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16-13-231
Section 16-13-231 Purposes and plan of apportionment. (a) In addition to all other appropriations
and apportionments of public school money now provided by law and made available for public
schools there shall be apportioned and paid to local boards of education from the Foundation
Program Fund, the amounts to be determined as hereinafter provided and in accordance with
regulations of the State Board of Education. This Foundation Program Fund shall be used principally:
(1) To aid in providing at least a 180 full instructional day minimum school term, or the
hourly equivalent thereof, except as otherwise provided in paragraph c. of subdivision (1)
of subsection (b); and, (2) To assist in the promotion of educational opportunity for all
children in the public schools. (b) The following requirements and procedures, supplemented
when necessary by regulations of the State Board of Education, shall govern the apportionment
of the fund: (1) REQUIREMENTS FOR PARTICIPATING IN FUND. In order for...
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25-4-51
Section 25-4-51 Rates of contributions, etc., by employers. (a) Contributions. Except
as hereinafter provided and subject to the provisions of Section 25-4-54, every employer
shall pay contributions, or payments in lieu of contributions, equal to the percentages of
wages payable or paid as hereinafter set out, with respect to employment by him. (1) With
respect to employment during calendar years after December 31, 1975, every employer who has
been liable to the provisions of this chapter during a period of time sufficient to have his
rate of contribution determined under the experience rating provisions of Section 25-4-54
shall pay contributions at the rate prescribed thereby. (2) With respect to employment after
December 31, 1975, every employer who has not been liable to the provisions of this chapter
for a sufficient length of time to have his rate determined under the experience rating provisions
of Section 25-4-54 shall pay contributions at the rate of 2.70 percent of such wages...
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45-37-123.22
Section 45-37-123.22 Powers and duties of the pension board. (a) The pension board shall
be responsible for the general administration and proper operation of the plan, and shall
administer the plan for the exclusive benefit of the members and their beneficiaries, subject
to the specific terms of the plan. The pension board shall administer the plan in accordance
with its terms and shall have the power and discretion to construe the terms of the plan and
the act and to determine all questions arising in connection with the administration, interpretation,
and application of the plan. Any such determination by the pension board shall be conclusive
and binding upon all persons. The pension board may establish procedures, correct any defect,
supply any information, or reconcile any inconsistency in such manner and to such extent as
shall be deemed necessary or advisable to carry out the purpose of the plan; provided, however,
that any procedure, discretionary act, interpretation, or...
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12-17-227.6
Section 12-17-227.6 (Effective November 8, 2016, subject to contingencies) Payments
from plan; optional allowances; replacement beneficiaries. (a) Should a member cease to be
a district attorney except by death or by retirement under the provisions of this division,
the contributions standing to the credit of his or her individual account in the fund shall
be paid to him or her upon demand and, in addition to such payment, there shall be paid five-tenths
of the interest accumulations standing to the credit of his or her individual account if he
or she shall have not less than three but less than 16 years of membership service, six-tenths
of such interest accumulations if he or she shall have not less than 16 but less than 21 years
of membership service, seven-tenths of such interest accumulations if he or she shall have
not less than 21 but less than 26 years of membership service and eight-tenths of such interest
accumulations if he or she shall have not less than 26 years of...
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45-37-123.133
Section 45-37-123.133 Annual benefit not in excess of $10,000. (a) The plan may pay
an annual benefit to any member in excess of the member's maximum annual benefit if the annual
benefit derived from employer contributions under the plan and all other defined benefit plans
maintained by the county does not in the aggregate exceed ten thousand dollars ($10,000) for
the limitation year or for any prior limitation year and the county has not at any time maintained
a defined contribution plan, a welfare benefit fund under which amounts attributable to postretirement
medical benefits are allocated to separate accounts of key employees, as defined in § 419(A)(d)(3),
Internal Revenue Code, or an individual medical account in which the member participated.
For purposes of this section, if the plan provides for voluntary or mandatory employee
contributions, such contributions shall not be considered a separate defined contribution
plan maintained by the county. (b) However, if a member has...
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45-37-123.151
Section 45-37-123.151 Benefit enhancements. (a) Specifically, but not in limitation
of the pension board's authority to amend the plan as set forth in Section 45-37-123.150,
the pension board may amend the plan to increase or enhance member benefits by cost-of-living
increase, lump sum payment, or in any other form or manner as the pension board may prescribe,
provided that such benefit increases or enhancements have been: (1) Certified in a written
opinion by a competent actuary that the trust fund and the anticipated receipts and liabilities
are sufficient to pay for the increase or enhancement; and (2) Set forth in written rules
and regulations adopted by the pension board. (b) In no event shall a member be entitled to
any benefit increase or enhancement, including any cost-of-living increase. (Act 2013-415,
p. 1586, §2:7.2; Act 2019-243, §1.)...
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11-43-86
Section 11-43-86 Compensation of mayor, etc., of Class 1 municipality; mayor authorized
to attend certain meetings, etc.; applicability of section. (a) The mayor or other
chief executive officer of any Class 1 city shall be paid, in addition to the compensation
provided by law for the office, the additional sum of $1,833.33 per month, payable in advance
on the first day of each month as an allowance for expenses incident to the office of mayor,
for which the mayor shall not be required to file an accounting. (b) All other provisions
of law notwithstanding, the mayor may elect in writing to have the expense allowances authorized
by subsection (a) and by subsection (a) of Section 11-43-7.1 treated as subject to
withholding of any employee contribution required to be paid into the trust fund provided
under any pension or retirement system in which the mayor is eligible to participate. The
mayor may also elect in writing within 90 days of October 9, 1992 to pay into the pension
or...
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45-37-123.100
Section 45-37-123.100 Retirement benefits. (a) Superannuation retirement benefit. (1)
ELIGIBILITY. A member shall be eligible for a superannuation retirement benefit if: a. The
member has 30 or more years of paid membership time, regardless of age; b. The member has
10 or more years of paid membership time and has attained the age of 60; or c. The member
has 30 years of service, 20 years of which are paid membership time, and has attained the
age of 55. (2) CALCULATION OF BENEFIT. If a member meets the foregoing eligibility criteria,
then the member shall be eligible to retire and receive a monthly benefit for the remainder
of his or her life to be determined by the following formula: a. Two and one-half percent
multiplied by the basic average salary multiplied by the number of years of paid membership
time; plus b. Five-eights of one percent multiplied by the basic average salary multiplied
by the number of years of unpaid membership time, if applicable. (3) SEVENTY-FIVE PERCENT...
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12-18-156
Section 12-18-156 Payments from plan; optional allowances; replacement beneficiaries.
(a) Should a member cease to be a judge or clerk except by death or by retirement under the
provisions of this article, the contributions standing to the credit of his or her individual
account in the fund shall be paid to him or her upon demand and, in addition to such payment,
there shall be paid five-tenths of the interest accumulations standing to the credit of his
or her individual account if he or she shall have not less than three but less than 16 years
of membership service, six-tenths of such interest accumulations if he or she shall have not
less than 16 but less than 21 years of membership service, seven-tenths of such interest accumulations
if he or she shall have not less than 21 but less than 26 years of membership service and
eight-tenths of such interest accumulations if he or she shall have not less than 26 years
of membership service. (b) In case of the death of a member eligible for...
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35-4A-5
Section 35-4A-5 Exclusions from statutory rule against perpetuities. Section
35-4A-2, the statutory rule against perpetuities, does not apply to: (1) a nonvested property
interest or a power of appointment arising out of a nondonative transfer, except a nonvested
property interest or a power of appointment arising out of (i) a premarital or postmarital
agreement, (ii) a separation or divorce settlement, (iii) a spouse's election, (iv) a similar
arrangement arising out of a prospective, existing, or previous marital relationship between
the parties, (v) a contract to make or not to revoke a will or trust, (vi) a contract to exercise
or not to exercise a power of appointment, (vii) a transfer in satisfaction of a duty of support,
or (viii) a reciprocal transfer; (2) a fiduciary's power relating to the administration or
management of assets, including the power of a fiduciary to sell, lease, or mortgage property,
and the power of a fiduciary to determine principal and income; (3) a power...
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