36-27-16.1
Section 36-27-16.1 Cancellation of survivor allowance. (a) Any member of the Teachers' Retirement System of Alabama or the Employees' Retirement System of Alabama who is retired and who has selected a survivor option may cancel the survivor allowance payable to his designated beneficiary. Such election shall be in accordance with the rules and regulations prescribed by the Board of Control and once made by the member shall be irrevocable. Any member who so elects to cancel a survivor allowance shall designate such new beneficiary as he shall nominate to receive a pro rata payment for the number of days said member shall live during the month of his death. Any cancellation of a survivor allowance under the provisions of this section shall be irrevocable by the member and payment of the pro rata amount for the number of days said member lives during the month of his death shall be in lieu of any other benefits heretofore payable under the provisions of the teachers' retirement law or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-16.1.htm - 1K - Match Info - Similar pages
12-18-157
Section 12-18-157 (Effective November 8, 2016, subject to contingencies) Cancellation of survivor allowance. Any member of the plan who is retired and who has selected a survivor option may cancel the survivor allowance payable to his or her designated beneficiary. Such election shall be in accordance with the rules and regulations prescribed by the Board of Control and once made by the member shall be irrevocable. Any member who so elects to cancel a survivor allowance shall designate such new beneficiary as he or she shall nominate to receive a pro rata payment for the number of days the member shall live during the month of his or her death. Any cancellation of a survivor allowance under the provisions of this section shall be irrevocable by the member and payment of the pro rata amount for the number of days the member lives during the month of his or her death shall be in lieu of any other benefits heretofore payable. (Act 2015-498, §9.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-157.htm - 1K - Match Info - Similar pages
12-17-227.7
Section 12-17-227.7 (Effective November 8, 2016, subject to contingencies) Cancellation of survivor allowance. Any member of the plan who is retired and who has selected a survivor option may cancel the survivor allowance payable to his or her designated beneficiary. Such election shall be in accordance with the rules and regulations prescribed by the Board of Control and once made by the member shall be irrevocable. Any member who so elects to cancel a survivor allowance shall designate such new beneficiary as he or she shall nominate to receive a pro rata payment for the number of days the member shall live during the month of his or her death. Any cancellation of a survivor allowance under the provisions of this section shall be irrevocable by the member and payment of the pro rata amount for the number of days the member lives during the month of his or her death shall be in lieu of any other benefits heretofore payable. (Act 2015-498, §25.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-17-227.7.htm - 1K - Match Info - Similar pages
12-18-156
Section 12-18-156 Payments from plan; optional allowances; replacement beneficiaries. (a) Should a member cease to be a judge or clerk except by death or by retirement under the provisions of this article, the contributions standing to the credit of his or her individual account in the fund shall be paid to him or her upon demand and, in addition to such payment, there shall be paid five-tenths of the interest accumulations standing to the credit of his or her individual account if he or she shall have not less than three but less than 16 years of membership service, six-tenths of such interest accumulations if he or she shall have not less than 16 but less than 21 years of membership service, seven-tenths of such interest accumulations if he or she shall have not less than 21 but less than 26 years of membership service and eight-tenths of such interest accumulations if he or she shall have not less than 26 years of membership service. (b) In case of the death of a member eligible for...
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36-27-16
Section 36-27-16 Retirement, etc., of employees; retirement allowances. (a)(1) RETIREMENT, ETC., OF EMPLOYEES GENERALLY; ELIGIBILITY FOR SERVICE RETIREMENT BENEFITS. a. Any Tier I plan member who withdraws from service upon or after attainment of age 60 and any Tier II plan member who withdraws from service upon or after attainment of age 62 may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired; provided, that any such member who became a member on or after October 1, 1963, shall have completed 10 or more years of creditable service; provided further, that a Tier I plan member employed as a state policeman shall be eligible to file application for service retirement upon attaining age 52 and a Tier II plan member employed as a state policeman or employed as a correctional officer, firefighter, or law enforcement officer as defined...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-16.htm - 34K - Match Info - Similar pages
36-27-81
Section 36-27-81 Amount of increase - Persons whose employer elects to come under provisions. There is hereby provided to each person whose employer elects to come under the provisions of this article and whose retirement is based on 51 or more percent service to an employer participating under Section 36-27-6, and whose effective date of retirement for purposes of receiving benefits from the Employees' Retirement System is prior to October 1, 1987, and to certain beneficiaries of deceased members and deceased retirees of such employers, provided the effective date of death or retirement for such deceased retiree or deceased member for purposes of receiving benefits from the Employees' Retirement System was prior to October 1, 1987, and who is receiving a monthly allowance from the Employees' Retirement System a cost-of-living increase as follows: (1) One dollar per month for each year of service attained by said retiree plus $3.50 per month for each year of retirement attained by said...
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36-27-88
Section 36-27-88 Amount of increase - Persons whose retirement is based on 51 or more percent service to employer participating under Section 36-27-6. There is hereby provided to each person whose employer elects to come under the provisions of this act and whose retirement is based on 51 or more percent service to an employer participating under Section 36-27-6, and whose effective date of retirement for purposes of receiving benefits from the Employees' Retirement System is prior to October 1, 1989, and to certain beneficiaries of deceased members and deceased retirees of such employers, provided the effective date of death or retirement for such deceased retiree or deceased member for purposes of receiving benefits from the Employees' Retirement System was prior to October 1, 1989, and who is receiving a monthly allowance from the Employees' Retirement System a cost-of-living increase as follows: (1) $1.00 per month for each year of service attained by said retiree plus $3.00 per...
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16-25-14
Section 16-25-14 Retirement of members; benefits generally. (a)(1) Any Tier I plan member who withdraws from service upon or after attainment of age 60 and any Tier II plan member who withdraws from service upon or after attainment of age 62, or in the case of a Tier II plan member who is a correctional officer, firefighter, or law enforcement officer as defined in Section 36-27-59, who withdraws from service upon or after attainment of age 56 with at least ten years of creditable service as a correctional officer, firefighter, or law enforcement officer may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired; provided, that any such member who became a member on or after October 1, 1963, shall have completed 10 or more years of creditable service. (2) Any Tier I plan member who has attained age 60 and any Tier II plan member who...
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45-37A-51.09
Section 45-37A-51.09 Compensation limits; forfeitures; required minimum. (a) Compensation in excess of one hundred sixty thousand dollars ($160,000), or such other amount provided in the Internal Revenue Code of 1986, as amended, shall be disregarded. Such amount shall be adjusted for increases in the cost-of-living in accordance with Section 401(a)(17)(B), except that the dollar increase in effect on January 1 of any calendar year shall be effective for the fiscal years beginning with or within such calendar year. If compensation for any prior determination period is taken into account in determining a participant member's benefits for the current fiscal year, the compensation for such prior determination period is subject to the applicable annual compensation limit in effect for that prior period. (b) Notwithstanding the foregoing and to the extent applicable to governmental plans as such are defined in Section 414(d) of the Internal Revenue Code of 1986, as amended, in no event may...
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16-25-21
Section 16-25-21 Method of financing. Effective October 1, 1997, all the assets of the retirement system shall be credited according to the purpose for which they are held among three funds, namely: The Annuity Savings Fund, the Pension Accumulation Fund, and the Expense Fund. The operation of the former Pension Reserve Fund and the Annuity Reserve Fund shall be discontinued as of such date, the balance of the former Pension Reserve Fund shall be transferred to the Pension Accumulation Fund, and the balance of the former Annuity Reserve Fund shall be transferred to the Pension Accumulation Fund. (1) The Annuity Savings Fund shall be a fund in which shall be accumulated contributions from the compensation of members to provide for their annuities. Contributions to and payments from the Annuity Savings Fund shall be made as follows: a. Each employer shall cause to be deducted from the salary of each member on each and every payroll of such employer for each and every payroll period five...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-21.htm - 15K - Match Info - Similar pages
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