|
36-21-72
Section 36-21-72 Death benefits. Each member shall be issued a certificate by the board in
which the board shall agree to pay to a beneficiary to be designated by such member, upon
his death while an active member, and to be conditioned upon the satisfaction of all obligations
of the member to the fund, a lump sum amount of $2,500.00. If any member is killed in the
line of duty, there shall be paid to his beneficiary or estate all membership fees paid by
such member into the fund. Such repayment of membership fees shall be in addition to the death
benefit hereinabove provided. The board shall pay to the beneficiary of a member, upon his
death while an active member, a refund pursuant to Section 36-21-74. (Acts 1969, No. 999,
p. 1855, §12; Acts 1971, No. 1210, p. 2104, §12; Acts 1975, 2nd Ex. Sess., No. 62, p. 188,
§1; Acts 1977, 1st Ex. Sess., No. 37, p. 1448, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-21-72.htm - 1K - Match Info - Similar pages
36-21-191
Section 36-21-191 Death benefits. (a) Each member shall be issued a certificate by the board
in which the board agrees to pay to a beneficiary designated by such member, upon death while
an active member, and to be conditioned upon the satisfaction of all obligations of the member
to the fund, a lump sum amount of two thousand five hundred dollars ($2,500). (b) If any member
is killed in the line of duty, his or her beneficiary or estate shall be paid all membership
fees paid by the member. Such repayment of membership fees shall be in addition to the death
benefit provided in this section. The board shall pay to the beneficiary of a member, upon
death while an active member, a refund pursuant to Section 36-21-190. (Act 2010-726, p. 1818,
§12.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-21-191.htm - 1K - Match Info - Similar pages
45-37-123.104
Section 45-37-123.104 Withdrawal and refund of employee contributions. The following provisions
generally govern a member's withdrawal and refund of employee contributions under the plan.
Any member who fails to make application for the amount of his or her employee contributions
pursuant to this section within five years after his or her separation from the service of
the county, except as otherwise provided herein or otherwise determined by the pension board,
shall be deemed to have forfeited and donated such employee contributions to the trust fund
pursuant to Section 45-37-123.83. The foregoing five year rule only applies to a member; in
the case of a beneficiary, the pension board may only forfeit employee contributions after
it has exhausted reasonable efforts to locate the beneficiary. (1) WITHDRAWAL OF EMPLOYEE
CONTRIBUTIONS BY MEMBERS NOT ENTITLED TO A DEFERRED RETIREMENT BENEFIT. In the event that
a member ceases to be an employee of the county for reasons other than...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.104.htm - 10K - Match Info - Similar pages
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,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.01.htm - 27K - Match Info - Similar pages
16-25-150
Section 16-25-150 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 the 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 requirements: (1) Has at least 25 years of creditable
service exclusive of sick leave. (2) Is at least 55 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 years, nor to be less than three years. A member may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-150.htm - 5K - 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
27-17A-2
designed for the encasement of human remains and which is usually constructed of wood, metal,
or like material, and ornamented and lined with fabric. (11) CEMETERY. A place that is established,
maintained, managed, operated, or improved and which is dedicated to and used or intended
to be used for the final disposition of human remains and their memorialization. (12) CEMETERY
AUTHORITY. Any person who owns or controls a cemetery or conducts cemetery business. (13)
CEMETERY MERCHANDISE. Any personal property offered for sale, contracted for sale,
or sold for use in connection with the burial of, final disposition, memorialization, interment,
entombment, or inurnment of human remains by a cemetery authority. Cemetery merchandise specifically
includes, but is not limited to, the casket, the outer burial container, and the memorial.
(14) CEMETERY SERVICES. Services provided by a cemetery authority for interment, entombment,
inurnment, and installation of cemetery merchandise. (15)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-2.htm - 12K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.103.htm - 10K - Match Info - Similar pages
16-25-33
Section 16-25-33 Term Life Insurance Fund; payment of benefits; funding. (a) A separate fund
to be known as the Term Life Insurance Fund is hereby established within the Teachers' Retirement
System of Alabama. Such fund shall consist of all monies paid by the employers for term life
insurance, and of the investment earnings of such monies and all such funds shall be used
only for the payment of benefits provided by this section. (b) Commencing October 1, 1995,
upon proof satisfactory to the board of the death of a contributing member who is a full-time
employee there shall be paid in the form of a term life insurance benefit the sum of $15,000.
On account of the death of a part-time employee, the benefit provided herein shall be prorated
based on the employee's percent of full-time employment. This benefit shall be paid to the
designated beneficiary on file with the Teachers' Retirement System. For purposes of this
section, a person shall be deemed a contributing member if (1) he or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-33.htm - 2K - Match Info - Similar pages
16-33C-10
Section 16-33C-10 ACES Program generally. (a) The ACES Program is established as one college
savings alternative under the plan whereby contributors open ACES savings accounts according
to savings agreements for the payment of qualified higher education costs for a designated
beneficiary at eligible educational institutions, terms as defined in Section 529 of the Internal
Revenue Code of 1986, as amended, or other applicable federal law. The ACES Program includes
the ACES Trust Fund, the ACES Administrative Fund, and the ACES Opportunity Enhancement Fund
created pursuant to this chapter. The ACES Program may be marketed under a different name
than ACES. (b) The ACES Trust Fund is hereby created and shall be comprised of separate ACES
savings accounts held in segregated accounts as established by savings agreements. Funds contributed
to the ACES savings accounts established pursuant to the ACES Program are held in trust by
the Savings Board for the sole benefit of the contributor and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-33C-10.htm - 3K - Match Info - Similar pages
|