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45-37-123.53
Section 45-37-123.53 Conversion of unpaid membership time to paid membership time. (a)
Commission-authorized conversions. The commission, from time to time, may authorize members
of the system to convert unpaid membership time to paid membership time if it determines that
such conversion is in the public interest. Unpaid membership time may be converted to paid
membership time only when specifically authorized by the commission, and as set forth below:
(b) Pension board authorized conversions. The pension board, from time to time, may authorize
members of the system to convert unpaid membership time to paid membership time if it determines
that the conversion is in the best interest of the system. The conversion shall be conducted
as set forth below. (1) ACTUARIAL STUDY AND CALCULATIONS. Before an opportunity to convert
unpaid membership time to paid membership time shall be made available to any members, the
pension board shall cause and the county shall pay for an actuarial...
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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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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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45-37A-51.162
Section 45-37A-51.162 Elected officials, appointed employees, and employees in the unclassified
service. (a) Elected officials. (1) Each officer shall be eligible to become a member of the
system by exercising the option hereby given in the manner and within the time provided for
in this subsection and not thereafter. (2) Any person who is an officer may exercise such
option within 90 days from the date upon which such person shall officially take office. (3)
An officer desiring to become a member under this subsection shall deliver to the city director
of finance, within the time above specified, a signed statement reciting that the officer
elects to become a member of the system. The election thus made shall be irrevocable. After
electing to become a member, an officer shall be subject to all burdens and entitled to all
rights attached to membership in the system, including the subjection of the officer to salary
deductions and entitlement to contributions by the city on his or her...
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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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16-25-4
Section 16-25-4 Transfer of membership from the Employees' Retirement System of Alabama
generally. (a) Any member of the Teachers' Retirement System who, not more than one year prior
to becoming a member of the Teachers' Retirement System, was a member of the Employees' Retirement
System of Alabama may elect to transfer to the Teachers' Retirement System his service credits
in said Employees' Retirement System, as herein provided. (b) Any such member so desiring
to transfer such service credits shall notify the Board of Control of the Teachers' Retirement
System after he becomes a member of the Teachers' Retirement System of his election to transfer
such service credits and shall authorize transfer of the amount of his accumulated contributions
to his credit in said Employees' Retirement System to the annuity savings fund of the Teachers'
Retirement System. (c) The Board of Control of the Employees' Retirement System shall thereupon
certify to the Board of Control of the Teachers'...
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36-27-12
Section 36-27-12 Transfer of service credits, etc., from Teachers' Retirement System
of Alabama. (a) Any member of the Employees' Retirement System who, not more than one year
prior to becoming a member of the employees' retirement system, was a member of the Teachers'
Retirement System of Alabama may elect to transfer to the Employees' Retirement System his
service credits in said Teachers' Retirement System, as provided in this section. (b)
Any such member so desiring to transfer such service credits shall notify the Board of Control
of the Employees' Retirement System after he becomes a member of the employees' retirement
system of his election to transfer such service credits and shall authorize transfer of the
amount of his accumulated contributions to his credit in said Teachers' Retirement System
to the Annuity Savings Fund of the Employees' Retirement System. (c) The Board of Control
of the Teachers' Retirement System shall thereupon certify to the Board of Control of the...
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29-1-26
Section 29-1-26 Legislative double dipping prohibited. (a) This section shall
be known and may be cited as the Legislative Double Dipping Prohibition Act. (b) Any other
provision of law to the contrary notwithstanding, and except as provided in subsection (c),
a member of the Legislature, during his or her term of office, may not be an employee of any
other branch of state government, any department, agency, board, or commission of the state,
or any public educational institution including, but not limited to, a local board of education,
a two-year institution of higher education, or a four-year institution of higher education.
For purposes of this section, employee means any of the following: (1) An employee
as defined in Section 36-27-1, or a teacher as defined in Section 16-25-1. An
employee as defined in this subsection shall not include any person receiving pension benefits
from the Retirement Systems of Alabama. (2) A person who is personally providing services
under a personal...
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45-37A-51.07
Section 45-37A-51.07 Retirement allowance and survivor's allowance. (a)(1) The words,
terms, and phrases of this section shall have the meaning ascribed to them by Act 929,
unless it appears from the context that a different meaning is intended. As used in this section
and Section 45-37A-51.11, these words and terms have the meanings hereby accorded them:
a. DEFERRED PENSION UNDER THE GENERAL RETIREMENT AND RELIEF SYSTEM. A pension granted to a
firefighter or police officer under Act 929, the payment of which does not commence until
the pension granted to such firefighter or police officer under this subpart ceases. b. DISABLED
CHILD. A firefighter's or police officer's son or daughter regardless of age who becomes disabled
prior to attaining age 18 with a medically determinable physical or mental impairment or impairments,
by reason of which impairment, or impairments, the son or daughter has been unable, and continues
to be unable, to engage in any substantially gainful activity. c....
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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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