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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-150.htm - 3K - Match Info - Similar pages
16-25-9
Section 16-25-9 Certain school bus drivers, mechanics and maintenance workers - Generally. (a) All fully budgeted school bus drivers (excluding students), mechanics and maintenance workers not now covered by the Teachers' Retirement System of Alabama or Employees' Retirement System of Alabama, who are employed by any county or city board of education or the governing board of any public school in Alabama regardless of the source from which and the manner in which their salaries are paid, may become members of the Teachers' Retirement System of Alabama; provided, that such persons elect within six months after October 2, 1971, to accept the benefits of this chapter. Such persons may signify their desire to become members of the Teachers' Retirement System by enrolling through their employer and the Secretary-Treasurer of the Teachers' Retirement System within said six months' period. Any person hereafter employed in these positions shall be deemed to be a "teacher" within the meaning of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-9.htm - 2K - Match Info - Similar pages
36-27-1
Section 36-27-1 Definitions. When used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) RETIREMENT SYSTEM. The Employees' Retirement System of Alabama as defined in Section 36-27-2. (2) EMPLOYEE. Any regular employee of the State of Alabama whose salary is paid by state warrant by the state, except a member of the Legislature of the state, a person who is covered or eligible to be covered under the Teachers' Retirement System of Alabama or any other retirement system to which contributions are made by the state, an elective official of the state government, and a temporary employee or person engaged under retainer or special agreement. In all cases of doubt the Board of Control shall determine who is an employee within the meaning of this article. The term shall include any regular employee of the Alabama state hospitals and Partlow State School and Hospital and the Alabama State Port Authority,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-1.htm - 8K - Match Info - Similar pages
36-27-5.1
Section 36-27-5.1 Participation of employees of regional or local legislative delegation office. (a) Any person who is employed full-time by a regional or local legislative delegation office shall be deemed to be an "employee" of the State of Alabama, as defined in Section 36-27-1. From the date he assumes his duties, any such person shall be deemed to be a "member" of the state Employees' Retirement System, as defined in Section 36-27-4; provided, that the required contributions are made to the system. (b) Any person serving as of October 1, 1991, shall be entitled to receive credit toward his retirement allowance for any service previously rendered as an employee of a regional or local legislative delegation office, and any person employed by such offices thereafter shall become a member of the Employees' Retirement System as a condition of employment. If he elects to do so, he may notify the Board of Control of the Employees' Retirement System of his intention to claim such credit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-5.1.htm - 2K - Match Info - Similar pages
41-15A-6
Section 41-15A-6 Definitions; duties of board. (a) As used in this chapter, the following words shall have the following meanings, respectively: (1) BOARD. The Board of Control of the Penny Trust Fund, which shall consist of the following officials or their designees and the following representatives: a. The Governor. b. The State Treasurer. c. The State Health Officer. d. The State Superintendent of Education. e. The State Auditor. f. A member to be appointed by the Governor from one of Alabama's historically black colleges and universities, whose term on the board shall end when the appointing Governor's term ends. g. A member to be appointed by the Governor from a non-profit health-related agency, organization, or health-related community action agency, whose term on the board shall end when the appointing Governor's term ends. (2) EARNINGS. Ninety percent of the prior fiscal year's earnings of the Penny Trust Fund. (b) The duties of the board shall include, but not necessarily be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15A-6.htm - 2K - Match Info - Similar pages
16-25-3
Section 16-25-3 Membership; membership credit for service in armed forces of United States; deferred benefits. (a) The membership of the retirement system shall consist of the following: All persons who shall become teachers after the date of establishment shall become members of the retirement system as a condition of their employment. Any person who is a teacher on the date of establishment shall become a member as of that date unless within a period of 90 days next following such teacher shall file with the Board of Control on a form prescribed by the board a notice of his election not to be covered in the membership of the system and a duly executed waiver of all present and prospective benefits which would otherwise inure to him on account of his participation in the retirement system. (b) A teacher in service on October 1, 1973, whose membership in the retirement system was contingent on his own election and who elected not to become a member may thereafter apply for and be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-3.htm - 7K - Match Info - Similar pages
16-25-82
Section 16-25-82 Appropriations; funding for benefits. (a) There is appropriated from the Education Trust Fund to the Teachers' Retirement System of Alabama $20,610,644 for the fiscal year beginning October 1, 1993. (b) There is appropriated from the Education Trust Fund to the Employees' Retirement System $38,320 for the fiscal year beginning October 1, 1993, to partially defray the costs of this section as they relate to retired employees of local boards of education and state institutions of higher education who are retired under the Employees' Retirement System. (c) The Board of Control of the Teachers' Retirement System shall determine annually the amount to pay the cost of the benefits provided in this article and shall notify the chief fiscal officer of each employer the percentum rate of earnable compensation required to be paid to the retirement system. Each employer of members of the Teachers' Retirement System of Alabama shall pay on account of the increase provided in this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-82.htm - 1K - Match Info - Similar pages
22-35-4
Section 22-35-4 Alabama Underground and Aboveground Storage Tank Trust Fund. There is hereby created the Alabama Underground and Aboveground Storage Tank Trust Fund, hereinafter referred to as the "fund," to be administered by the Secretary-Treasurer of the Retirement Systems of Alabama. The fund shall be used by the department as a revolving fund for carrying out the purposes of this chapter. The fund is not an insurance company and the laws relating to the conduct of business in this state by an insurance company do not apply to the fund. A decision that underground or aboveground storage tanks are ineligible for benefits under the fund does not expose the fund, the director, department, or commission to a claim of bad faith as such terms are used in general insurance law. Further, in no event shall combined claims against the fund for payment of response actions and third-party claims exceed the per occurrence indemnification limit set by the commission. Under no circumstances shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-35-4.htm - 6K - Match Info - Similar pages
36-27A-5
Section 36-27A-5 Eligibility. The PEIRAF shall be available to all public employees in the State of Alabama who are members of the Teachers' Retirement System, the Employees' Retirement System or the Judicial Retirement Fund. In addition, any employee of an employer eligible to participate in the Employees' Retirement System pursuant to the provisions of Section 36-27-6, or any public official or employee of the State of Alabama or any political subdivision thereof, shall be eligible to participate under the provisions of this chapter. Participation in this fund shall be on a strictly voluntary basis under such rules and regulations as shall be adopted by the board of control and in accordance with the provisions contained in the Internal Revenue Code as it relates to individual retirement accounts for public employees. Any person who shall become ineligible for participation in the PEIRAF due to the termination of his employment with an eligible employer may leave his contributions on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27A-5.htm - 1K - Match Info - Similar pages
16-25-10.9
Section 16-25-10.9 Officers and employees of Tennessee Valley Rehabilitation Center, Inc.; contributions; creditable service. (a) This section shall apply only to the employees and executive staff members of the Tennessee Valley Rehabilitation Center, Inc., who were active and contributing members of the Teachers' Retirement System on August 1, 1994 through John C. Calhoun Community College. (b) The Board of Directors of the Tennessee Valley Rehabilitation Center, Inc., may, by resolution legally adopted to conform to the rules prescribed by the Board of Control of the Teachers' Retirement System, elect to have the full-time employees and executive staff members as defined in subsection (a), from whatever source and in whatever manner paid, become eligible to participate in the Teachers' Retirement System, subject to all rules, regulations, and conditions of the system. (c) When an election is made to join the Teachers' Retirement System pursuant to subsection (b), the full-time...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-10.9.htm - 2K - Match Info - Similar pages
|