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45-37A-51.234
Section 45-37A-51.234 Termination of employment; ineligibility; return of contribution.
(a) In the event a participant shall terminate or be terminated from his or her employment
with the city due to disability and such participant shall cease to be eligible for participation
herein or in the event such participant shall cease to be a qualified employee and shall elect
to terminate his or her participation in the system, the total amount of participant's contributions,
without interest thereon, shall be payable to the former participant, less an amount equal
to one-half the total of all disability retirement benefits paid to the former participant.
This section shall not require a return of contributions to an involuntary retiree
who elects not to withdraw his or her contributions pursuant to Section 45-37A-51.224
(b) In the event a participant shall terminate or be terminated from his or her employment
with the city for any reason other than disability and such participant shall cease...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.234.htm - 1K - Match Info - Similar pages
45-8A-22.120
Section 45-8A-22.120 Optional benefit plans. (a) Optional Plans. Any participant terminating
service on or after January 1, 1989, pursuant to the terms of Section 45-8A-22.113,
Section 45-8A-22.114, or Section 45-8A-22.116 shall, within 20 days of the effective
date of termination have the option of electing a pension plan with or without death benefits
from one of the following three optional plans: (1) Option A-Fifty Percent Joint and Survivor
Plan. a. A participant having elected Option A shall, during his or her lifetime, receive
a monthly benefit from the plan in accordance with Section 45-8A-22.113, Section
45-8A-22.114, or Section 45-8A-22.116. b. In the event that a participant dies from
any cause and leaves a surviving spouse, the retirement board shall direct the payment to
the spouse of a monthly pension equal to 50 percent of the amount of the pension being paid
to the participant at the time of his or her death; provided, however, with respect to retirements
pursuant to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.120.htm - 5K - 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
45-37A-51.09
Section 45-37A-51.09 Compensation limits; forfeitures; required minimum. (a) Compensation
in excess of one hundred sixty thousand dollars ($160,000), or such other amount provided
in the Internal Revenue Code of 1986, as amended, shall be disregarded. Such amount shall
be adjusted for increases in the cost-of-living in accordance with Section 401(a)(17)(B),
except that the dollar increase in effect on January 1 of any calendar year shall be effective
for the fiscal years beginning with or within such calendar year. If compensation for any
prior determination period is taken into account in determining a participant member's benefits
for the current fiscal year, the compensation for such prior determination period is subject
to the applicable annual compensation limit in effect for that prior period. (b) Notwithstanding
the foregoing and to the extent applicable to governmental plans as such are defined in Section
414(d) of the Internal Revenue Code of 1986, as amended, in no event may...
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25-5-57
Section 25-5-57 Compensation for disability. (a) Compensation schedule. Following is
the schedule of compensation: (1) TEMPORARY TOTAL DISABILITY. For injury producing temporary
total disability, the compensation shall be 66 2/3 percent of the average weekly earnings
received at the time of injury, subject to a maximum and minimum weekly compensation as stated
in Section 25-5-68, but if at the time of injury the employee received average weekly
earnings of less than the minimum stated in Section 25-5-68, then he or she shall receive
the full amount of the average weekly earnings per week. This compensation shall be paid during
the time of the disability, but at the time as a temporary total disability shall become permanent,
compensation for the continued total disability shall be governed by (a)(4) of this section
with respect to permanent total disability. Payments are to be made at the intervals when
the earnings were payable, as nearly as may be, unless the parties otherwise agree....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-57.htm - 28K - Match Info - Similar pages
45-37A-51.165
Section 45-37A-51.165 Reemployment. (a) In the event a participant should cease to be
a participant hereunder, should elect a return of his or her contributions as provided in
Section 45-37A-51.234 hereof, and should thereafter again become a participant hereunder,
such participant shall have the right to elect to have his or her previously credited service
reinstated. Should he or she so elect, the participant shall be liable to the fund for the
amount of the contributions previously refunded to such participant and the city director
of finance shall deduct the liability from the salary in 20 monthly installments of approximately
equal amounts including interest from the date of such refund of contributions at such rate
used in the most recent earnings assumption in the actuarial report compounded annually per
annum. Alternatively, the city director of finance shall be authorized to set such monthly
installments, including interest as herein specified, over such lesser number of...
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45-37A-51.03
Section 45-37A-51.03 Board of managers. (a)(1) In order to assure representation of
all participants of this system, there shall be a board of managers of five members for the
administration, management, and control of the supplemental pension system, including administration,
management, control, acquisition, and disbursement of the fund. The board shall consist of
the president of the governing body of the city, who shall be chair of the board, and four
associate members, designated respectively as Member No. 1, Member No. 2, Member No. 3, and
Member No. 4. (2) Member No. 1 shall be appointed by the Jefferson County Personnel Board
and shall be a person who at the time of appointment has had five or more consecutive years
immediately preceding his or her appointment and has been an officer of, or the occupant of
an executive position in insurance, actuarial, investment, banking, or as a certified public
accountant and shall serve for a term of four years. Should the appointed Member...
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45-37A-51.120
Section 45-37A-51.120 Definitions. (a) The following words, terms, and phrases, wherever
used in this subpart, including this section, shall have the meanings respectively
ascribed to them in this section, unless the context plainly indicates otherwise or
that a more restricted or extended meaning is intended: (1) ANNIVERSARY DATE. The date of
establishment and the month and day thereof annually thereafter. (2) APPOINTED EMPLOYEE. A
person who holds his or her office or position by reason of being appointed by the mayor or
city council or other appointing authority of the city; who is not a classified service employee;
and who serves solely at the pleasure of the respective appointing authority. (3) BASIC MONTHLY
EARNINGS and MONTHLY SALARY. Basic monthly compensation, exclusive of overtime or other forms
of extra compensation but including longevity pay, which shall be regarded as having been
received in equal monthly installments during each of the months prior to the accrual date...
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45-8A-22.118
Section 45-8A-22.118 Maximum benefits; limitations; adjustments. (a) Annual Benefit
and Final Regulations Under Internal Revenue Code Section 415. (1) Annual Benefit.
For purposes of this section, "annual benefit" means the benefit payable
annually under the terms of the plan, exclusive of any benefit not required to be considered
for purposes of applying the limitations of Internal Revenue Code Section 415 to the
plan, in the form of a straight life annuity with no ancillary benefits. If the benefit is
payable in any other form, the annual benefit shall be adjusted to the equivalent of a straight
life annuity pursuant to subsection (c). (2) Final Regulations Under Internal Revenue Code
Section 415. Notwithstanding anything in this section to the contrary, the following
provisions apply beginning on or after January 1, 1976, except as otherwise provided in this
section. a. Incorporation by Reference. The limitations, adjustments, and other requirements
prescribed in the plan shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.118.htm - 30K - Match Info - Similar pages
45-8A-22.124
Section 45-8A-22.124 Eligible rollover distribution; direct rollover. (a) Rollovers
Generally. (1) Notwithstanding any provision of the plan to the contrary that would otherwise
limit a distributee's election under this section, a distributee may elect, at the
time and in the manner prescribed by the retirement board, to have any portion of an eligible
rollover distribution paid directly to an eligible retirement plan specified by the distributee
in a direct rollover. (2) Definitions. a. Eligible Rollover Distribution. An eligible rollover
distribution is any distribution of all or any portion of the balance to the credit of the
distributee, except that an eligible rollover distribution does not include: 1. Any distribution
that is one of a series of substantially equal periodic payments, not less frequently than
annually, made for the life, or life expectancy, of the distributee or the joint lives, or
joint life expectancies, of the distributee and the distributee's designated...
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