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 […]
Section 16-25-40 – Persons Whose Date of Retirement Is Prior to October 1, 1987 or Beneficiaries of Deceased Members or Retirees Entitled to Cost of Living Increases.
Section 16-25-40 Persons whose date of retirement is prior to October 1, 1987 or beneficiaries of deceased members or retirees entitled to cost of living increases. There is hereby provided, commencing October 1, 1988, to each person whose effective date of retirement for purposes of receiving benefits from the Teachers’ Retirement System is prior to […]
Section 16-25-11.18 – Purchase of Credit for Prior Service With United States Civil Service.
Section 16-25-11.18 Purchase of credit for prior service with United States Civil Service. (a) Any active and contributing member of the Teachers’ Retirement System or the Employees’ Retirement System may elect to purchase prior service credit in the system for employment that the member had with the United States Civil Service at any military base […]
Section 16-25-21 – Method of Financing.
Section 16-25-21 Method of financing. Effective October 1, 1997, all the assets of the retirement system shall be credited according to the purpose for which they are held among three funds, namely: The Annuity Savings Fund, the Pension Accumulation Fund, and the Expense Fund. The operation of the former Pension Reserve Fund and the Annuity […]
Section 16-25-41 – Persons Whose Date of Retirement Is Prior to October 1, 1987 or Beneficiaries of Deceased Members or Retirees Entitled to Cost-of-Living Increases – Additional Adjustments.
Section 16-25-41 Persons whose date of retirement is prior to October 1, 1987 or beneficiaries of deceased members or retirees entitled to cost-of-living increases – Additional adjustments. In addition to the foregoing amount an additional cost-of-living adjustment is provided effective October 1, 1989 as follows: (1) One dollar per month for each year of service […]
Section 16-25-11.19 – Purchase of Credit for Prior Service With Federal Bureau of Mines.
Section 16-25-11.19 Purchase of credit for prior service with Federal Bureau of Mines. (a) Any active, vested, and contributing member of the Teachers’ Retirement System may claim and purchase service credit in the system not to exceed 8 years for prior service as a full-time employee of the Federal Bureau of Mines. The certification of […]
Section 16-25-22 – Purchase, Sale, etc., of Interests or Estates in Real Property; Establishment of Facilities and Procedures for Purchase of and Payment for Equipment, Etc.
Section 16-25-22 Purchase, sale, etc., of interests or estates in real property; establishment of facilities and procedures for purchase of and payment for equipment, etc. (a) The Retirement Systems of Alabama, which consist of the Employees’ Retirement System of Alabama, the Teachers’ Retirement System of Alabama, and the Judicial Retirement Fund of Alabama shall have […]
Section 16-25-42 – Persons in the Employees’ Retirement System Whose Date of Retirement Is Prior to October 1, 1987 or Beneficiaries of Deceased Members or Retirees Entitled to Cost-of-Living Increases.
Section 16-25-42 Persons in the Employees’ Retirement System whose date of retirement is prior to October 1, 1987 or beneficiaries of deceased members or retirees entitled to cost-of-living increases. (a) There is hereby provided, commencing October 1, 1988 to certain persons identified in subsection (b) herein, whose effective date of retirement for purposes of receiving […]
Section 16-25-11.20 – Purchase of Credit for Time on Medical Leave or Full-Time Employment With Legislature, Etc.
Section 16-25-11.20 Purchase of credit for time on medical leave or full-time employment with Legislature, etc. (a) Any active and contributing member of the Teachers’ Retirement System may claim and purchase service credit in the system for any prior service described and limited as follows: (1) Not more than one year for time spent on […]
Section 16-25-23 – Exemptions From Execution; Recovery Actions.
Section 16-25-23 Exemptions from execution; recovery actions. (a) Except as provided in subsection (b), the right of a person to a pension; an annuity, or a retirement allowance; to the return of contributions; the pension, annuity or retirement allowance itself; any optional benefit or any other right accrued or accruing to any person under the […]