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16-49-29
Section 16-49-29 Conflicts of interest. It shall be unlawful for any member of the board to
derive financial benefit in any form from a contract or transaction affecting the interest
of the university; to procure, or to be a party in any way, to procuring the appointment of
any relative to any position of financial trust or profit; or to influence the appointment
or reappointment, retention, dismissal or compensation of any employee of the university except
through the prescribed procedures for such purposes. The violation of this provision shall
subject the member so offending to removal by the Governor or the board. (Acts 1975, No. 198,
p. 467, §11.)...
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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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16-25C-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, §2.)...
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25-4-133
Section 25-4-133 Penalties for delinquent contribution payments and reports. (a) Any employer
without good cause failing to pay any contribution within the time required by this chapter
or the rules and regulations of the secretary shall be required by the secretary to pay, in
addition thereto, a penalty of 10 percent of the amount thereof, together with interest on
said contributions at the rate prescribed in Section 25-4-132. If the failure to pay on the
part of the employer is due to fraud, an additional penalty of 15 percent shall be assessed
against, and collected from, such defaulting employer. (b) Any employer without good cause
failing to file any quarterly wage and contribution report within the time required by this
chapter or the rules and regulations of the secretary shall be required by the secretary to
pay a penalty of twenty-five dollars ($25) or 10 percent of the net contributions due, whichever
is greater, for his or its failure to file such report when due. Such...
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36-1-5
Section 36-1-5 Right to decline portion of benefit payable under retirement or pension and
relief system; disposition of amounts declined. Any person who is entitled to receive any
retirement pay or allowance, pension, survivor's benefit, disability benefit or other benefit
under any retirement system or pension and relief system established for the benefit of employees
either of the State of Alabama or any department, agency or institution thereof or of any
municipality, county or other subdivision of the state may, at such person's discretion, decline
to accept any portion of the retirement pay or allowance, pension, survivor's benefit, disability
benefit or other benefit which such person is entitled to receive. Each person wishing to
exercise the right granted in this section to decline any portion of any such payment, allowance,
pension or benefit shall file written notice thereof with the governing authority of the retirement
system or pension and relief system in such manner as...
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36-25-12
Section 36-25-12 Offering, soliciting, etc., thing of value to or by member of regulatory body.
No person shall offer or give to a member or employee of a governmental agency, board, or
commission that regulates a business with which the person is associated, and no member or
employee of a regulatory body, shall solicit or accept a thing of value while the member or
employee is associated with the regulatory body other than in the ordinary course of business.
In addition to the foregoing, the Commissioner of the Department of Agriculture and Industries
and any candidate for the office of commissioner may not accept a campaign contribution from
a person associated with a business regulated by the department. (Acts 1973, No. 1056, p.
1699, § 10; Acts 1975, No. 130, p. 603, §1; Acts 1995, No. 95-194, p. 269, § 1; Act 2001-474,
p. 635, § 1.)...
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45-37-123.132
in the plan, then the defined benefit dollar limitation of Section 45-37-123.131(a) shall be
multiplied by a fraction, the numerator of which is the number of years, or part thereof,
of participation in the plan, and the denominator of which is 10. However, in no event shall
such fraction be less than one-tenth. Notwithstanding the foregoing, no adjustment shall be
made to the defined benefit dollar limitation for a distribution on account of a member becoming
disabled by reason of personal injuries or sickness, or as a result of the death of
a member. For purposes of this subsection, a year of participation means each accrual computation
period for which the following conditions are met: The member is credited with a period of
service for benefit accrual purposes, required under the terms of the plan in order to accrue
a benefit for the accrual computation period, and the member is included as a member under
the eligibility provisions of the plan for at least one day of the...
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45-37-123.28
Section 45-37-123.28 Claims procedure. (a) Claims for benefits under the plan shall be filed
in writing with the pension coordinator on forms provided by the pension board in accordance
with procedures established by the pension board and/or the pension coordinator. The procedure
and documents to be produced by a member or beneficiary may differ depending on the type of
benefit claim being made. (b) The pension board may allow a properly designated power of attorney
to act on behalf of a member or beneficiary so long as the act is authorized under the terms
of the power of attorney documentation. (Act 2013-415, p. 1586, §2:2.9.)...
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45-37-123.30
Section 45-37-123.30 Investment authority. (a) The pension board and any investment manager
it appoints are authorized to invest and reinvest the funds of the system in all classes and
forms of bonds, mortgages, common and preferred stocks, shares of investment companies or
mutual funds, or any other investment. The pension board is further authorized to hold, purchase,
sell, assign, transfer, and dispose of any investment in which the funds of the system previously
have been invested as well as the proceeds thereof. (b) No member or employee shall have any
direct interest in the gains or profits of any investment made by the pension board nor shall
any member or employee become an endorser or surety or act in any manner as an obligor for
moneys loaned to or borrowed from the pension board. (Act 2013-415, p. 1586, §2:2.11.)...
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45-37A-51.284
Section 45-37A-51.284 Actuarial assumptions. (a) Effective date. Except as provided by the
Pension Benefit Guaranty Corporation (PBGC) and the Internal Revenue Service, the limitations
of this section shall first apply in determining the amount payable to a participant having
an annuity starting date in a fiscal year beginning on or after January 1, 2008. (b) Applicable
interest rate. For purposes of the fund's provisions relating to the calculation of the present
value of a benefit payment that is subject to § 417(e), Internal Revenue Code, as well as
any other fund provision referring directly or indirectly to the applicable interest rate
or applicable mortality table used for purposes of § 417(e), Internal Revenue Code, any provision
prescribing the use of the annual rate of interest on 30-year United States Treasury securities
shall be implemented by instead using the rate of interest determined by applicable interest
rate described by § 417(e), Internal Revenue Code, after its...
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