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36-27C-2
Section 36-27C-2 Definitions. As used in this chapter, the following terms have the following
meanings: (1) BOARD. The Board of Control of the Public Employees Defined Contribution Savings
Fund. (2) ELIGIBLE EMPLOYER. An employer or other entity who compensates a participant for
the public service. (3) FUND. The Public Employees' Defined Contribution Savings Fund. (4)
PARTICIPANT. A person who elects to participate in the fund who makes voluntary employee contributions
into a 457 deferred compensation or a 403(b) tax sheltered annuity plan, who is not a public
school employee and who meets any of the following requirements: a. Is a member of the Teachers'
Retirement System. b. Is a member of the Employees' Retirement System. c. Is a member of the
Judicial Retirement Fund. d. Is an employee of an employer eligible to participate in the
Employees' Retirement System pursuant to Section 36-27-6 which elects to participate. e. Is
a public official or public employee of the State of Alabama...
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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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36-27-84
Section 36-27-84 Board of Control's and employer's duties and responsibilities; employers may
elect to come under provisions. (a) Commencing with the fiscal year beginning October 1, 1988,
the Board of Control of the Employees' Retirement System shall determine annually the amount
required to pay the cost of the increased allowance provided under Sections 36-27-80 and 36-27-82
of this article and shall notify the chief fiscal officer of each employer the percentum rates
of earnable compensation of the numbers required to be paid to the retirement system. Each
employer of members of the Employees' Retirement System of Alabama shall pay on account of
the increases provided in Sections 36-27-80 and 36-27-82 in the same manner and from the same
source of funds as provided in Sections 36-27-24 and 36-27-7, it being the intent of the Legislature
that the cost of providing the increases in Sections 36-27-80 and 36-27-82 of this article
shall be distributed from all funds in proportion to the...
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36-27-2
Section 36-27-2 Creation; designation; purpose, powers, privileges, management, etc., thereof
generally; powers, duties, etc., of Board of Control; immunity of state officers, etc. (a)
A retirement system is hereby established as a body corporate and placed under the management
of the Board of Control for the purpose of providing retirement allowances and other benefits
under the provisions of this article for employees of the State of Alabama. The retirement
system so created shall be established as of October 1, 1945. It shall have the power and
privileges of a corporation and shall be known as the "Employees' Retirement System of
Alabama," and by such name all of its business shall be transacted, all of its funds
invested and all of its cash and securities and other property held in trust for the purpose
for which received. (b) Any provision of law to the contrary notwithstanding, the Boards of
Control of the Teachers' Retirement System of Alabama and the Employees' Retirement...
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16-25-2
Section 16-25-2 Name and date of establishment; powers, duties, etc., of Boards of Control;
immunity of officers, employees, etc. (a) There shall be a retirement system which shall constitute
a body corporate and shall be under the management of the Board of Control for the purpose
of providing retirement allowances and other benefits under the provisions of this chapter
for teachers of the State of Alabama. The retirement system shall be established as of October
1, 1940, or as soon thereafter as the Governor by proclamation declares the funds accruing
to the Teachers' Retirement System of Alabama are sufficient to meet the obligations of the
"normal contribution" on October 1, of a year following 1940. It shall have the
power and privileges of a corporation and shall be known as the "Teachers' Retirement
System of Alabama," and by such name all of its business shall be transacted, all of
its funds invested and all of its cash and securities and other property held in trust for
the...
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16-25C-2
Section 16-25C-2 Definitions. As used in this chapter, the following terms have the following
meanings: (1) BOARD. The Board of Control of the Public Education Employees' Defined Contribution
Savings Fund. (2) ELIGIBLE EMPLOYER. An employer or other entity who compensates a participant
for the public service. (3) FUND. The Public Education Employees' Defined Contribution Savings
Fund. (4) PARTICIPANT. A person who elects to participate in the fund who makes voluntary
employee contributions into a 457 deferred compensation plan or a 403(b) tax sheltered annuity
plan and who is a member of the Teachers' Retirement System. (Act 2001-704, p. 1562, ยง2.)...
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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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36-27-18
Section 36-27-18 Retirement with not less than 30 years' creditable service. (a) In addition
to any law or part of any law relating to service retirement under the Employees' Retirement
System of Alabama, any member of the Employees' Retirement System who withdraws from service
after the completion of not less than 30 years of creditable service may retire without a
reduction in retirement allowance upon written application to the Board of Control of the
Employees' Retirement System setting forth the first day of which month, not less than 30
days nor more than 90 days subsequent to the execution and filing thereof, he desires to be
retired. (b) All retirement allowance payments due on or after January 1, 1976, to members
of the Employees' Retirement System of Alabama who retired prior to said date shall be redetermined
as if the provisions of this section were in effect at the time they retired; provided, that
any increase in the retirement allowance payment for a member who retired...
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36-27-52
Section 36-27-52 Coverage for official court reporters. (a) Any person serving as an official
court reporter on August 13, 1987, shall have one year from such date to elect to be covered
by the Employees' Retirement System of Alabama in lieu of eligibility to become a supernumerary
court reporter. All elections under this provision shall be in writing and filed with the
Administrative Office of Courts and with the Board of Control of the state Employees' Retirement
System within the election period heretofore set forth. Provided, however, that the failure
of any person to elect coverage under the Employees' Retirement System shall not affect their
eligibility to qualify for supernumerary status and any official circuit court reporter who
was employed on August 13, 1987, and did not elect to be covered by the Employees' Retirement
System of Alabama may, upon reemployment as an official court reporter after a lapse in service,
continue to accumulate creditable service towards eligibility...
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36-27-125
Section 36-27-125 Pensioners who retired prior to membership of employer in system. (a) Any
pensioner or beneficiary who retired from a city, town, county, or public or quasi-public
organization of the state before the city, town, county, or public or quasi-public organization
of the state became a member of the Employees' Retirement System, and who is receiving a monthly
benefit on October 1, 1994 administered by the Employees' Retirement System, may receive an
increase in benefits in the amount of not less than sixty dollars ($60) nor more than one
hundred dollars ($100) per month if the city, town, county, or public or quasi-public organization
of the state elects to fund the increase, provided the pensioner retired prior to October
1, 1994. (b) Notwithstanding subsection (a), any pensioner or annuitant of a city, town, county,
or public or quasi-public organization who receives his or her monthly benefit from a source
other than the Employees' Retirement System may receive an...
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