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45-28A-42.54
Section 45-28A-42.54 Management and control of retirement fund. (a) The board of trustees of
the policemen's and firemen's retirement fund is hereby declared to be the trustee of the
policemen's and firemen's retirement fund and shall have the exclusive management and control
thereof, and all matters legitimately connected therewith. The board of trustees shall have
the power to recommend such rules and regulations as may be necessary to enable it to effectively
and properly to carry into execution the purposes for which it was organized and created,
and to enable it properly to manage and conduct the business entrusted to it, provided such
rules and regulations shall in no way contravene this subpart; and provided further that such
rules and regulations so recommended shall not become effective until written notice of such
recommendations is posted in all police and fire stations of the city, and after 10 days'
notice thereof, an election is held in each of the departments, in which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-28A-42.54.htm - 6K - Match Info - Similar pages
45-37A-51.260
Section 45-37A-51.260 Loans to participants. The board shall have the right to lend to any
employee member from the fund such an amount of money as will not cause the aggregate of indebtedness
of the employee member to the fund immediately after such loan to exceed 50 percent of the
amount of contribution returnable to him or her or to those claiming under him or her, were
he or she to become separated from the service immediately after such loan. Interest on such
loan shall be charged at the rate of six to seven percent per annum as determined by the board
annually. (Act 2006-339, p. 851, Art. VII, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.260.htm - 923 bytes - Match Info - Similar pages
45-39-241.40
Section 45-39-241.40 Purchase of credit for time served as chief deputy sheriff. (a) The tax
assessor and tax collector serving Lauderdale County on April 13, 1981, and being active members
of the supernumerary tax collectors and tax assessors of Alabama pursuant to Section 40-6-1,
as amended, shall each be entitled to claim and purchase up to five years credit for time
served as chief deputy sheriff for the county provided that each shall pay to the system on
or before 90 days from April 13, 1981, a sum equal to the contributions which he or she would
have contributed during the period of prior service based on his or her annual compensation
in each year of prior service claimed at the percentage rate of member contribution prevailing
at the time payment is made hereunder, together with interest compounded at eight percentum
annually until the date of repayment. (b) All laws to the contrary notwithstanding, the employer
cost for the granting of any service credit under this section...
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16-25-4
Section 16-25-4 Transfer of membership from the Employees' Retirement System of Alabama generally.
(a) Any member of the Teachers' Retirement System who, not more than one year prior to becoming
a member of the Teachers' Retirement System, was a member of the Employees' Retirement System
of Alabama may elect to transfer to the Teachers' Retirement System his service credits in
said Employees' Retirement System, as herein provided. (b) Any such member so desiring to
transfer such service credits shall notify the Board of Control of the Teachers' Retirement
System after he becomes a member of the Teachers' Retirement System of his election to transfer
such service credits and shall authorize transfer of the amount of his accumulated contributions
to his credit in said Employees' Retirement System to the annuity savings fund of the Teachers'
Retirement System. (c) The Board of Control of the Employees' Retirement System shall thereupon
certify to the Board of Control of the Teachers'...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-4.htm - 3K - Match Info - Similar pages
36-27-55
Section 36-27-55 Purchase of prior service credit by certain members with prior service in
Office of Agriculture Economics at Auburn University; cost; termination date. (a) Any acting
and contributing member of either the Teachers' or the Employees' Retirement System may elect
to purchase prior service credit for any full time employment he or she had in the Office
of Agriculture Economics at Auburn University, provided such person complies with the following
conditions prescribed in this section. (b) Any member eligible to claim and purchase such
credit for service under subsection (a) of this section shall be awarded creditable service
under either the Teachers' or the Employees' Retirement System, as the case may be, provided
he or she shall pay into his or her retirement system or fund, prior to said member's date
of retirement and prior to October 1, 1991, a sum equal to a percentage of his or her current
annual earnable compensation, or average final compensation, whichever is...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-55.htm - 1K - Match Info - Similar pages
45-28A-42.60
Section 45-28A-42.60 Forfeiture of benefits during reemployment; retirement. (a) No person
retired after October 1, 1975, under the policemen's and firemen's retirement fund can be
reemployed full time by the City of Gadsden in any department, without first having signed
an agreement forfeiting his or her pension benefits during the time of reemployment. For purposes
of this subpart, full time employment means 20 hours or more per week. Benefits shall be resumed
upon termination of employment. In no instance shall the benefits lost during the time of
reemployment be recovered by the person. This subsection shall not be interpreted to include
those members drawing survivor's benefits. (b) Any member of the police and fire department
of a city to which this subpart applies who has been in continuous service thereof for as
long as 20 years, upon making written application to the board of trustees therefor shall,
without medical examination or disability, be retired from services in such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-28A-42.60.htm - 2K - Match Info - Similar pages
45-49A-81.09
Section 45-49A-81.09 Permanent disability of city employee. If any employee of the City of
Prichard, Alabama, while in the performance of his or her duties, becomes or is found to be
physically or mentally permanently disabled for service in his or her respective department,
by reason of service therein, so as to render his or her retirement from such service necessary,
the City Council of the City of Prichard, Alabama, shall make the necessary orders and shall
retire such disabled employee from service in the department in which the disability occurred;
and upon retirement, such member shall be paid monthly or semi-monthly, from the fund, an
amount equal to 60 percent of his or her compensation at the time of such disability or an
amount equal to 60 percent of the average compensation of such employee over the then preceding
four years, whichever shall be the greater. Provided that such payment shall not continue
for a longer than five year period, provided, further, that during such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-81.09.htm - 2K - Match Info - Similar pages
25-4-55
Section 25-4-55 Payment of interest on moneys advanced by federal government - Contributory
employer's assessment; method of determining amount; procedures. In addition to all other
contributions required to be paid by the provisions of Sections 25-4-51 and 25-4-54, when
the Unemployment Compensation Trust Fund of this state has received advances from the federal
government under the provisions of 42 U.S.C. 1321, each contributory employer shall be assessed
an additional rate solely for the purpose of paying interest due on such federal advances.
The additional rate assessed to any employer shall be determined by dividing the estimated
amount of interest to be paid on such advanced moneys minus any balance in this special fund
by 95 percent of the wages as defined in Section 25-4-16 paid by all Alabama contributory
employers during the immediately preceding calendar year. The amount to be paid by each employer
shall be the product obtained by multiplying such employer's wages as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-55.htm - 2K - Match Info - Similar pages
36-27-204
Section 36-27-204 Pensioners who retired prior to membership of employer in system; beneficiaries.
(a) Commencing October 1, 2006, any retired employee who retired from a city, town, county,
or public or quasi-public organization of the state before the city, town, county, or public
or quasi-public organization of the state became a member of the Employees' Retirement System,
and who is receiving a monthly benefit prior to October 1, 2005, administered by the Employees'
Retirement System may receive the cost-of-living increase of two percent in his or her gross
monthly benefit which the Legislature committed to in Section 14 of Act 2005-316, plus an
additional five percent increase in his or her gross monthly benefit, except that no pensioner
shall receive an increase of less than twenty-five dollars ($25) per month, provided the retired
employee retired prior to October 1, 2005, and the employer decides to come under this article
and fund the increase. (b) Commencing October 1, 2006,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-204.htm - 1K - Match Info - Similar pages
36-27-56
Section 36-27-56 Granting of credit for service as county solicitor - Sum to be paid into retirement
system to purchase credit for service. (a) Any active and contributing member of any member
unit of the State of Alabama retirement systems who has been such a member for at least one
year may hereby claim and purchase credit in his or her respective member unit of the State
of Alabama retirement systems for service rendered to any county government as a county solicitor.
Such retirement systems member shall be allowed to purchase such prior service for a period
of prior service time not to exceed eight years' total service as county solicitor. (b) Any
member eligible to claim and purchase credit for such county service under subsection (a)
shall be awarded such credit under such member unit of the Retirement Systems of Alabama provided
he or she shall pay into his or her respective retirement system fund prior to said member's
date of retirement and not later than October 1, 1993, a...
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