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45-37A-51.245
Section 45-37A-51.245 Retroactive deferred retirement option plan. (a) Effective July 1, 2002,
a participant who retires at least 90 days following July 1, 2002, who has then completed
at least 23 years of credited service, and who is otherwise entitled to retire and receive
a normal retirement benefit, shall have the opportunity to elect a back drop plan. A participant
eligible for the back drop plan can elect in writing at his or her retirement to retroactively
drop his or her credited service in excess of 20 years, for a period of months not exceeding
36 months immediately preceding the date of retirement, the back drop period; provided that
the beginning of the back drop period may not extend past the earliest date on which the participant
would have qualified for a normal retirement benefit. A participant who is not actively employed
may not make a back drop election. To be effective, a back drop election by a married participant
shall be approved in writing by his or her spouse....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.245.htm - 5K - Match Info - Similar pages
45-37A-52.228
Section 45-37A-52.228 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...
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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-51.07
Section 45-37A-51.07 Retirement allowance and survivor's allowance. (a)(1) The words, terms,
and phrases of this section shall have the meaning ascribed to them by Act 929, unless it
appears from the context that a different meaning is intended. As used in this section and
Section 45-37A-51.11, these words and terms have the meanings hereby accorded them: a. DEFERRED
PENSION UNDER THE GENERAL RETIREMENT AND RELIEF SYSTEM. A pension granted to a firefighter
or police officer under Act 929, the payment of which does not commence until the pension
granted to such firefighter or police officer under this subpart ceases. b. DISABLED CHILD.
A firefighter's or police officer's son or daughter regardless of age who becomes disabled
prior to attaining age 18 with a medically determinable physical or mental impairment or impairments,
by reason of which impairment, or impairments, the son or daughter has been unable, and continues
to be unable, to engage in any substantially gainful activity. c....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.07.htm - 8K - 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
45-37-123.01
Section 45-37-123.01 Definitions. For the purposes of this part, the following terms shall
have the following meanings: (1) ACT. The act adding this part, to be called the General Retirement
System for Employees of Jefferson County Act. (2) ACTIVE MEMBER. An individual who currently
is employed by the county or other entities set forth in subdivision (20) and is making employee
contributions to the system. (3) ACTUARIAL EQUIVALENT. Effective July 30, 1984, or such other
dates as set forth in Exhibit A, which is maintained in the office of the pension board, a
form of benefit differing in time, period, or manner of payment from a specific benefit provided
under the plan but having the same value when computed using the mortality tables, the interest
rate, and any other assumptions last adopted by the pension board, which assumptions shall
clearly preclude any discretion in the determination of the amount of a member's benefit.
(4) ACTUARIAL GAIN. As defined in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.01.htm - 27K - Match Info - Similar pages
45-8A-22.118
Section 45-8A-22.118 Maximum benefits; limitations; adjustments. (a) Annual Benefit and Final
Regulations Under Internal Revenue Code Section 415. (1) Annual Benefit. For purposes of this
section, "annual benefit" means the benefit payable annually under the terms of
the plan, exclusive of any benefit not required to be considered for purposes of applying
the limitations of Internal Revenue Code Section 415 to the plan, in the form of a straight
life annuity with no ancillary benefits. If the benefit is payable in any other form, the
annual benefit shall be adjusted to the equivalent of a straight life annuity pursuant to
subsection (c). (2) Final Regulations Under Internal Revenue Code Section 415. Notwithstanding
anything in this section to the contrary, the following provisions apply beginning on or after
January 1, 1976, except as otherwise provided in this section. a. Incorporation by Reference.
The limitations, adjustments, and other requirements prescribed in the plan shall...
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12-18-113
Section 12-18-113 Transfer of contributions and creditable service - Probate judge's adjusted
benefit formulas; spouse's benefits. In the event a member of the Judicial Retirement Fund,
who is a probate 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 probate judge shall be an
annual amount equal to the sum of: a. The amount which results when 75 percent of the base
sum or salary upon which such judge was contributing, as provided in Section 12-18-82, immediately
prior to retirement is multiplied by the ratio created when the member's number of years of
creditable service, excluding transferred credit, is compared to...
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45-8A-22.119
Section 45-8A-22.119 Death benefits. (a) Participant Death in the Line of Duty. (1) Effective
for Deaths Occurring Before October 1, 2012. a. Surviving Spouse. If a participant dies as
a result of injuries received in the line of duty and leaves a surviving spouse, the retirement
board shall direct the payment to the surviving spouse of a monthly pension equal to Option
B-100 percent joint and survivor plan, described in Section 45-8A-22.120, based on a 30-year
service retirement. b. No Surviving Spouse and Surviving Children. If a participant dies as
a result of injuries received in the line of duty and leaves no surviving spouse or the surviving
spouse should die, and if the participant leaves a surviving child or children under the age
of 18 years, then a benefit of 50 percent of the amount the participant would have been paid
under the 100 percent joint and survivor plan based on a 30-year service retirement shall
be paid to the legal guardian of the child or children then under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.119.htm - 11K - Match Info - Similar pages
12-18-111
Section 12-18-111 Transfer of contributions and creditable service - Eligibility requirements;
adjusted benefits; formulas; district or probate judges excepted; spouses benefits. (a) Any
member of the Judicial Retirement Fund of Alabama whose creditable service and contributions
have been certified and transferred to the Judicial Retirement Fund, shall be entitled to
retire under the said fund on service or disability, upon attaining sufficient years of age
and creditable service, including credit for service transferred to the fund under the provisions
of this article, to qualify for said retirement, in accordance with the service and age requirements
contained in this chapter for the judicial position in which such member is serving at the
time of retirement, subject to the adjustments in benefits and allowances provided for in
this section. The surviving spouse of a member of the Judicial Retirement Fund shall be entitled
to count or employ creditable service certified and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-111.htm - 6K - Match Info - Similar pages
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