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36-27-171
Section 36-27-171 Withdrawal from service; death of participant. (a) On withdrawing from service
pursuant to Section 36-27-16, a member who participated in DROP: (1) Who fulfilled his or
her contractual obligation pursuant to DROP shall receive a lump-sum payment from his or her
DROP account equal to the payments made to that account on his or her behalf plus interest.
Further, the member shall receive his or her accumulated contribution made during participation
in DROP, together with interest for the period of DROP participation as provided in subdivision
(1) of subsection (c) of Section 36-27-16. In lieu of a lump-sum payment from the DROP account,
to the extent eligible under applicable tax laws, the member's total accrued benefit may be
"rolled over" directly to the custodian of an eligible retirement plan. The member
shall also begin receiving his or her monthly benefit which had been paid directly into the
DROP account during his or her participation in DROP. However, if...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-171.htm - 9K - Match Info - Similar pages
45-8A-22.103
Section 45-8A-22.103 Trustee; pensions and benefits. (a) The retirement board or the person
or entity appointed by the retirement board and named as trustee in any separate trust forming
a part of the plan shall serve as the trustee of the trust (the "trustee"). It may
adopt and enforce necessary rules and regulations to carry out the purposes of the plan and
enable it to properly manage and administer the trust, including employing investment counselors
and agents to invest and manage portions of the trust, as the retirement board may direct.
(b) When the actuary certifies that the necessary funds are available, the retirement board,
in accordance with Section 45-8A-22.101, may increase the benefits provided for retirees by
passing a written board resolution which declares that the monthly benefit paid to each retiree,
surviving spouse, or other beneficiary of the retiree shall be increased by a flat dollar
amount per month, increased by a flat dollar amount per year of active service...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.103.htm - 1K - Match Info - Similar pages
16-13-303
Section 16-13-303 Notes not general obligations; source of payment. (a) Warrants issued under
this article shall not be general obligations of the board issuing such warrants but shall
be payable solely from the designated revenues or tax proceeds of the board which may be lawfully
applied to the payment of indebtedness of such board, including funds derived from any one
or more of the following sources: (1) The proceeds of any ad valorem tax or taxes levied for
the purpose of paying such warrants, or for educational or public school purposes, and paid,
apportioned, allocated, or distributed to or for the benefit of the board. (2) The proceeds
of any privilege, license, or excise tax or taxes that may be paid, apportioned, allocated,
or distributed to or for the benefit of the board. (3) Any revenues of whatsoever kind or
nature (including, without limitation, payments pursuant to agreements delivered pursuant
to this article and payments in lieu of taxes) that may be paid,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-303.htm - 4K - Match Info - Similar pages
16-25-100
Section 16-25-100 Cost-of-living increase in pension benefits to members and beneficiaries
of Teachers' Retirement System. Commencing October 1, 1994, there is provided to each person
currently receiving benefits whose effective date of retirement was prior to October 1, 1994,
for purposes of receiving benefits from the Teachers' Retirement System, and to certain beneficiaries
of deceased members and deceased retirees currently receiving survivor benefits, if the effective
date of retirement or death for the deceased retirees or deceased member was prior to October
1, 1994, for purposes of receiving benefits from the Teachers' 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 selecting the maximum retirement allowance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-100.htm - 2K - Match Info - Similar pages
36-21-66
Section 36-21-66 Alabama Peace Officers' Annuity and Benefit Fund created; purpose and official
designation; composition generally; investment, expenditure, etc., of moneys therein. A special
fund is established and placed under the management of the board for the purpose of providing
retirement allowances and other benefits under this article for members of the fund. The fund
shall be known as the Alabama Peace Officers' Annuity and Benefit Fund, by and in which name
all of its business shall be transacted, all of its funds invested, and all of its cash and
securities and other property held in trust for the purposes for which received. All amounts
received by the board pursuant to this article shall be paid into the fund. The board shall
have such control of the fund as shall not be inconsistent with this article and with the
laws of the state. All moneys of the board shall either be deposited into the State Treasury
or in a special trust account or accounts in any bank or banks in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-21-66.htm - 3K - Match Info - Similar pages
45-28A-42.51
Section 45-28A-42.51 Creation. There is hereby created, in connection with the regularly organized
and paid police department and fire department of the City of Gadsden, a board of trustees
of the policemen and firemen's retirement fund. Such board shall be known and called the Board
of Trustees of the Policemen's and Firemen's Retirement Fund of the City of Gadsden. The board
of trustees shall be constituted and selected as hereinafter provided and directed; and in
each city to which this subpart applies there is also created a policemen's and firemen's
retirement fund for the benefit of persons hereinafter named, to be derived and raised in
the manner hereinafter provided. The Policemen's and Firemen's Retirement Fund of the City
of Gadsden and the board of trustees of such fund shall, after this subpart becomes law, be
governed by this subpart, and such fund shall be managed and controlled by a board of trustees
conforming to this subpart. (Act 80-442, p. 674, §2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-28A-42.51.htm - 1K - Match Info - Similar pages
15-13-206
Section 15-13-206 Alabama Professional Bail Bonding Board - Alabama Bail Bond Board Fund. (a)
There is created in the State Treasury for the use of the Alabama Professional Bail Bonding
Board a fund to be known as the Alabama Bail Bond Board Fund. (b) All application and license
fees, penalties, fines, and any other fees or funds collected by the board under this article
are to be deposited in this fund and used only to carry out the operations of the board. (c)
For the purpose of carrying out the objectives of this article and for the exercise of the
powers granted in this article, the Alabama Professional Bail Bonding Board may direct the
disbursement of the funds from the Alabama Bail Bond Board Fund necessary to cover reasonable
and necessary operating costs and board member compensation and expenses as provided by this
article, which shall be paid on warrant of the Comptroller upon certificate or voucher of
the secretary of the board, approved by the president or vice president of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/15-13-206.htm - 1K - Match Info - Similar pages
34-16-9
Section 34-16-9 Annual fee; fund. (a) The annual fee may be increased or decreased by the board,
provided, the board shall not set an annual fee at an amount which would not provide sufficient
revenues to pay all the costs and expenses incurred by the board in enforcing this chapter.
(b) The annual fee shall cover a license or permit for the 12-month period beginning March
15 of each year. (c) There is created in the State Treasury the Alabama Licensure Board for
Interpreters and Transliterators Fund. All fees collected by the board shall be paid into
the State Treasury to the credit of the fund. Monies in the fund shall be subject to withdrawal
only upon warrant of the state Comptroller to be issued upon certification of the secretary
or treasurer of the board. (d) Any funds remaining in the State Treasury to the credit of
the board at the end of each year in excess of two hundred fifty thousand dollars ($250,000)
shall be available to provide for the education and training of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-16-9.htm - 1K - Match Info - Similar pages
34-25-5
Section 34-25-5 Administration and enforcement of chapter; deposits and expenditures; per diem
and travel expenses for board members; purchasing; board exempt from sales tax. (a) The board
shall issue regulations and forms consistent with this chapter for the administration and
enforcement of this chapter. (b) An order or a certified copy thereof, over board seal and
purporting to be signed by the board members, shall be prima facie proof that the signatures
are the genuine signatures of the board members and that the board members are fully qualified
to act. (c) On April 11, 1989, all moneys and appropriations credited to the Board of Polygraph
Examiners under the provisions of Article 4 of Chapter 4, Title 41, shall be transferred by
the State Treasurer to the charge and custody of the Board of Polygraph Examiners of the Alabama
Department of Public Safety; and the board shall administer the fund as provided by law. The
fund is hereby officially known as the Board of Polygraph...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-25-5.htm - 2K - Match Info - Similar pages
34-7B-6
Section 34-7B-6 Board of Cosmetology and Barbering Fund. (a) There is established a special
fund in the State Treasury to be known as the Board of Cosmetology and Barbering Fund. The
fund shall consist of all monies received by the board pursuant to this chapter. Monies in
the fund shall be disbursed only upon warrant of the Comptroller upon itemized vouchers signed
by the treasurer of the board or an authorized designee. Any money remaining in the fund at
the end of each fiscal year shall remain on deposit in the fund for the use of the board.
(b) All funds and fees of any nature received by the board shall be paid to the fund or a
designated party on behalf of the board. (Act 2013-371, p. 1330, §2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-7B-6.htm - 1K - Match Info - Similar pages
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