36-27-142
Section 36-27-142 Amount of increase - Persons whose employer participated in the Employees'
Retirement System. Commencing October 1, 1998, each person whose employer participated in
the Employees' Retirement System pursuant to Sections 36-27-7 and 36-27-7.1, whose effective
date of retirement for purposes of receiving benefits from the Employees' Retirement System
is prior to July 1, 1998, and who is receiving a monthly allowance or is eligible to receive
a monthly allowance from the Employees' Retirement System, shall receive a cost-of-living
increase in the amount of one half the amount of the years of service factor and the full
amount (four percent) of the current gross benefit factor of the formula in Section 36-27-140.
Retirees who chose Option 2, 3, or 4 shall receive the cost-of-living increase reduced by
the same percentage as the reduction which occurred because of the option selected unless
the designated beneficiary under the option is deceased on July 1, 1998, in which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-142.htm - 1K - Match Info - Similar pages

45-37-123.134
Section 45-37-123.134 Purchase of permissive service credit. (a) In general. If a member makes
one or more contributions to the plan to purchase permissive service credit under the plan,
the requirements of § 415, Internal Revenue Code, shall be treated as met with respect to
these contributions if: (1) The requirements of § 415(b), Internal Revenue Code, are met,
determined by treating the accrued benefit derived from all such contributions as an annual
benefit for purposes of § 415(b), Internal Revenue Code, provided, however, the plan shall
not fail to meet the reduced limit under § 415(b)(2)(C), Internal Revenue Code, solely by
reason of this section; or (2) The requirements of § 415(c), Internal Revenue Code, are met,
determined by treating all such contributions as annual additions for purposes of § 415(c),
Internal Revenue Code, provided, however, the plan shall not fail to meet the percentage limitation
under § 415(c)(1)(B), Internal Revenue Code, solely by reason of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.134.htm - 5K - Match Info - Similar pages

45-37A-51.139
Section 45-37A-51.139 Appeal of decisions of the board. (a) Any decision of the board denying
a benefit claimed may be subject to review by the circuit court, in the manner and subject
to the limitations herein provided. An employee may secure a review of a decision of the board
by mandamus proceedings in the circuit court, which proceedings the employee shall institute,
in the court by filing therein a petition for mandamus. The petition may designate the board
as respondent or the members thereof as respondents. Each respondent shall be served with
process, unless the respondent or his or her or its attorney accepts service. The petition
for mandamus shall be barred if it is not filed within 90 days from the date whereon the board
of managers makes its final decision on the benefit claimed, provided written notice of such
final decision of the board shall be given by certified or registered mail, postage prepaid,
and properly addressed, to the claimant or his or her attorney within...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.139.htm - 4K - Match Info - Similar pages

45-45-81.90
Section 45-45-81.90 Retirement compensation. (a) Any circuit judge or retired circuit judge
in the Twenty-third Judicial Circuit shall have the right of election to come under this section.
Any judge who elects to make the contributions provided in subsection (b) shall upon retirement
be entitled to receive as additional compensation payable from the treasury of the county,
for each year of service for which he or she is given credit toward retirement under the State
of Alabama Judicial Retirement System, a sum equal to 2.222 percent of the compensation paid
the judge by the State of Alabama. (b) A circuit judge or retired circuit judge in the Twenty-third
Judicial Circuit may elect to participate in the retirement benefits provided in subsection
(a) by filing with the clerk of the circuit court and with the chair of the county commission
or county treasurer of the county wherein such circuit is located a written instrument declaring
his or her election to so participate and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-45-81.90.htm - 2K - Match Info - Similar pages

27-14-3
Section 27-14-3 Insurable interest - Personal insurance; preneed contracts. (a) Insurable interest
with reference to personal insurance is an interest based upon a reasonable expectation of
pecuniary advantage through the continued life, health, or bodily safety of another person
and consequent loss by reason of his or her death or disability or a substantial interest
engendered by love and affection in the case of individuals closely related by blood or by
law. (b) An individual has an unlimited insurable interest in his or her own life, health,
and bodily safety and may lawfully take out a policy of insurance on his or her own life,
health, or bodily safety and have the same made payable to whomsoever he or she pleases, regardless
of whether the beneficiary so designated has an insurable interest. (c) A corporation, foreign
or domestic, has an insurable interest in the life or physical or mental ability of any of
its directors, officers, or employees, or the directors, officers, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-3.htm - 5K - Match Info - Similar pages

27-36A-8
Section 27-36A-8 Reserve valuation method - Life insurance and endowment benefits. (a) Except
as otherwise provided in Sections 27-36A-9, 27-36A-12, and 27-36A-14, reserves according to
the commissioners reserve valuation method, for the life insurance and endowment benefits
of policies providing for a uniform amount of insurance and requiring the payment of uniform
premiums, shall be the excess, if any, of the present value, at the date of valuation, of
the future guaranteed benefits provided for by the policies over the then present value of
any future modified net premiums therefor. The modified net premiums for a policy shall be
the uniform percentage of the respective contract premiums for the benefits, excluding extra
premiums on a substandard policy, that the present value, at the date of issue of the policy,
of all modified net premiums shall be equal to the sum of the then present value of the benefits
provided for by the policy and the excess of subdivision (1) over...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-8.htm - 4K - Match Info - Similar pages

33-1-5.1
Section 33-1-5.1 Retirement plans for employees of Alabama State Port Authority. (a) The Alabama
State Port Authority may establish and fund retirement plans for various employees of the
Alabama State Port Authority including but not limited to those employees who are employed
by the port authority under Section 36-26-19, those employees who are "exempt" under
Section 36-26-19, those employees who are employed by the port authority under Section 33-1-16
as locomotive engineers, locomotive firemen, switchmen, and switch engine foremen, and hostlers
engaged in the operation of the terminal railroads provided for by said section, and those
employees of the port authority who are not otherwise covered under the State Employees' Retirement
System and pay the costs of the establishment and funding of the retirement plans from the
revenues of the port authority. (b) The retirement plans and benefits shall be in amounts
as defined in individual labor contracts and deemed appropriate and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-1-5.1.htm - 4K - Match Info - Similar pages

36-27-20
Section 36-27-20 Increase in maximum retirement allowance of certain state, etc., employees
- 1971 five percent increase. (a) On or after October 1, 1971, there is hereby provided to
any state employee who retired prior to October 1, 1971, an increase in his maximum retirement
allowance by an amount of up to five percent, excluding that part of five percent provided
by any other legislation in 1971. (b) On or after October 1, 1971, there is hereby provided
to any employee who was retired prior to October 1, 1971, as an employee participating in
the Employees' Retirement System of Alabama under the provisions of Section 36-27-6 an increase
in his maximum retirement allowance by an amount of up to five percent, excluding that part
of five percent provided by any other legislation in 1971. The employer participating under
said Section 36-27-6 as described in this subsection shall provide the funds necessary to
pay the increase in retirement allowances as described in this subsection. (c)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-20.htm - 3K - Match Info - Similar pages

45-37A-51.250
Section 45-37A-51.250 Pension Funding Equity Act of 2004. Solely for purposes of calculating
DROP benefits and for converting lump sum amounts for compliance with § 415, Internal Revenue
Code, if the system provides a benefit in a form that is subject to the minimum present value
requirements of § 417(e)(3), Internal Revenue Code, in a fiscal year beginning in 2004 or
2005, the actuarially equivalent straight life annuity that is used for demonstrating compliance
with § 415, Internal Revenue Code, shall be the greater of: (1) The straight life annuity
determined using the plan rate and plan mortality table and (2) the straight life annuity
determined using 5.5 percent and the applicable mortality table. A benefit is subject to the
minimum present value requirements of § 417(e)(3), Internal Revenue Code, if it is any benefit
other than a nondecreasing annuity payable for a period of not less than the life of the participant,
or, in the case of a qualified preretirement survivor...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.250.htm - 1K - Match Info - Similar pages

45-49A-63.42
Section 45-49A-63.42 Restoration of retired member or other former member to service. (a) If
a member entitled to a benefit under Section 45-49A-63.60, Section 45-49A-63.61, or subsection
(a) of Section 45-49A-63.62 of the plan is restored to service as a uniformed officer, any
benefit he or she may be receiving under Subpart 4 shall cease and any election of an optional
benefit in effect shall be void. If he or she is restored to service as a uniformed officer
before he or she has a break in service exceeding one year, any service to which he or she
was entitled when he or she retired or terminated service shall be restored to him or her,
and upon his or her later retirement or termination, his or her benefit shall be based on
the benefit formula then in effect and his or her salary and service before and after his
or her break in service, reduced by an amount that is of equivalent actuarial value to the
benefits he or she received under Section 45-49A-63.60 or subsection (a) of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-63.42.htm - 4K - Match Info - Similar pages