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36-27-25
Section 36-27-25 Funds for assets of retirement system - Management. (a) The Board of
Control shall be the trustees of the several funds of the Employees' Retirement System created
by this article as provided in Section 36-27-24 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 person acting in a like capacity and familiar
with such matters would use in the conduct of an enterprise of a like character and with like
aims. 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 in Section...
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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...
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36-27-23
Section 36-27-23 Board of Control; medical board, actuary. (a) The general administration
and responsibility for the proper operation of the retirement system and for making effective
the provisions of this article are hereby vested in a board of trustees which shall be known
as the Board of Control. (b) The board shall consist of 13 trustees as follows: (1) The Governor,
ex officio, who shall be chairman. (2) The State Treasurer, ex officio. (3) The State Personnel
Director, ex officio. (4) The Director of Finance, ex officio. (5) Three members of the retirement
system, to be appointed by the Governor, no two of whom shall be from the same department
of the state government nor from any department of which an ex officio trustee is the head.
The state employees appointed pursuant to this section shall be Merit System employees
with at least ten years of creditable state service and shall not be a department head or
an assistant department head. The terms of office of the three members...
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16-25A-2
Section 16-25A-2 Public Education Employees' Health Insurance Board; membership, compensation,
oath of office, officers, staff, etc. (a) The Public Education Employees' Health Insurance
Board shall consist of the members of the Board of Control of the Teachers' Retirement System
of Alabama; (b) Board members shall serve without compensation for their services as board
members, but shall be reimbursed from the fund established in subsection (f) of Section
16-25A-8 for all necessary expenses that they may incur through service on the board; (c)
Each board member shall, within 10 days after his appointment or election to the Board of
Control of the Teachers' Retirement System, take an oath of office that, so far as it devolves
on him, he will diligently and honestly administer the affairs of the board herein established,
and that he will not knowingly violate, or willingly permit to be violated, any of the provisions
of law applicable to the Public Employees' Health Insurance Plan. Such...
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16-25-19
Section 16-25-19 Administration. (a) The general administration and responsibility for
the proper operation of the retirement system and for making effective the provisions of this
chapter are hereby vested in a board of trustees which shall be known as the Board of Control
and shall be organized immediately after a majority of the trustees provided for in this section
shall have qualified and taken the oath of office. (b) The board shall consist of 15 trustees
as follows: (1) The State Superintendent of Education, ex officio. (2) The State Treasurer,
ex officio. (3) The state Director of Finance, ex officio. (4) Twelve elected members of the
retirement system. Those 12 members shall consist of representatives elected from each of
the following categories: two shall be retired members, one shall be a city or county superintendent,
one shall be a principal, one shall be a member from an institution of postsecondary education
that is part of the Alabama Community College System, two...
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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...
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16-25-5
Section 16-25-5 Transfer of membership in Employees' Retirement System of Alabama, etc.,
of janitors, maids, cafeteria workers and other full-time employees in public education. (a)
The phrase "public education," as used in this section, shall be construed
as meaning and referring to any institution of learning supported wholly by public funds,
regardless of whether such institution is under the control and supervision of the State Department
of Education. (b) All janitors, maids, cafeteria workers and any other full-time employees
in public education, regardless of in what manner or on what basis paid, covered in the Employees'
Retirement System of Alabama under the provisions of Section 36-27-6 on October 1,
1975 shall be enrolled and transferred to the Teachers' Retirement System of Alabama by their
employer with all credit as has been established in the Employees' Retirement System of Alabama.
(c) All janitors, maids, cafeteria workers and any other full-time employees in public...
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45-37A-51.03
Section 45-37A-51.03 Board of managers. (a)(1) In order to assure representation of
all participants of this system, there shall be a board of managers of five members for the
administration, management, and control of the supplemental pension system, including administration,
management, control, acquisition, and disbursement of the fund. The board shall consist of
the president of the governing body of the city, who shall be chair of the board, and four
associate members, designated respectively as Member No. 1, Member No. 2, Member No. 3, and
Member No. 4. (2) Member No. 1 shall be appointed by the Jefferson County Personnel Board
and shall be a person who at the time of appointment has had five or more consecutive years
immediately preceding his or her appointment and has been an officer of, or the occupant of
an executive position in insurance, actuarial, investment, banking, or as a certified public
accountant and shall serve for a term of four years. Should the appointed Member...
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9-18-1
Section 9-18-1 Enactment of Southern Interstate Nuclear Compact. The Southern Interstate
Nuclear Compact is hereby enacted into law and entered into by the state of Alabama with any
and all states legally joining therein in accordance with its terms, in the form substantially
as follows: "SOUTHERN INTERSTATE NUCLEAR COMPACT "Article I. Policy and Purpose
"The party states recognize that the proper employment of nuclear energy, facilities,
materials, and products can assist substantially in the industrialization of the south and
the development of a balanced economy for the region. They also recognize that optimum benefit
from and acquisition of nuclear resources and facilities requires systematic encouragement,
guidance, and assistance from the party states on a cooperative basis. It is the policy of
the party states to undertake such cooperation on a continuing basis; it is the purpose of
this compact to provide the instruments and framework for such a cooperative effort to improve...
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9-18A-1
Section 9-18A-1 Enactment of Southern States Energy Compact. The Legislature hereby
enacts, and the State of Alabama hereby enters into, the Southern States Energy Compact with
any and all states legally joining therein in accordance with its terms, in the form substantially
as follows: "SOUTHERN STATES ENERGY COMPACT "Article I. Policy and Purpose. "The
party states recognize that the proper employment and conservation of energy and employment
of energy-related facilities, materials, and products, within the context of a responsible
regard for the environment, can assist substantially in the industrialization of the south
and the development of a balanced economy for the region. They also recognize that optimum
benefit from an acquisition of energy resources and facilities require systematic encouragement,
guidance and assistance from the party states on a cooperative basis. It is the policy of
the party states to undertake such cooperation on a continuing basis; it is the purpose of...
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