45-37A-51.225
Section 45-37A-51.225 Ordinary disability allowance. (a) In the event a participant, after having accrued five or more years of credited service, shall become totally disabled to perform his or her customary duties as an employee of the city and not be entitled to an extraordinary disability allowance, he or she shall in such event be entitled to a monthly ordinary disability allowance equal to two percent of such participant's final average salary multiplied by his or her years of credited service at the date of disability. (b) Notwithstanding anything to the contrary contained in this section, for all participants who first become participants on or after July 1, 2017, in the event a participant, after having accrued 10 or more years of credited service, becomes totally disabled to perform his or her customary duties as an employee of the city and who is not entitled to an extraordinary disability allowance, he or she shall in that event be entitled to a monthly ordinary disability...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.225.htm - 2K - Match Info - Similar pages
45-8A-22.109
Section 45-8A-22.109 Contributions to the trust. (a) The secretary-treasurer shall receive contributions to the trust that shall consist of the following: (1) All of the money, securities, things of value, and assets belonging to any similar fund now being maintained by the City of Anniston. (2) All money or properties that may be given or donated by any person, firm, association, or corporation for the uses and purposes for which the trust is created, and the retirement board may take by gift, grant, devise, or bequest, any money, personal property or real estate, or any interest therein or any right of property for the benefit of the trust. (3) Participant Contributions. a. Employee Contributions. Effective prior to October 1, 2002, 10 percent of each participant's monthly compensation, including overtime and any other pay, which shall be deducted from such compensation and paid to the secretary-treasurer on or before the tenth day each month next succeeding the month in which such...
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45-8A-22.119
Section 45-8A-22.119 Death benefits. (a) Participant Death in the Line of Duty. (1) Effective for Deaths Occurring Before October 1, 2012. a. Surviving Spouse. If a participant dies as a result of injuries received in the line of duty and leaves a surviving spouse, the retirement board shall direct the payment to the surviving spouse of a monthly pension equal to Option B-100 percent joint and survivor plan, described in Section 45-8A-22.120, based on a 30-year service retirement. b. No Surviving Spouse and Surviving Children. If a participant dies as a result of injuries received in the line of duty and leaves no surviving spouse or the surviving spouse should die, and if the participant leaves a surviving child or children under the age of 18 years, then a benefit of 50 percent of the amount the participant would have been paid under the 100 percent joint and survivor plan based on a 30-year service retirement shall be paid to the legal guardian of the child or children then under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.119.htm - 11K - Match Info - Similar pages
45-49A-63.172
Section 45-49A-63.172 Limitation concerning highly compensated employees or highly compensated former employees. (a) This section shall apply (i) in the event the plan is terminated, to any member who is a highly compensated employee of the city and (ii) in any other event, to any member who is one of the 25 highly compensated employees of the city with the greatest compensation in any plan year. The amount of the annual payments to any one of the members to whom this section applies shall not be greater than an amount equal to the annual payments that would be made on behalf of the member during the year under a single life annuity that is of equivalent actuarial value to the member's benefit. (b) If, (i) after payment of the benefit to any one of the members to whom this section applies, the value of plan assets equals or exceeds 110 percent of the value of current liabilities, as that term is defined in Section 412(1)(7) of the code, of the plan, (ii) the value of the benefit of any...
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45-49A-81.12
Section 45-49A-81.12 Benefits for widows and orphans. (a) In the event of the death of a married employee and if at the time of such death the employee (1) is in the active employment of the city, or (2) is receiving a pension either for disability or for longevity from the city a pension shall be paid to his or her spouse. (b) The annual amount of such spouse's pension, which shall be payable monthly, shall be equal to one-half of the amount of pension which the deceased employee, if on a disability pension, was receiving or entitled to receive at the time of his or her death; or one-half of the amount which the deceased employee, if actively employed, would have been entitled to as a pension upon attaining age 55, or immediately if he or she is then age 55 or older as the case may be, if he or she had retired instead of dying on the day of his or her death. In no event, however, will the amount of such spouse's pension be less than 10 percent of the annual compensation of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-81.12.htm - 4K - Match Info - Similar pages
11-40-17.3
Section 11-40-17.3 Retroactive Deferred Retirement Option Plan. (a) This section shall apply to Class 1 municipalities only. (b) There is established a Retroactive Deferred Retirement Option ("Back Drop") Plan for any retirement and relief system established pursuant to Act 1272, 1973 Regular Session (Acts 1973, p. 2124), as amended. A participant who retires at least 90 days following July 1, 2002, who has then completed at least 23 years of credited service, and who is otherwise entitled to retire and receive a normal retirement benefit, shall have the opportunity to elect a Back Drop plan. A participant eligible for the Back Drop plan can elect in writing at his or her retirement to retroactively drop his or her credited service in excess of 20 years, for a period of months not exceeding 36 months immediately preceding the date of retirement (the "Back Drop period"); provided that the beginning of the Back Drop period may not extend past the earliest date on which the participant...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-40-17.3.htm - 4K - Match Info - Similar pages
41-14A-5
Section 41-14A-5 Collateral for public deposits; general provisions. (a) Every qualified public depository shall maintain on deposit with a custodian, to be held subject to the order of the State Treasurer or the State Treasurer's designee (which may be a financial institution designated by the State Treasurer), eligible collateral having a market value equal to or in excess of the amount of collateral required under this section. (b) Each qualified public depository shall be required to pledge collateral, in accordance with procedures established by the board of directors, equal to or exceeding the greater of the following: (1) The generally applicable pledging requirement; and (2) the applicable percentage of the qualified public depository's net average daily balance of public deposits established under rules or orders adopted pursuant to subsection (c) or subsection (d) below. (c) The State Treasurer may, from time to time, in his or her discretion require that certain qualified...
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36-22-61
Section 36-22-61 Payroll deductions; refunds; widow's allowance; effect of other retirement plans. The governing body of each county shall begin deducting, upon July 19, 1979, and each month thereafter, from the salaries of such sheriffs an amount equal to six percent of the monthly salary paid such sheriff. Such sum shall be deducted monthly and paid into the general fund of the county. If any sheriff, subject to the provisions of this article, shall end his tenure of office prior to having reached age of 55 years, but having had 16 years of service as a law enforcement officer, 12 of which have been as sheriff, his supernumerary allowance as set out in Section 36-22-62, shall be vested and held in the general fund of the county until he attains the age of 55, at which time, or any time thereafter, he may elect to become a supernumerary sheriff as set out in Section 36-22-60. If any sheriff, subject to the provisions of this article, shall end his tenure of office prior to having had...
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45-49-81.41
Section 45-49-81.41 Compensation to circuit judges entitled to purchase prior service credit. The Mobile County Commission shall pay annual compensation to any circuit judge in the Thirteenth Judicial Circuit who is entitled to purchase any prior service credit in the Judicial Retirement Fund under Section 12-18-8.2, in an amount equal to the total employer contributions that are required by the fund for purchase of the prior service credit. The judge shall pay the employee contributions, as required by the most recent actuarial valuation for the fund, for purchase of the prior service credit. The annual compensation may be paid to the judge by the county in either equal monthly installments or in a lump sum as the judge may elect. When the judge has been compensated by the county in an amount that is sufficient to cover the total employer contributions required for purchase of the prior service credit, the annual compensation provided by this section shall terminate. (Act 92-534, p....
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40-6-4
Section 40-6-4 Deductions from salaries or fees of officials charged with assessment or collection of taxes. The governing body shall deduct from the salary of the tax collector, tax assessor, revenue commissioner, license commissioner, or other elected official charged with the assessment or collection, or both, of any ad valorem taxes of the county, if the officials are paid by salary, an amount equal to seven percent of the annual salary paid the official by the county. The sum shall be deducted monthly and distributed at the end of the fiscal year on a pro rata millage basis to the state, county, and all subdivisions and agencies thereof, except municipal corporations, to which ad valorem taxes are paid. If the officials are compensated by fees and commissions, the tax collector shall deduct from the money paid to the tax collector, tax assessor, revenue commissioner, license commissioner, or other elected official charged with the assessment or collection, or both, of ad valorem...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-6-4.htm - 3K - Match Info - Similar pages
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