36-27-49.1
Section 36-27-49.1 Credit for military service; option must be exercised and paid before October 1, 1986. (a) Any active and contributing member of any one of the State of Alabama retirement systems who has been such a member for six consecutive years or more or any former such member who has vested retirement benefits may hereby claim and purchase credit in his or her respective retirement system for up to four years' time which such member has served in the military service of the Armed Forces of the United States exclusive of any weekend or state active military service in any reserve or National Guard component of any branch of the armed forces, provided said member or former member has not received credit toward retirement status in such retirement system for said military service, and further provided that such member or former member shall receive no credit for military service if such member or former member is receiving military service retirement benefits other than...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-49.1.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.100.htm - 12K - Match Info - Similar pages
16-25-25
Section 16-25-25 Limitation on membership. No other provision of law in any other statute which provides wholly or partly at the expense of the State of Alabama or of any political subdivision thereof for pensions or retirement benefits for teachers of the said state, except as may be provided by state and federal laws for coverage under the provisions of the Federal Old Age and Survivors Insurance System of the Social Security Act, shall apply to members of the retirement system established by this chapter; provided, that if any member who filed an enrollment with the Board of Control on or before September 1, 1942, and who was certified to the Board of Control as an employee of a county board of education which had a statutory pension plan in effect on September 1, 1941, should receive upon retirement on or before July 1, 1950, a retirement allowance less than the pension which would have been provided for him under the local pension plan, then such member shall be eligible to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-25.htm - 1K - Match Info - Similar pages
36-27-49
Section 36-27-49 Purchase of credit for active military service; limitations; termination date. (a) Any active and contributing member of any one of the State of Alabama retirement systems who has been such a member for 10 consecutive years and has not previously purchased credit for military service with any one of the State of Alabama retirement systems may hereby claim and purchase credit in his or her respective retirement system for up to four years' creditable service for time which such member has served in the active full-time military service of the Armed Forces of the United States, exclusive of any summer, weekend, or other part-time active military service in any reserve or National Guard component of any branch of the armed forces, provided said member has not received credit toward retirement status in such retirement system for said military service, and further provided that such member shall receive no credit for military service if such member is receiving military...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-49.htm - 2K - Match Info - Similar pages
45-37-123.194
Section 45-37-123.194 Prohibition against diversion of funds. (a) Except as provided below and otherwise specifically required by law, it shall be impossible by operation of the plan or of the trust agreement, by termination of either, by power of revocation or amendment, by the happening of any contingency, by collateral arrangement, or by any other means, for any part of the corpus or income of any trust fund maintained pursuant to the plan or any funds contributed thereto to be used for, or diverted to, purposes other than the exclusive benefit of members, former members, or their beneficiaries; and no funds of the system, whether in cash, securities, or otherwise, nor any income or yield thereof, shall be subject to or exacted on account of, any tax; and no retirement or disability allowance or right to return of contributions, or other benefits payable as set forth in the plan, shall be assignable or be subject to execution, levy, attachment, garnishment, or other legal process....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.194.htm - 3K - Match Info - Similar pages
12-18-112
Section 12-18-112 Transfer of contributions and creditable service - District judge's adjusted benefit formulas; spouse's benefits. In the event a member of the Judicial Retirement Fund, who is a district judge, or a surviving spouse thereof, must employ and count creditable service transferred under this article to qualify for retirement and/or benefits under the fund, the benefits or allowances payable to such member or spouse shall be calculated as follows, and shall be in lieu of any and all other rights, benefits and allowances, except social security payments: (1) The annual service allowance payable to a retiring district judge shall be an annual amount equal to the sum of: a. The amount which results when 90 percent of the retirement benefits payable by the state to circuit judges on the date such district judge retires (as is provided under Section 12-18-58) is multiplied by the ratio created when the member's number of years of creditable service, excluding transferred...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-112.htm - 4K - Match Info - Similar pages
16-25-11
Section 16-25-11 Creditable service. (a) Under such rules and regulations as the Board of Control shall adopt, each person who was a teacher prior to October 1, 1940, and who under the provisions of this chapter makes up contributions plus eight percent compound interest on such contributions for the time said teacher taught as a nonmember and who becomes a member prior to October 1, 1974, shall file a detailed statement of all service as a teacher rendered by him prior to October 1, 1940, for which he claims credit. The Board of Control shall fix and determine by appropriate rules and regulations how much service in any year is equivalent to one year of service, but in no case shall it allow any credit for a period of absence without pay for more than one month's duration, nor shall more than one year of service be creditable for all service in one calendar year. Service rendered for a regular school year shall be equivalent to one year's service. Subject to the above restrictions and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-11.htm - 6K - Match Info - Similar pages
36-27-6.5
Section 36-27-6.5 Employers authorized to provide Tier I retirement benefits to Tier II plan members. (a) Any employer participating in the Employees' Retirement System of Alabama pursuant to Section 36-27-6, may, by adoption of a resolution by May 8, 2021, elect to provide to its Tier II plan members the same retirement benefits provided to Tier I plan members. Provided, however, the Employees' Retirement System Board of Control, based on a staff review of the historical compliance with ERS requirements as well as the financial stability of the local government entity, may elect to deny the election authorized herein. The local entity may petition the Board of Control for a reconsideration of its action by May 8, 2021. The election shall be irrevocable and shall be effective at the beginning of the fiscal year following the date the resolution is received by the ERS. (b) Any employer that has not increased the Tier I member contribution rates as provided in Act 2011-676 shall develop...
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45-37A-51.11
Section 45-37A-51.11 Death benefit for spouses and children not receiving certain benefits. (a) The words, terms, and phrases used in this section shall have the meaning ascribed to them by Act 929, or Section 45-37A-51.07, unless it appears from the context that a different meaning is intended. (b)(1) This section shall not apply to any firefighter or police officer, or to his or her spouse, child, or children, unless at the time of his or her death he or she had accumulated at least five years' credited service under Act 929. This section shall not apply to any firefighter or police officer who has not executed within the time hereinafter specified an instrument which shall provide that in the event of his or her death the board of managers of this supplemental pension system shall receive the return of any contributions made by him or her to this supplemental pension system and to the general retirement and relief system created by Act 929, which if he or she had not executed the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.11.htm - 5K - Match Info - Similar pages
45-37A-51.228
Section 45-37A-51.228 Survivor's benefits. (a) Effective July 1, 2002, in the event of the death of a retiree or participant who, on the date of his or her death was eligible for voluntary retirement under Section 45-37A-51.220, there may be payable a monthly survivor's benefit equal to 60 percent of the monthly retirement benefit which the retiree was receiving or was entitled to receive prior to his or her death or which the participant would have been entitled to receive had he or she retired under Section 45-37A-51.220 on the day preceding his or her death; notwithstanding anything to the contrary, the survivor's benefit may be increased pursuant to Section 45-37A-51.242. In the event any survivor is being paid an amount in excess of 60 percent of the retiree's monthly benefit on May 1, 2006, such survivor's benefits shall not be decreased. (b)(1) Effective July 1, 2002, upon the death of any retiree or participant who at the time of his or her death was not eligible for voluntary...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.228.htm - 9K - Match Info - Similar pages
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