Section 36-36-2 – Short Title.
Section 36-36-2 Short title. The name of this chapter is the Alabama Retiree Health Care Funding Act of 2007. (Act 2007-16, 1st Sp. Sess., p. 25, §2.)
Section 36-36-3 – Definitions.
Section 36-36-3 Definitions. As used in this chapter, the following words and phrases shall have the following respective meanings: (1) ALABAMA RETIRED EDUCATION EMPLOYEES’ HEALTH CARE TRUST. The Alabama Retired Education Employees’ Health Care Trust created by the state and the Public Education Employees’ Health Insurance Board pursuant to this chapter. (2) ALABAMA RETIRED STATE […]
Section 36-36-4 – Trust Instrument; Trustees.
Section 36-36-4 Trust instrument; trustees. The trusts created pursuant to this chapter shall be evidenced by a written trust instrument, the terms and conditions of which shall be determined by the board creating such trust and the Governor on behalf of the state as long as such terms and conditions do not conflict with this […]
Section 36-36-5 – Management and Control of Trust; Powers of Trustees; Payment of Expenses.
Section 36-36-5 Management and control of trust; powers of trustees; payment of expenses. (a) The trusts shall be under the management and control of their respective trustees. All powers necessary or otherwise advisable for the management and control of the trusts shall be vested solely in the respective trustees. (b) The trustees shall have all […]
Section 36-36-6 – Sources of Funding; Use of Assets; Distributions; Modification and Termination of Trusts; Taxation; Financial Statement.
Section 36-36-6 Sources of funding; use of assets; distributions; modification and termination of trusts; taxation; financial statement. (a) The sources of funding to the Alabama Retired State Employees’ Health Care Trust may be: (1) appropriations made by the Legislature; (2) contributions by employees and retired employees; (3) employer contributions; (4) investment income; (5) proceeds of […]
Section 36-36-7 – Legislative Intent.
Section 36-36-7 Legislative intent. It is the intent of the Legislature that the state and the boards establish and the trustees operate the trusts in compliance with the Internal Revenue Code of the United States of America in a manner which would allow the trusts to maximize investment earnings while minimizing the costs to the […]
Section 36-36-8 – Liability of Trustees.
Section 36-36-8 Liability of trustees. (a) A trustee shall not be: (1) personally liable for any liability, loss, or expense suffered by the trust, unless such liability, loss, or expense arises out of or results from the willful misconduct or intentional wrongdoing of such trustee; (2) responsible for the adequacy of the trust to meet […]
Section 36-36-9 – Applicability of Chapter.
Section 36-36-9 Applicability of chapter. Nothing in this chapter shall be construed to define or otherwise grant any right or privilege to health care benefits or other post-employment benefits to any person other than those health care benefits or other post-employment benefits, rights, and privileges previously or already granted to employees and retired employees and […]
Section 36-35-4 – Calculation of Savings From Drug Discounts; Disbursement of Savings.
Section 36-35-4 Calculation of savings from drug discounts; disbursement of savings. Savings achieved through drug discounts received by departments and governmental entities shall be calculated on a quarterly basis by the board. A prorated share of the savings of each department or governmental entity, based on the percentage of the department or entity patronage as […]
Section 36-36-10 – Permanent Legislative Oversight Committee.
Section 36-36-10 Permanent legislative oversight committee. REPEALED IN THE 2018 REGULAR SESSION BY ACT 2018-152 EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (Act 2007-16, 1st Sp. Sess., p. 25, §10.)