45-37-123.150
Section 45-37-123.150 Amendments. (a) The pension board shall have the right at any time to amend the plan, subject to the limitations of this section. Any amendment shall be consistent with the act, any other legislation relating to the system, or consistent with other authority granted to the pension board. Additionally, in the event that the Legislature amends the act or makes other statutory changes that impact the terms of the plan, the pension board shall cause the plan to be amended as necessary to reflect such legislation. The pension board, and each of its individual members, when acting in its or their official capacity, shall be immune from civil liability against the claims of any individual, member, or other entity of any nature whatsoever arising out of the pension board's or its members' administration of the plan or related to its decisions or actions, which decisions or actions were made in good faith, without malice, and predicated upon information that was then...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.150.htm - 2K - Match Info - Similar pages
45-49A-63
Section 45-49A-63 Definitions. As used in this part, the following words and terms shall have meanings as follows: (1) ANNUITY STARTING DATE. The first day for which a benefit is payable as an annuity or any other form under Section 45-49A-63.80. (2) BENEFICIARY. The person or persons named by a member by written designation filed with the board to receive payments under this plan after the member's death. The member may not change his or her beneficiary after his or her annuity starting date. If no beneficiary designation is in effect at the member's death, or if no person so designated survives the member, the member's surviving spouse, if any, shall be deemed to be the beneficiary, otherwise the beneficiary shall be the member's estate. (3) BOARD. The Police and Fire Pension Board as constituted under Section 45-49A-63.120, or its delegate. (4) BREAK IN SERVICE. A period of absence which would constitute a break in the member's service under the Mobile County Personnel Board rules;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-63.htm - 6K - Match Info - Similar pages
45-37-123.104
Section 45-37-123.104 Withdrawal and refund of employee contributions. The following provisions generally govern a member's withdrawal and refund of employee contributions under the plan. Any member who fails to make application for the amount of his or her employee contributions pursuant to this section within five years after his or her separation from the service of the county, except as otherwise provided herein or otherwise determined by the pension board, shall be deemed to have forfeited and donated such employee contributions to the trust fund pursuant to Section 45-37-123.83. The foregoing five year rule only applies to a member; in the case of a beneficiary, the pension board may only forfeit employee contributions after it has exhausted reasonable efforts to locate the beneficiary. (1) WITHDRAWAL OF EMPLOYEE CONTRIBUTIONS BY MEMBERS NOT ENTITLED TO A DEFERRED RETIREMENT BENEFIT. In the event that a member ceases to be an employee of the county for reasons other than...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.104.htm - 10K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-16.htm - 34K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-14.htm - 23K - Match Info - Similar pages
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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45-37-123.01
RETIREMENT BENEFIT. A benefit payable pursuant to the terms of subsection (a) of Section 45-37-123.100. (52) SYSTEM or PLAN. The General Retirement System for Employees of Jefferson County, which system or plan may sue or be sued, and in such name all of its business shall be transacted. (53) SPOUSE. The legal wife or husband of a member as determined in accordance with federal law. (54) TOTAL DISABILITY. A permanent physical or mental condition of a member resulting from bodily injury, disease, or mental disorder which renders such member incapable of continuing usual and customary employment with the county. The disability of a member shall be determined by a licensed medical advisor. (55) TRUSTEE. The pension board or the person or entity appointed by the pension board and named as trustee herein or in any separate trust forming a part of the plan, and any successors. (56) TRUST FUND. The tax-qualified trust in which certain plan funds are held, disbursed, transferred,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.01.htm - 27K - Match Info - Similar pages
45-37-123.22
designation, appoint at its option an investment manager, qualified under the Investment Company Act of 1940, as amended, investment adviser, or other agent to provide direction regarding any or all of the plan assets. Such appointment shall specifically identify the plan assets with respect to which the investment manager or other agent shall have authority to direct the investment. (12) To establish an investment policy. (13) To establish a privacy policy for the protection of a member's personal information, subject to applicable law. (14) To hold an annual meeting of the members at least once per calendar year and provide at least seven days' written notice of the meeting to all members at either their place of work, last known address, or by electronic mail. (15) To determine appropriate rules and regulations to determine how much service per calendar year is equivalent to one year of service, in accordance with Section 45-37-123.84. (16) To develop rules and regulations, amend...
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45-37-123.103
Section 45-37-123.103 Death benefits. (a) Preretirement death benefits. A vested member's beneficiary is entitled to a preretirement joint survivorship pension, as described below. (1) MARRIED MEMBER. If a married, active member dies, then the beneficiary may elect, on a form provided by the pension board, to be paid in one of the following forms: a. One Hundred Percent Preretirement Joint Survivorship Pension. If such member was eligible for a deferred retirement benefit at the time of the member's death, then the beneficiary may elect to be paid in the form of a 100 percent preretirement joint survivorship pension, which is a monthly annuity paid during the beneficiary's lifetime which is equal to the actuarial equivalent of the benefits that would have been paid to the member if, instead of dying, the member had terminated employment; or b. Refund. The beneficiary may elect a refund of the member's employee contributions in accordance with Section 45-37-123.104(4)b. (2) UNMARRIED...
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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,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-1.htm - 8K - Match Info - Similar pages
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