12-18-112
Section 12-18-112 Transfer of contributions and creditable service - District judge's adjusted benefit formulas; spouse's benefits. In the event a member of the Judicial Retirement Fund, who is a district 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 district judge shall be an annual amount equal to the sum of: a. The amount which results when 90 percent of the retirement benefits payable by the state to circuit judges on the date such district judge retires (as is provided under Section 12-18-58) is multiplied by the ratio created when the member's number of years of creditable service, excluding transferred...
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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...
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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...
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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...
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45-37A-51.04
Section 45-37A-51.04 Membership. (a) The following shall be members of the supplemental pension system hereby created: Members of the fire department or police department of the city who belong to the general retirement and relief system, created by Act 929 on whose account the city makes no contribution or pays no tax, to the United States of America under the federal Social Security Act. (b) As used in this subpart these terms have the meanings here given them: (1) ACT 556 CREDITABLE SERVICE. A member's service with the city during the period while the salary deductions of Section 45-37A-51.05 applied to him or her and also his or her service with the city during any period while salary deductions did not apply to him or her, provided he or she exercises the option subsection (d) or (e) accords him or her to have his or her service during the last mentioned period counted as Act 556 creditable services. (2) BENEFIT. A benefit payable under this subpart to a member or to any person...
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45-8A-22.109
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 compensation is earned. b. Pick-Up...
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12-17-227
Section 12-17-227 (Effective November 8, 2016, subject to contingencies) Definitions. When used in this division, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) ACCUMULATED CONTRIBUTIONS. The sum of all the amounts deducted from the compensation of a member credited to his or her individual account in the District Attorneys' Plan, together with regular interest thereon. (2) ACTUARIAL EQUIVALENT. A benefit of equal value when computed upon the basis of the mortality tables adopted by the Board of Control and regular interest. (3) ANNUITY. Payments for life derived from the accumulated contributions of a member. All annuities shall be payable in equal monthly installments. (4) AVERAGE FINAL COMPENSATION. The average annual compensation of a district attorney with respect to which he or she had made contributions pursuant to Section 12-17-227.2 during the five years in his or her last 10 years of membership service...
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12-18-150
Section 12-18-150 (Effective November 8, 2016, subject to contingencies) Definitions. When used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) ACCUMULATED CONTRIBUTIONS. The sum of all the amounts deducted from the compensation of a member credited to his or her individual account in the Judges' and Clerks' Plan, together with regular interest thereon. (2) ACTUARIAL EQUIVALENT. A benefit of equal value when computed upon the basis of the mortality tables adopted by the Board of Control and regular interest. (3) ANNUITY. Payments for life derived from the accumulated contributions of a member. All annuities shall be payable in equal monthly installments. (4) AVERAGE FINAL COMPENSATION. The average annual compensation of a judge or clerk with respect to which he or she had made contributions pursuant to Section 12-18-152 during the five years in his or her last 10 years of membership service for...
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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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45-49A-61
Section 45-49A-61 Supplemental retirement benefits. (a) This section shall apply in all cities in this state which have a population of not less than 175,000 nor more than 275,000 according to the last or any subsequent federal decennial census. (b)(1) All employees of any such city (except members of the police or fire departments thereof) who have heretofore been covered by the benefits established by the provisions of Acts 1951, No. 773, Regular Session 1951 (Acts 1951, p. 1342), as amended, and who by action of the city commission or like governing body of such city become eligible to participate in the state employees pension plan, shall be entitled to receive the following benefits from the city, to be calculated as of the effective date of becoming eligible to participate in the state employees pension plan: a. Any employee eligible for retirement, upon retiring or otherwise leaving the employ of such city and becoming eligible to receive retirement benefits under Act 773, shall...
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