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45-37-123.131
Section 45-37-123.131 Maximum annual benefit. (a) Notwithstanding the foregoing and subject
to the exceptions and adjustments below, effective for limitation years ending after December
31, 2001, the annual benefit otherwise payable to a member under the plan at any time shall
not exceed the maximum annual benefit, and if the benefit a member would otherwise accrue
in a limitation year would produce an annual benefit in excess of the maximum annual benefit,
the benefit shall be limited, or the rate of accrual reduced, to a benefit that does not exceed
the maximum annual benefit. The maximum annual benefit payable to a member under the plan
in any limitation year shall equal the defined benefit dollar limitation. The defined benefit
dollar limitation is one hundred sixty thousand dollars ($160,000), as adjusted, effective
January 1 of each year, under § 415(d), Internal Revenue Code, in such manner as the secretary
shall prescribe, and payable in the form of a straight life annuity....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.131.htm - 5K - Match Info - Similar pages
45-37A-51.191
Section 45-37A-51.191 Employer pickup of employee contributions. The board of managers upon
approval of each employer, including the board of health, shall have authority to adopt a
program and plan amendments relating to that employer's employees meeting the requirements
of the United States Internal Revenue Code, as amended, to allow employer payment of required
participant contributions in lieu of salary or wages. (Act 2006-339, p. 851, Art. V, §2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.191.htm - 774 bytes - Match Info - Similar pages
45-37A-51.248
Section 45-37A-51.248 Direct rollovers. (a) Notwithstanding any provision of this subpart to
the contrary that would otherwise limit a distributee's election under this section, a distributee
may elect, at the time and in the manner prescribed by the board, to have any portion of an
eligible rollover distribution that is equal to at least five hundred dollars ($500) paid
directly to an eligible retirement plan specified by the distributee in a direct rollover.
(b) For purposes of this section the following definitions shall apply: (1) ELIGIBLE ROLLOVER
DISTRIBUTION. Any distribution of all or any portion of the balance to the credit of the distributee,
except that an eligible rollover distribution does not include: Any distribution that is one
of a series of substantially equal periodic payments, not less frequently than annually, made
for the life, or life expectancy, of the distributee or the joint lives, or joint life expectancies,
of the distributee and the distributee's designated...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.248.htm - 3K - Match Info - Similar pages
27-44-5
Section 27-44-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Either
of the three accounts created under Section 27-44-6. (2) ASSOCIATION. The Alabama Life and
Disability Insurance Guaranty Association created under Section 27-44-6. (3) AUTHORIZED ASSESSMENT
or the term AUTHORIZED when used in the context of assessments. A resolution by the board
of directors has been passed whereby an assessment will be called immediately or in the future
from member insurers for a specified amount. An assessment is authorized when the resolution
is passed. (4) BENEFIT PLAN. A specific employee, union, or association of natural persons
benefit plan. (5) CALLED ASSESSMENT or the term CALLED when used in the context of assessments.
A notice that has been issued by the association to member insurers requiring that an authorized
assessment be paid within the time frame set forth within...
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40-18-19
Section 40-18-19 Exemptions - Generally. (a) The following exemptions from income taxation
shall be allowed to every individual resident taxpayer: (1) Retirement allowances, pensions
and annuities, or optional allowances, approved by the Board of Control of the Teachers' Retirement
System of Alabama, which exempt status is set out in Section 16-25-23. (2) Retirement allowances,
pensions and annuities or optional allowances, approved by the Board of Control of the Employees'
Retirement System of Alabama, which exempt status is set out in Section 36-27-28. (3) The
first eight thousand dollars ($8,000) of any retirement compensation, retirement allowances,
pensions and annuities, or optional allowances, received by any eligible firefighter, as defined
in Sections 36-32-1 and 36-32-2, or his or her designated beneficiary, from any firefighting
agency established in the State of Alabama, but only if such retirement compensation, retirement
allowances, pensions and annuities, or optional...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-19.htm - 9K - Match Info - Similar pages
45-37A-51.242
Section 45-37A-51.242 Cost of living increases; future benefits (a) Upon approval of the governing
body of the municipality primarily served by the system and upon approval of the board of
managers, an increase in the amount of benefits, including improvements in the terms of benefits:
(1) for future retirees, benefits or improvements such as earlier vesting, decreased retirement
age, increase in multiplier used in calculating monthly benefit, or other like improvements
may be granted; and (2) for current retirees cost of living increases may be granted, subject
to the requirements of the United States Internal Revenue Code and regulations therewith.
Such increases shall apply to participants or retirees of the board of health. (b) Prior to
approving an increase in the above described benefits, the board shall obtain the actuarial
evaluation of the fund. Such evaluation shall project the actuarial cost of benefits for the
succeeding plan year and shall combine therewith the applicable...
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27-55-2
Section 27-55-2 Definitions. As used in this chapter, these terms shall have the following
meanings: (1) ABUSE. The occurrence of one or more of the following acts by a family or household
member, as defined by subdivision (3) of subsection (b) of Section 15-10-3: a. Attempting
to cause or intentionally, knowingly, or recklessly causing another person, including a minor
child, bodily injury, severe emotional injury, or psychological trauma or conduct which constitutes
the crime of rape. b. Intentionally following another person, including a minor child, without
proper authority, under circumstances that place the person in reasonable fear of bodily injury
or physical harm. c. Subjecting another person, including a minor child, to false imprisonment
or kidnapping. d. Attempting to cause or intentionally, knowingly, or recklessly causing damage
to property to intimidate or attempt to control the behavior of another person, including
a minor child. e. Assault, child abuse, criminal...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-55-2.htm - 5K - Match Info - Similar pages
10A-2-8.57
Section 10A-2-8.57 Insurance. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. A corporation may purchase and
maintain insurance, or furnish similar protection, including but not limited to trust funds,
self-insurance reserves, or the like, on behalf of an individual who is or was a director,
officer, employee, or agent of the corporation, or who, while a director, officer, employee,
or agent of the corporation, is or was serving at the request of the corporation as a director,
officer, partner, trustee, employee, or agent of another foreign or domestic corporation,
partnership, joint venture trust, employee benefit plan, or other enterprise, against liability
asserted against or incurred by him or her in that capacity or arising from his or her status
as a director, officer, employee, or agent, whether or not the corporation would have power
to indemnify him or her against the same liability under Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-8.57.htm - 1K - Match Info - Similar pages
11-91A-3
Section 11-91A-3 Employee, retiree, and dependent coverage; premiums; summary documents. (a)
All full-time employees, elected officials, and retirees of employer participants who are
eligible for health care benefits for themselves or their dependents under the provisions
of the program shall be entitled to coverage and benefits as designated by the board. (b)
Each employee and retiree shall be entitled to have his or her spouse and dependent children,
as those persons are defined by the board, included in the coverage under rules and regulations
promulgated by the board upon agreeing to pay the employee's contribution of the health care
premium for the dependents. The board shall adopt rules and regulations governing the discontinuance
and resumption of coverage for dependents by the employees and retirees. The board shall adopt
rules governing the discontinuance and resumption of coverage for dependents by the employees
and retirees. (c) The board shall establish premiums required...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-91A-3.htm - 2K - Match Info - Similar pages
19-3B-1304
Section 19-3B-1304 Trusts for employees or self-employed persons. (a) A trust of real or personal
property or real and personal property combined: (1) which is created by an employer as part
of a stock bonus plan, pension plan, disability or death benefit plan, or profit-sharing plan,
for the exclusive benefit of some or all his or her employees, to which contributions are
made by such employer or employees, or both, for the purpose of distribution to such employees
the earnings of the principal, or both earnings and principal of the fund so held in trust;
or (2) which is created by a self-employed person or group of self-employed persons and: a.
which is part of a retirement, disability, or death benefit plan for such self-employed person
or persons; and b. contributions to which are deductible, in whole or in part, from gross
income for federal income tax purposes under the internal revenue laws of the United States;
or (3) which is created for the collective investment of the funds...
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