Section 45-49A-63.81 – Optional Forms of Payment.
Section 45-49A-63.81 Optional forms of payment. (a) Any member entitled to a benefit under Section 45-49A-63.60, Section 45-49A-63.61, or subsection (a) of Section 45-49A-63.62 may elect to receive the benefit payable to him or her in one of the following optional forms: (1) OPTION 1. A pension payable during the member’s life only with no […]
Section 45-49A-63.82 – Election of Options.
Section 45-49A-63.82 Election of options. (a) An election under Section 45-49A-63.81 shall be made in a time and manner determined by the board and shall be signed by the member and witnessed by a notary. (b) An election of an option under Section 45-49A-63.81 may be revoked and subsequent elections and revocations may be made, […]
Section 45-49A-63.83 – Distribution Limitation.
Section 45-49A-63.83 Distribution limitation. Notwithstanding any other provision of this subpart, all distributions from this plan shall conform to the regulations issued under Section 401(a)(9) of the code, including the incidental death benefit provisions of Section 401(a)(9)(G) of the code. Further, such regulations shall override any plan provision that is inconsistent with Section 401(a)(9) of […]
Section 45-49A-63.84 – Direct Rollover of Certain Distributions.
Section 45-49A-63.84 Direct rollover of certain distributions. (a) Notwithstanding any provision of the plan to the contrary that would otherwise limit a distributee’s election under this subpart, a distributee may elect, at the time and in the manner prescribed by the board, to have any portion of an eligible rollover distribution paid directly to an […]
Section 45-49A-63.100 – Fines.
Section 45-49A-63.100 Fines. The city shall pay into the fund monthly an amount equal to five percent of all fines and moneys, except costs of court, paid as a result of prosecutions for violations of ordinances or laws of the city during the prior month. (Act 97-689, p. 1379, §7(6.01).)
Section 45-49A-63.101 – Insurance Premiums.
Section 45-49A-63.101 Insurance premiums. (a) On or before the first day of March of each year, each insurance company writing fire insurance on property within the city limits and its police jurisdiction shall pay to the city an amount equal to four percent of its gross premiums, including all renewal premiums, less return premiums, collected […]
Section 45-49A-63.21 – Events Affecting Membership.
Section 45-49A-63.21 Events affecting membership. A person’s membership in the plan shall end when he or she is no longer employed as a uniformed officer or, if he or she is entitled to benefits under the plan, when those benefits have been distributed to him or her. Membership shall continue while on leave, or other […]
Section 45-49A-63.102 – Member Contributions.
Section 45-49A-63.102 Member contributions. Eight percent of the salary of every uniformed officer with less than 30 years of service shall be deducted from his or her pay and shall be transferred to the fund on a monthly basis. No amounts shall be deducted from the pay of a uniformed officer who has at least […]
Section 45-49A-63.22 – Membership Upon Reemployment.
Section 45-49A-63.22 Membership upon reemployment. If a uniformed officer’s membership in the plan ends and he or she again becomes a uniformed officer, he or she shall again become a member on the date he or she again becomes a uniformed officer. (Act 97-689, p. 1379, § 3(2.03).)
Section 45-49A-63.103 – Donations.
Section 45-49A-63.103 Donations. Any person, firm, association, or corporation may donate money to the fund and the board may take by gift, grant, devise, or bequest any money, personal property, real estate, or any interest therein or any right of property for the benefit of the fund. Any gift, grant, devise, or bequest may be […]