|
45-37-123.102
Section 45-37-123.102 Disability retirement benefits. (a) Non-service connected disability
benefits. Subject to subsection (h), any member who, after accumulating 10 years of paid membership
time, experiences a total disability as a result of a non-service connected disability shall
be entitled to receive, at the time set forth in subsection (e), monthly disability retirement
benefits determined in accordance with Section 45-37-123.100, as though the disabled member
were entitled to a superannuation retirement benefit at the commencement of the disability;
however, there shall be a percentage reduction of such benefit to reflect early commencement
of the payment, such percentage to be based on the member's whole years from actual eligibility
for a superannuation retirement benefit, as set forth below. Notwithstanding any provisions
to the contrary, the minimum monthly disability retirement benefit payable in connection with
a non-service connected disability shall be 50 percent of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.102.htm - 6K - Match Info - Similar pages
45-37A-51.221
Section 45-37A-51.221 Minimum and maximum normal retirement benefit. (a) The minimum retirement
benefit payable under Section 45-37A-51.220 shall be four hundred dollars ($400) per month.
The maximum normal retirement benefit payable under Section 45-37A-51.220 shall be 75 percent
of final average salary, exclusive of sick leave bonus. Notwithstanding the foregoing and
to the extent applicable to governmental plans as defined in § 414(d), Internal Revenue Code,
in no event may the normal retirement benefit exceed the annual dollar limits imposed by §
415(b), Internal Revenue Code, excluding contributions under § 414(h)(2), Internal Revenue
Code. Further, no post severance compensation shall be included for any benefit hereunder.
Post severance compensation means amounts paid by the later of: (1) Two and one-half months
after an employee's severance from employment with the employer, or (2) the end of the limitation
year that includes the date of severance from employment with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.221.htm - 4K - Match Info - Similar pages
45-49A-63.60
Section 45-49A-63.60 Retirement. (a) Except as provided in Section 45-49A-63.66, a member who
first became a uniformed officer prior to March 28, 1990, and who terminates his or her employment
as a uniformed officer on or after he or she has 20 years of service, the last 10 years of
service being without a break in service exceeding one year, shall have a nonforfeitable right
to receive an annual benefit beginning on the first day following the later of his or her
termination of employment as a uniformed officer or his or her 50th birthday. His or her annual
benefit shall be equal to two and one-half percent of his or her final average salary multiplied
by his or her years of service, but shall not be less than 50 percent, nor more than 75 percent,
of his or her final average salary. (b) Except as provided in Section 45-49A-63.66, a member
who first became a uniformed officer on or after March 28, 1990, and who terminates his or
her employment as a uniformed officer on or after he or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-63.60.htm - 2K - Match Info - Similar pages
45-37A-51.230
Section 45-37A-51.230 Service connected death benefit. Should a participant be killed in the
line of his or her duty, there may be payable to his or her spouse and child or children a
service connected death benefit which shall be determined as follows: (1) SPOUSE BENEFIT.
The surviving spouse shall receive a monthly benefit equal to 60 percent of the monthly salary
of the deceased participant and shall additionally receive an amount equal to 10 percent of
the salary for each eligible child of the deceased participant. However, in no event shall
the monthly benefit payable to the spouse hereunder exceed 75 percent of the monthly salary
of the deceased participant. (2) CHILD OR CHILDREN BENEFIT. Should there be no surviving spouse
or should the surviving spouse fail to qualify hereunder, there shall be payable to or for
the benefit of such deceased participant's child or children a monthly benefit equal to 60
percent of the deceased participant's monthly salary as provided in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.230.htm - 1K - Match Info - Similar pages
12-18-87
Section 12-18-87 Benefits. (a) Judges' retirement benefits. - The annual retirement benefit
payable to a probate judge retiring pursuant to subdivisions (2), (3), (4), and (5) of Section
12-18-84 shall be 75 percent of the base sum or salary upon which such judge is paying the
percentage as provided in subsection (a) or subsection (b) of Section 12-18-82 immediately
prior to retirement. Such retirement benefit shall be payable monthly from the State Treasury
for the life of the beneficiary. (b) Spouses' benefits. - After the death of any probate judge
who has held office for a minimum of five years, his or her spouse shall receive a yearly
benefit from the State Treasury equivalent to the greater of $480.00 per year, multiplied
by the number of years of service, not to exceed 10 years, or three percent of the base sum
or salary upon which such probate judge was paying the percentage as provided in subsection
(a) or subsection (b) of Section 12-18-82 immediately prior to retirement,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-87.htm - 2K - Match Info - Similar pages
12-18-40
Section 12-18-40 Retirement at age 60; computation; cost-of-living; prior service. On or after
July 30, 1979, any person assuming office for the first time as a justice of the Supreme Court,
judge of a court of appeals or a circuit judge, shall receive and be entitled to all retirement
benefits prescribed in Title 12, Chapter 18, Articles 1 and 2, except as follows: (1) The
provisions of subdivisions (3) and (5) of both subsections (a) and (b) of Section 12-18-6,
to the contrary notwithstanding, except for disability, no such justice or judge shall be
eligible to receive judicial service retirement pay prior to attaining 60 years of age. (2)
The retirement pay or benefit of each such justice or judge shall be based and computed pursuant
to the provisions of Section 12-18-10, at the percentage rate therein prescribed of his final
salary received from the state at the time of retirement. Retired justices and judges coming
under this article shall be entitled to receive cost-of-living...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-40.htm - 2K - Match Info - Similar pages
16-25-17
Section 16-25-17 Increase in benefits - Cost-of- living increase for certain persons. (a) There
is hereby created a cost-of-living increase, not to exceed 15 percent in any case, which shall
be applied to the benefit of any retired teacher or any teacher who retires after October
1, 1975, whose retirement benefit, when calculated upon the 2.0125 percent factor, does not
result in a benefit increase of 15 percent as compared to the benefit to which such retired
member was entitled to receive prior to the implementation of the 2.0125 percent formula factor
provided for in Section 16-25-14 and this section. (b) Any person described in subsection
(a) of this section shall be entitled to receive an amount which, when added to the benefit
he is entitled to receive after the implementation of the 2.0125 percent formula factor, shall
be sufficient to equal an increase of 15 percent above the benefit which such person was entitled
to receive prior to the implementation of the 2.0125 percent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-17.htm - 2K - Match Info - Similar pages
45-49A-81.11
Section 45-49A-81.11 Pension eligibility for certain employees - 25 years of service. (a) Any
employee of the City of Prichard who has been in the service thereof for as long as 25 years,
the last four years of which, counting a major fraction of a year as a full year, have been
continuous, upon making written application to the City Council of the City of Prichard, Alabama,
therefor, shall, without medical examination or disability be retired from service of the
City of Prichard and upon such retirement the council shall direct the payment to the retiring
employee monthly from such fund, a sum equal to 55 percent of the monthly compensation received
by such employee as salary or other compensation at the time of his or her retirement, or
an amount equal to 55 percent of the average compensation of such employee over the then past
four calendar years, whichever shall be the greater, multiplied by the percentages applicable
from the table below: Years Service Percentage 25 55 26 56 27...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-81.11.htm - 4K - Match Info - Similar pages
16-25-150
Section 16-25-150 Participation in plan. (a) As governed by this subsection, there exists as
a part of this retirement system an optional account known as the Deferred Retirement Option
Plan, which may be cited as "DROP." The purpose of DROP is to allow, contractually,
in lieu of immediate withdrawal from service and receipt of a retirement allowance, continued
employment for a specific period of time, coupled with the deferral of receipt of a retirement
allowance until the end of the period of participation, at which time the member shall withdraw
from service. (b) Participation in DROP is an option available to any member of this retirement
system who meets all of the following requirements: (1) Has at least 25 years of creditable
service exclusive of sick leave. (2) Is at least 55 years of age. (3) Is eligible for service
retirement. (c) An election to participate in DROP may be made in one year increments not
to exceed five years, nor to be less than three years. A member may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-150.htm - 5K - Match Info - Similar pages
36-27-170
Section 36-27-170 Participation in plan. (a) As governed by this subsection, there exists as
a part of this retirement system, an optional account known as the Deferred Retirement Option
Plan, which may be cited as "DROP." The purpose of DROP is to allow, contractually,
in lieu of immediate withdrawal from service and receipt of a retirement allowance, continued
employment for a specific period of time, coupled with the deferral of receipt of a retirement
allowance until the end of such period of participation, at which time the member shall withdraw
from service. (b) Participation in DROP is an option available to any member of this retirement
system who meets all of the following: (1) Has at least 25 years of creditable service exclusive
of sick leave. (2) Is at least 55 years of age, or in the case of a state police member, is
at least 52 years of age. (3) Is eligible for service retirement. (c) An election to participate
in DROP may be made in one year increments not to exceed five...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-170.htm - 5K - Match Info - Similar pages
|