41-15B-2.2
Section 41-15B-2.2 Allocation of trust fund revenues. (a) For each fiscal year, beginning October 1, 1999, contingent upon the Children First Trust Fund receiving tobacco revenues and upon appropriation by the Legislature, an amount of up to and including two hundred twenty-five thousand dollars ($225,000), or equivalent percentage of the total fund, shall be designated for the administration of the fund by the council and the Commissioner of Children's Affairs. (b) For the each fiscal year, beginning October 1, 1999, contingent upon the Children First Trust Fund receiving tobacco revenues, the remainder of the Children First Trust Fund, in the amounts provided for in Section 41-15B-2.1, shall be allocated as follows: (1) Ten percent of the fund shall be allocated to the Department of Public Health for distribution to one or more of the following: a. The Children's Health Insurance Program. b. Programs for tobacco control among children with the purpose being to reduce the consumption...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15B-2.2.htm - 22K - Match Info - Similar pages
4-3-47
Section 4-3-47 Powers of authority generally. The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time (which may be in perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil actions, excepting actions in tort against the authority; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, receive, take and hold, whether by purchase, option to purchase, gift, lease, devise or otherwise, property of every description, whether real, personal or mixed, whether in one or more counties and whether within or without the corporate limits of any authorizing subdivision, and to manage said property and to develop any property and to sell, exchange, lease or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-3-47.htm - 16K - 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
45-49A-63.104
Section 45-49A-63.104 City contributions. (a) The city shall contribute to the fund an amount equal to the excess, if any, of (i) the annual actuarial cost for the plan determined as of each October 1 over (ii) all amounts contributed to the fund under Sections 45-49A-63.100, 45-49A63.101, and 45-49A63.102 during the plan year beginning on the date the annual actuarial cost is determined. The city's contribution under this section shall be paid to the fund no later than 18 months following the date as of which such annual actuarial cost is determined. (b) The city may make such additional contributions to the fund as it deems advisable to insure the fiscal integrity of the fund. (c) For purposes of this section, annual actuarial cost means the annual cost of the plan as determined by the enrolled actuary, as defined in Section 7701(a)(35) of the code, designated by the board using reasonable actuarial assumptions and methods which would meet the requirements of Section 412 of the code,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-63.104.htm - 2K - Match Info - Similar pages
45-37A-51.190
Section 45-37A-51.190 Participants' contributions. (a) Each participant shall contribute to the cost of the system, and the city shall deduct from the participant's pay, an amount equal to not less than six percent nor more than seven percent of actual monthly salary. (b) Should the city through error, inadvertence, or otherwise, neglect to make proper deduction for the fund from the salary of any employee member for any payroll period, the employee member shall be liable to the fund for the amount or amounts that should have been deducted and shall pay that amount to the custodian on demand. (c) Notwithstanding this section, participants who are employees of the Jefferson County Department of Health shall contribute six percent to seven percent of actual pay to the fund. (Act 2006-339, p. 851, Art. V, §1; Act 2011-585, p. 1289, §2; Act 2017-251, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.190.htm - 1K - Match Info - Similar pages
45-37A-51.192
Section 45-37A-51.192 City's contributions. (a) The city shall pick up employer payment of required participants' contributions in lieu of salary or wages through a program and plan amendments relating to the city's employees meeting the requirements of the United States Internal Revenue Code, as amended. (b)(1) Beginning July 1, 1995, the contribution of the employer, excluding the board of health and employees of the board of health, shall be determined by the actuary of the board at the level necessary to fully fund the system. The actuary shall be required to make the determination for each actuarial year. (2) Beginning on July 1, 2017, the employer's total minimum rate of contribution into the fund, excluding the board of health, shall increase to 7.25 percent. (3) Beginning on July 1, 2018, the employer's total minimum rate of contribution into the fund, excluding the board of health, shall increase to 8.50 percent. (4) Beginning on July 1, 2020, the employer's total minimum rate...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.192.htm - 1K - Match Info - Similar pages
45-28A-42.68
Section 45-28A-42.68 Reimbursements of contributions. If any employee terminates his or her employment before becoming eligible for retirement benefits, such employee shall receive a lump sum payment from the board of trustees, within 90 days after filing a written application with the board, the lump sum payment to be based on the following scale: (1) From zero to and including the 5th year the employee shall receive 100 percent of all amounts he or she has contributed to the fund. (2) From six to and including the 10th year the employee shall receive 100 percent of all amounts he or she has contributed plus an amount equal to one percent per year of employment contributed by the City of Gadsden. (3) From 11 to and including the 20th year the employee will receive 100 percent of all amounts he or she has contributed plus an amount equal to two percent per year of employment contributed by the City of Gadsden. (Act 80-442, p. 674, §20.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-28A-42.68.htm - 1K - 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
45-37-123.135
Section 45-37-123.135 Annual benefit attributable to mandatory employee contributions. (a) Effective for limitation years beginning on and after December 31, 2001, in the case of mandatory employee contributions as defined in § 411(c)(2)(C), Internal Revenue Code, and Treasury Regulation § 1.411(c)-1(c)(4), or contributions that would be mandatory employee contributions if § 411, Internal Revenue Code, applied to the plan, the annual benefit attributable to such mandatory employee contributions is determined by applying the factors applicable to mandatory employee contributions as described in § 411(c)(2)(B) and (C), Internal Revenue Code, and regulations promulgated under § 411, Internal Revenue Code, to those contributions to determine the amount of a straight life annuity commencing at the annuity starting date, regardless of whether the requirements of § 411 and § 417, Internal Revenue Code, apply. (b) For purposes of applying such factors to the plan, the applicable...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.135.htm - 1K - Match Info - Similar pages
45-49A-63.105
Section 45-49A-63.105 Return of contributions. The city may recover without interest the amount of its contributions to the plan made on account of a mistake in fact, reduced by any investment loss attributable to those contributions, if recovery is made within one year after the date of those contributions. (Act 97-689, p. 1379, § 7(6.06).)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-63.105.htm - 655 bytes - Match Info - Similar pages
|