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
27-15-28.1
Section 27-15-28.1 Standard nonforfeiture law for individual deferred annuities - Annuity contracts issued by election under this section until June 30, 2006. (a) This section shall be known as the standard nonforfeiture law for individual deferred annuities. (b) This section shall not apply to any reinsurance group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer (including a partnership or sole proprietorship) or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under Section 408 of the Internal Revenue Code, as now or hereafter amended, premium deposit fund, variable annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity payments have commenced or reversionary annuity, nor to any contract which shall be delivered outside this state through an agent or other representative of the company issuing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-28.1.htm - 12K - Match Info - Similar pages
34-3-44
Section 34-3-44 Disbursements; compensation. For the purpose of carrying out the objectives of this chapter and for the exercise of the powers herein granted, the board shall have power to direct the disbursement of the fund created by Section 34-3-4, which shall be paid on warrant of the state Comptroller upon certificate or voucher of the secretary of the Board of Commissioners, approved by the president or vice-president of the Board of Commissioners. No member of the board shall receive any compensation for his or her service as such board member other than actual necessary expenses incurred in the discharge of his duties. No funds shall be withdrawn or expended except as budgeted and allotted according to the provisions of Article 4 of Chapter 4 of Title 41 of this code, and only in amounts as stipulated in the general appropriation bill. (Acts 1923, No. 133, p. 100, §13; Code 1923, §6282; Code 1940, T. 46, §32; Acts 1951, No. 827, p. 1459, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-3-44.htm - 1K - Match Info - Similar pages
45-39-100
Section 45-39-100 Compensation. (a) Each member of the Lauderdale County Board of Education shall receive an expense allowance of two hundred dollars ($200) per month which shall be paid out of the Lauderdale County general school fund and which shall be in addition to any and all other compensation, expenses, and allowances provided for by law. (b)(1) The members of the County Board of Education of Lauderdale County shall each receive from the public school funds of the county twenty-five dollars ($25) for each meeting attended, three hundred dollars ($300) per month, and their actual traveling and hotel expenses incurred in attending meetings of the board and transacting the business of the board. The members of the board shall not be paid for attending more than 24 meetings in any one year. Their compensation and expenses shall be paid in like manner as provided for the payment of the compensation of teachers. The compensation and expenses provided herein and the expense allowance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39-100.htm - 1K - Match Info - Similar pages
12-18-4
Section 12-18-4 Entitlement to retirement and receipt of pension of justices of Supreme Court, judges of courts of appeals and judges of circuit courts generally; retirement order. Every justice of the Supreme Court, judge of one of the courts of appeals or judge of a circuit court of the state who meets the requirements for retirement prescribed in this article shall be entitled to be retired and to receive a pension as hereinafter provided. Such retirement shall be on order of the Board of Control of the Judicial Retirement Fund and upon the request of the member to be retired or on an order signed by a majority of the members of the Supreme Court. (Acts 1973, No. 1163, p. 1948, §4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-4.htm - 1000 bytes - Match Info - Similar pages
15-23-16
Section 15-23-16 Alabama Crime Victims Compensation Fund; created; purposes; composition; administered or managed by commission. (a) There is hereby established a special fund to be known as the Alabama Crime Victims Compensation Fund. (b) The fund shall be placed under the management or administration of the Alabama Crime Victims Compensation Commission for purposes of providing compensation or other benefits to crime victims and for purposes of implementing this article. (c) The fund shall consist of all moneys collected or received by the Alabama Crime Victims Compensation Commission from any source. (d) The commission shall have control of the funds not inconsistent with this article and with the laws of Alabama. (e) All moneys of the commission shall be covered into the State Treasury or deposited in a special trust account and may be withdrawn therefrom by vouchers or check signed by the chair of the commission pursuant to authorization given by the commissioner. All investments...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/15-23-16.htm - 2K - Match Info - Similar pages
16-22-6
Section 16-22-6 Policies as to salary deductions; purposes for which deductions may be made; application. (a) Each local board of education and certain postsecondary institutions shall adopt policies or regulations which will provide for deductions from salaries of its employees or groups of employees whenever a request is presented to the board or postsecondary institution by the employees or groups. The deductions shall be made from salaries earned in at least nine different pay periods and shall be remitted to the appropriate company, association, or organization as specified by the employees within 10 days following each deduction. The deductions may be made for, but not limited to, savings plans, tax sheltered annuities, the Public Employees' Individual Retirement Account Fund, membership dues, voluntary contributions, and group insurance premiums. Deductions for membership dues and voluntary contributions shall be made based upon membership lists and forms provided by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-22-6.htm - 2K - 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
16-25-20
Section 16-25-20 Management of funds. (a) (1) The Board of Control shall be the trustees of the several funds of the Teachers' Retirement System created by this chapter as provided in Section 16-25-21, 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 man acting in a like capacity and familiar with the matters would use in the conduct of an enterprise of a like character and with like aims; and, 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 herein shall have been invested, as well...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-20.htm - 6K - Match Info - Similar pages
16-25-4
Section 16-25-4 Transfer of membership from the Employees' Retirement System of Alabama generally. (a) Any member of the Teachers' Retirement System who, not more than one year prior to becoming a member of the Teachers' Retirement System, was a member of the Employees' Retirement System of Alabama may elect to transfer to the Teachers' Retirement System his service credits in said Employees' Retirement System, as herein provided. (b) Any such member so desiring to transfer such service credits shall notify the Board of Control of the Teachers' Retirement System after he becomes a member of the Teachers' Retirement System of his election to transfer such service credits and shall authorize transfer of the amount of his accumulated contributions to his credit in said Employees' Retirement System to the annuity savings fund of the Teachers' Retirement System. (c) The Board of Control of the Employees' Retirement System shall thereupon certify to the Board of Control of the Teachers'...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-4.htm - 3K - Match Info - Similar pages
|