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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...
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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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36-26-36.1
Section 36-26-36.1 Conversion of unused sick leave into membership service for retirement
purposes. (a) Any Tier I plan member of the Teachers' or Employees' Retirement System of Alabama
not otherwise covered by a provision to convert unused sick leave into membership service
for purposes of service retirement may, at their option and in lieu of receiving payment for
50 percent of their accrued and unused sick leave at the time of their retirement as provided
in Section 36-26-36, or any other payment that may be provided for such unused sick
leave, use their accrued sick leave, up to a maximum number of 180 accrued sick leave days
or as otherwise allowed by law, whichever is greater, to be included as membership service
in determining the total years of creditable service in the Employees' Retirement System of
Alabama or the Teachers' Retirement System of Alabama; provided that no employee of an employer
participating in the Employees' Retirement System pursuant to Section 36-27-6...
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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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36-27-1
Section 36-27-1 Definitions. When used in this article, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
RETIREMENT SYSTEM. The Employees' Retirement System of Alabama as defined in Section
36-27-2. (2) EMPLOYEE. Any regular employee of the State of Alabama whose salary is paid by
state warrant by the state, except a member of the Legislature of the state, a person who
is covered or eligible to be covered under the Teachers' Retirement System of Alabama or any
other retirement system to which contributions are made by the state, an elective official
of the state government, and a temporary employee or person engaged under retainer or special
agreement. In all cases of doubt the Board of Control shall determine who is an employee within
the meaning of this article. The term shall include any regular employee of the Alabama state
hospitals and Partlow State School and Hospital and the Alabama State Port Authority,...
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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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36-27-24
Section 36-27-24 Funds for assets of retirement system - Creation; composition; disposition
of funds; appropriations. (a) 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 and 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. (b) Annuity Savings Fund. 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: Effective October 1, 1971, each employer shall...
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36-27-54
Section 36-27-54 Purchase of credit by certain employees of Alabama State Docks Terminal
Railway; waiver of federal railroad retirement benefits; termination date. (a) Any law to
the contrary notwithstanding, any member of the Employees' Retirement System of Alabama who
has 10 or more years of creditable service in the Employees' Retirement System of Alabama
immediately prior to October 1, 1990 and who is employed by the State of Alabama at the time
this bill becomes law, may hereby claim and purchase credit within the Employees' Retirement
System of Alabama for all the time which such member has served as an employee of the Alabama
State Docks and was paid through the Alabama State Docks Terminal Railway payroll and for
which he is not otherwise eligible for credit in the Employees' Retirement System or any other
retirement plan funded in whole or in part by the state except under the United States Social
Security Act. (b) Any member eligible to claim and purchase such credit for...
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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...
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36-27-55.2
Section 36-27-55.2 Purchase of credit for prior service with State Economic Opportunity
Office. (a)(1) Any member of the Employees' Retirement System of Alabama shall be eligible
to receive up to 10 years of creditable service for service which was rendered between January
1, 1971, and December 31, 1983, as an employee of the State Economic Opportunity Office under
the Alabama Development Office, provided that the member of the retirement system claiming
the credit shall have attained not less than 10 years of contributing membership service credit,
exclusive of military service credit, under the Employees' Retirement System; and, provided
further, that the member performs and complies with the conditions prescribed in subdivision
(2). (2) A member of the Employees' Retirement System of Alabama eligible to purchase service
credit in the system under paragraph a. of this subdivision, may receive credit for the prior
service rendered as provided in subdivision (1), provided that as...
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