. The payment of utility charges incurred
by the town. c. Purchase and maintenance of insurance for the water system, other town property,
and bonding fees required by law for the mayor, the town clerk, and any other person authorized
to sign checks for the Town of Pollard. d. Repair and replacement of town equipment. e. Employment
of two permanent employees to perform garbage...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-27A-60.htm - 7K - Match Info - Similar pages
45-37A-51.05
Section 45-37A-51.05 Retirement and relief fund. (a) For the purpose of the deductions from
salary provided for in this section, the salary of a fireman or policeman shall be deemed
to be the same as his or her salary is for the purpose of payroll deductions provided for
in Section 9 of Act 929. (b)(1) At the end of each payroll period after the effective date
of this subpart, the City of Birmingham shall deduct from the salary of each firefighter police
officer who commenced service on or after May 2, 1978, an amount equal to three and 30/100
percent of his or her salary plus an actuarially determined amount to cover one-half of the
cost of providing a retirement benefit after 20 years of credited service. This amount shall
not exceed the amount necessary to fund the additional cost over a period of 30 years, and
shall be deposited into the supplemental pension system; provided, however, the city shall
not make any such deduction from the salary of any firefighter or police officer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.05.htm - 5K - Match Info - Similar pages
45-37A-51.245
Section 45-37A-51.245 Retroactive deferred retirement option plan. (a) Effective July 1, 2002,
a participant who retires at least 90 days following July 1, 2002, who has then completed
at least 23 years of credited service, and who is otherwise entitled to retire and receive
a normal retirement benefit, shall have the opportunity to elect a back drop plan. A participant
eligible for the back drop plan can elect in writing at his or her retirement to retroactively
drop his or her credited service in excess of 20 years, for a period of months not exceeding
36 months immediately preceding the date of retirement, the back drop period; provided that
the beginning of the back drop period may not extend past the earliest date on which the participant
would have qualified for a normal retirement benefit. A participant who is not actively employed
may not make a back drop election. To be effective, a back drop election by a married participant
shall be approved in writing by his or her spouse....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.245.htm - 5K - Match Info - Similar pages
11-94-1
commission and, with respect to a municipality, the council, commission or other governing
body of such municipality. (7) MUNICIPALITY. Any incorporated city or town in this state.
(8) INDENTURE. Any mortgage, indenture of mortgage, deed of trust, trust agreement or trust
indenture executed by an authority as security for its bonds. (9) PROJECT. a. Any land, any
interest in land, any building, structure, or improvement thereon, any machinery, equipment,
furniture, furnishings, facility or personal property, or any of them, which, in the
judgment of the board of an authority is suitable for use by the authority in carrying out
its powers and the functions authorized by this chapter, including, without limitation, ports,
docks, and all kinds of dock facilities, water and rail terminals and facilities, wharves,
piers, berths, quays, loading and unloading facilities and other related facilities, marinas,
boating facilities, facilities for aquatic entertainment and sports, facilities for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-94-1.htm - 4K - Match Info - Similar pages
2-5A-35
Section 2-5A-35 Refunding bonds. (a) Any bonds issued by the Department of Agriculture and
Industries pursuant to this article may from time to time thereafter be refunded by the issuance
of refunding bonds of the Department of Agriculture and Industries; provided, however, that
no refunding bonds shall be issued unless the present value of all debt service on the refunding
bonds, computed with a discount rate equal to the true interest rate of the refunding bonds
and taking into account all underwriting discount and issuance expenses, shall not be greater
than 97 percent of the present value of all debt service on the bonds to be refunded, computed
using the same discount rate and taking into account the underwriting discount and other issuance
expenses originally applicable to such bonds, determined as if such bonds to be refunded were
paid and retired in accordance with the schedule of maturities, considering mandatory redemption
as a scheduled maturity, provided at the time of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-5A-35.htm - 3K - Match Info - Similar pages
36-27-170
Section 36-27-170 Participation in plan. (a) As governed by this subsection, there exists as
a part of this retirement system, an optional account known as the Deferred Retirement Option
Plan, which may be cited as "DROP." The purpose of DROP is to allow, contractually,
in lieu of immediate withdrawal from service and receipt of a retirement allowance, continued
employment for a specific period of time, coupled with the deferral of receipt of a retirement
allowance until the end of such period of participation, at which time the member shall withdraw
from service. (b) Participation in DROP is an option available to any member of this retirement
system who meets all of the following: (1) Has at least 25 years of creditable service exclusive
of sick leave. (2) Is at least 55 years of age, or in the case of a state police member, is
at least 52 years of age. (3) Is eligible for service retirement. (c) An election to participate
in DROP may be made in one year increments not to exceed five...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-170.htm - 5K - Match Info - Similar pages
45-37-171.20
Section 45-37-171.20 Cost-of-living increases for certain retirees. (a)(1) Effective retroactively
to October 1, 2000, each retiree of the Jefferson County Department of Health receiving monthly
benefits from the City of Birmingham Retirement and Relief System, whose effective date of
retirement was after the department elected to become a member in the Employees' Retirement
System and prior to October 1, 2000, shall receive a cost-of-living increase of four percent
in his or her gross monthly benefit, but not less than twenty-five dollars ($25) per month.
(2) Beneficiaries of deceased retirees referenced in subdivision (1) shall receive the cost-of-living
increase in the amount attained by the retiree. The increase shall not be less than twenty-five
dollars ($25) per month. (b) When future cost-of-living increases are provided to the Jefferson
County Department of Health retirees and their beneficiaries who are receiving monthly benefits
from the Employees' Retirement System, the same...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-171.20.htm - 1K - Match Info - Similar pages
45-8A-22.119
the plan pursuant to Section 45-8A-22.117, into the trust to a beneficiary who has been designated
by the participant, in writing, executed by the participant on a form prescribed by the retirement
board and delivered to the secretary-treasurer. In the event that the participant has not
designated a beneficiary, the retirement board shall, upon demand, pay the lump sum equal
to the deceased participant's contributions made to the plan pursuant to Section 45-8A-22.117,
into the trust to the personal representative of the estate of the deceased participant.
Any amounts received by the participant in his or her lifetime or by his or her surviving
spouse or children following the death of the participant shall be deducted from the amount
payable to the beneficiary properly designated by the participant or to the estate of the
deceased participant pursuant to the terms of the plan. Any attempt to designate a beneficiary
pursuant to the terms of this subsection not in compliance with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.119.htm - 11K - Match Info - Similar pages
11-50-411
Section 11-50-411 Disposition of net profits of district; "net income" defined; distribution
of less than net income for fiscal year; availability for payment in future fiscal years.
All the net income of the gas transmission system or systems, for each fiscal year, of a gas
district incorporated under this article shall, unless otherwise provided in the certificate
of incorporation of such district, be divided, within a reasonable time after the close of
each fiscal year, among its member municipalities in proportion to the amount of gas sold
to or within each such municipality. All the net income of each gas distribution system, for
each fiscal year, of any such district shall, unless otherwise provided in its certificate
of incorporation, be distributed and paid, within a reasonable time after the close of each
fiscal year, to the municipality or municipalities within which such distribution system is
located. The term "net income" as used in the preceding two paragraphs of this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-411.htm - 5K - Match Info - Similar pages
|