45-37A-51.242
Section 45-37A-51.242 Cost of living increases; future benefits (a) Upon approval of the governing body of the municipality primarily served by the system and upon approval of the board of managers, an increase in the amount of benefits, including improvements in the terms of benefits: (1) for future retirees, benefits or improvements such as earlier vesting, decreased retirement age, increase in multiplier used in calculating monthly benefit, or other like improvements may be granted; and (2) for current retirees cost of living increases may be granted, subject to the requirements of the United States Internal Revenue Code and regulations therewith. Such increases shall apply to participants or retirees of the board of health. (b) Prior to approving an increase in the above described benefits, the board shall obtain the actuarial evaluation of the fund. Such evaluation shall project the actuarial cost of benefits for the succeeding plan year and shall combine therewith the applicable...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.242.htm - 2K - Match Info - Similar pages
45-37A-51.280
Section 45-37A-51.280 Liabilities of employee members to fund. Any debt or liability of a participant to the fund or to the city shall be offset against, recouped from, and deducted from, any amount due from the fund to the employee member or those claiming under him or her either as return of contributions or as disability or retirement payments or death benefits, and only the balance, if any, shall be payable by the fund. (Act 2006-339, p. 851, Art. VIII, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.280.htm - 778 bytes - Match Info - Similar pages
12-18-113
Section 12-18-113 Transfer of contributions and creditable service - Probate judge's adjusted benefit formulas; spouse's benefits. In the event a member of the Judicial Retirement Fund, who is a probate judge, or a surviving spouse thereof, must employ and count creditable service transferred under this article to qualify for retirement and/or benefits under the fund, the benefits or allowances payable to such member or spouse shall be calculated as follows, and shall be in lieu of any and all other rights, benefits and allowances, except Social Security payments: (1) The annual service allowance payable to a retiring probate judge shall be an annual amount equal to the sum of: a. The amount which results when 75 percent of the base sum or salary upon which such judge was contributing, as provided in Section 12-18-82, immediately prior to retirement is multiplied by the ratio created when the member's number of years of creditable service, excluding transferred credit, is compared to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-113.htm - 5K - Match Info - Similar pages
16-25A-8.1
Section 16-25A-8.1 Retiree contribution based on years of service. (a) The board shall set forth the employer contribution to the health insurance premium for each retiree class. (b)(1) Except as provided in subdivision (2), for employees who retire after September 30, 2005, but before January 1, 2012, the employer contribution of the health insurance premium set forth by the board for each retiree class shall be reduced by two percent for each year of service less than 25 and increased by two percent for each year of service over 25 subject to adjustment by the board for changes in Medicare premium costs required to be paid by a retiree. In no case shall the employer contribution of the health insurance premium exceed 100 percent of the total health insurance premium cost for the retiree. (2) Employees who retire on disability and apply for Social Security Disability shall be exempt from this subsection for a period of two years and thereafter if the employee is approved for Social...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25A-8.1.htm - 3K - Match Info - Similar pages
45-37A-461
Section 45-37A-461 Electric supplier service territories. (a) The Legislature of the State of Alabama has investigated the economic, financial, and environmental impact associated with the potential for duplication of electric distribution facilities used for the furnishing of retail electric service in and around the City of Tarrant City, Alabama. Among its findings is that with respect to retail electric service industry, the benefits normally associated with competition between two suppliers for customers is outweighed by the tremendous cost burden which must be borne by such customers associated with the maintenance of two or more duplicate sets of facilities. It is the further finding of the Legislature that the existence of duplicate facilities for the furnishing of electricity at retail in Tarrant City is not in the public interest because of the adverse impact which such duplication has on environmental and aesthetic values and on safety. It is therefore declared that the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-461.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-24.htm - 15K - Match Info - Similar pages
36-27-7.1
Section 36-27-7.1 Participation of employees of counties, cities, towns, public or quasi-public organizations, etc. - Certain retired employees of Cooperative Extension Service of Auburn University. (a) Any law to the contrary notwithstanding, any retired employee of the Cooperative Extension Service of Auburn University who has retired under federal civil service retirement after January 1, 1972, but on or before May 1, 1976, and who would otherwise be eligible to participate in the Employees' Retirement System of the State of Alabama under the provisions of Section 36-27-7, shall be allowed prior creditable service under the Employees' Retirement System for time spent in the employment of the Cooperative Extension Service before retirement under federal civil service retirement and shall be allowed to participate in the Employees' Retirement System under the same conditions and with same benefits for such past service as employees eligible to participate in the Employees' Retirement...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-7.1.htm - 2K - Match Info - Similar pages
36-36-3
Section 36-36-3 Definitions. As used in this chapter, the following words and phrases shall have the following respective meanings: (1) ALABAMA RETIRED EDUCATION EMPLOYEES' HEALTH CARE TRUST. The Alabama Retired Education Employees' Health Care Trust created by the state and the Public Education Employees' Health Insurance Board pursuant to this chapter. (2) ALABAMA RETIRED STATE EMPLOYEES' HEALTH CARE TRUST. The Alabama Retired State Employees' Health Care Trust created by the state and the State Employees' Insurance Board pursuant to this chapter. (3) BOARDS. The State Employees' Insurance Board and the Public Education Employees' Health Insurance Board. (4) DEPENDENTS. The spouse and dependent children, as defined by the rules and regulations of the respective boards, of a retired employee who are covered by either the Public Education Employees' Health Insurance Plan pursuant to Chapter 25A of Title 16, as amended from time to time, or the State Employees' Health Insurance Plan...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-36-3.htm - 3K - Match Info - Similar pages
45-37-171.20
Section 45-37-171.20 Cost-of-living increases for certain retirees. (a)(1) Effective retroactively to October 1, 2000, each retiree of the Jefferson County Department of Health receiving monthly benefits from the City of Birmingham Retirement and Relief System, whose effective date of retirement was after the department elected to become a member in the Employees' Retirement System and prior to October 1, 2000, shall receive a cost-of-living increase of four percent in his or her gross monthly benefit, but not less than twenty-five dollars ($25) per month. (2) Beneficiaries of deceased retirees referenced in subdivision (1) shall receive the cost-of-living increase in the amount attained by the retiree. The increase shall not be less than twenty-five dollars ($25) per month. (b) When future cost-of-living increases are provided to the Jefferson County Department of Health retirees and their beneficiaries who are receiving monthly benefits from the Employees' Retirement System, the same...
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12-18-92
Section 12-18-92 1984 cost of living increase. (a) There is hereby provided, commencing October 1, 1984, to any probate judge retired prior to October 1, 1983, under the Judicial Retirement Fund of Alabama and who is receiving a retirement allowance therefrom, a cost-of-living increase in his maximum retirement allowance as follows: (1) If such person retired prior to October 1, 1979, a 15 percent increase in his maximum retirement allowance. (2) If such person retired on or after October 1, 1979, but prior to October 1, 1981, a 10 percent increase in his maximum retirement allowance. (3) If such person retired on or after October 1, 1981, but prior to October 1, 1983, a five percent increase in his maximum retirement allowance. (b) Any person retired under the Judicial Retirement Fund of Alabama who assumed office for the first time on or after July 30, 1979, for purposes of this section, shall not be entitled to receive the cost-of-living increase provided. (c) The board of control...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-92.htm - 2K - Match Info - Similar pages
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