Section 36-27-161 – Article Supplemental; Repeal of Conflicting Laws.
Section 36-27-161 Article supplemental; repeal of conflicting laws. The provisions of this article are supplemental. It shall be construed in pari materia with other laws regulating and providing for the payment of retirement benefits to the retired members of the Employees’ Retirement System. However, those laws or parts of laws which are in direct conflict […]
Section 36-27-191 – Amount of Increase – Persons Whose Employer Elects to Come Under Provisions.
Section 36-27-191 Amount of increase – Persons whose employer elects to come under provisions. (a) Commencing October 1, 2005, each person whose employer participated in the Employees’ Retirement System pursuant to Section 36-27-6, whose effective date of retirement for purposes of receiving benefits from the Employees’ Retirement System is prior to October 1, 2004, and […]
Section 36-27-208 – Members and Beneficiaries of Employees’ Retirement System.
Section 36-27-208 Members and beneficiaries of Employees’ Retirement System. Commencing October 1, 2006, there is provided an increase in benefits to certain persons identified in this section who are currently receiving benefits whose effective date of retirement was prior to October 1, 2005, for purposes of receiving benefits from the Employees’ Retirement System, and to […]
Section 36-27-170 – Participation in Plan.
Section 36-27-170 Participation in plan. (a) As governed by this subsection, there exists as a part of this retirement system, an optional account known as the Deferred Retirement Option Plan, which may be cited as “DROP.” The purpose of DROP is to allow, contractually, in lieu of immediate withdrawal from service and receipt of a […]
Section 36-27-192 – Amount of Increase – Persons Whose Employer Participated in Employees’ Retirement System.
Section 36-27-192 Amount of increase – Persons whose employer participated in Employees’ Retirement System. Commencing October 1, 2005, each person whose employer participated in the Employees’ Retirement System pursuant to Sections 36-27-7 and 36-27-7.1, whose effective date of retirement for purposes of receiving benefits from the Employees’ Retirement System is prior to October 1, 2004, […]
Section 36-27-171 – Withdrawal From Service; Death of Participant.
Section 36-27-171 Withdrawal from service; death of participant. (a) On withdrawing from service pursuant to Section 36-27-16, a member who participated in DROP: (1) Who fulfilled his or her contractual obligation pursuant to DROP shall receive a lump-sum payment from his or her DROP account equal to the payments made to that account on his […]
Section 36-27-193 – Duties of Board and Employer.
Section 36-27-193 Duties of board and employer. The Board of Control of the Employees’ Retirement System shall determine annually the amount required to pay the cost of the increased allowance provided under Sections 36-27-190 and 36-27-192, and shall notify the chief fiscal officer of each employer of the per centum rates of earnable compensation of […]
Section 36-27-172 – Relation to Federal Law.
Section 36-27-172 Relation to federal law. At no time shall any provision or implementation of such provision pertaining to DROP be contrary to the rules and regulations of the federal law governing governmental plans. DROP is intended to operate in accordance with Section 415 and other applicable sections of the United States Internal Revenue Code. […]
Section 36-27-194 – Pensioners Who Retired Prior to Membership of Employer in System; Beneficiaries.
Section 36-27-194 Pensioners who retired prior to membership of employer in system; beneficiaries. (a) Commencing October 1, 2005, 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’ […]
Section 36-27-173 – Relation to Section 36-27-6.
Section 36-27-173 Relation to Section 36-27-6. This article shall not apply to any unit participating pursuant to Section 36-27-6, unless the governing body of such employer shall agree to come under this section and assume any costs associated with implementation of the DROP program. When such a unit exercises an option to participate in the […]