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Section 16-25-32 – Admission of Employees and Members of State Employees’ Association, the Alabama Retired State Employees’ Association and the State Credit Union Into Teachers’ Retirement System.

Section 16-25-32 Admission of employees and members of State Employees’ Association, the Alabama Retired State Employees’ Association and the State Credit Union into Teachers’ Retirement System. (a) The governing body of the Alabama State Employees’ Association, the Alabama Retired State Employees’ Association and the State Employees’ Credit Union may, by resolution legally adopted to conform […]

Section 16-25-18 – Redetermination of Allowances of Certain Retired Members.

Section 16-25-18 Redetermination of allowances of certain retired members. (a) Any member who retired prior to October 1, 1975 and who has served in the armed services, as described in Section 16-25-3, shall be entitled to claim such full-time military service and to have all retirement allowances due on or after October 1, 1975 redetermined […]

Section 16-25-33 – Term Life Insurance Fund; Payment of Benefits; Funding.

Section 16-25-33 Term Life Insurance Fund; payment of benefits; funding. (a) A separate fund to be known as the Term Life Insurance Fund is hereby established within the Teachers’ Retirement System of Alabama. Such fund shall consist of all monies paid by the employers for term life insurance, and of the investment earnings of such […]

Section 16-25-19 – Administration.

Section 16-25-19 Administration. (a) The general administration and responsibility for the proper operation of the retirement system and for making effective the provisions of this chapter are hereby vested in a board of trustees which shall be known as the Board of Control and shall be organized immediately after a majority of the trustees provided […]

Section 16-25-34 – Compliance With Qualification Standards.

Section 16-25-34 Compliance with qualification standards. The Board of Control of the Teachers’ Retirement System of Alabama is authorized to implement any new accounting procedures, funds, or administrative changes and to provide for the payment of benefits to members or beneficiaries of the retirement system as may be necessary to ensure the Teachers’ Retirement System […]

Section 16-25-20 – Management of Funds.

Section 16-25-20 Management of funds. (a) (1) The Board of Control shall be the trustees of the several funds of the Teachers’ Retirement System created by this chapter as provided in Section 16-25-21, and shall have full power to invest and reinvest the funds, through its Secretary-Treasurer, in the classes of bonds, mortgages, common and […]