Section 45-8A-22.100 Applicability, the trust and the retirement board. (a) This subpart shall apply only to the City of Anniston. (b) Act 608 of the 1951 Regular Session (Acts 1951, p. 1045), as last repealed and reenacted by Act 2002-298 and Act 2002-304 of the 2002 Regular Session (Acts 2002, p. 815), now appearing as […]
Section 45-8A-22.101 Retirement board membership; secretary-treasurer. (a) Retirement Board. (1) The retirement board shall be composed of five members: a. One member shall be elected by the retirees and surviving spouses of retirees of the plan. b. One member shall be a member of the City of Anniston Fire Department (“fire department”) elected by the […]
Section 45-8A-22.102 Powers and duties of the retirement board.. (a) The retirement board shall be responsible for the general administration and proper operation of the plan and shall administer the plan for the exclusive benefit of participants and their beneficiaries, subject to the terms of the plan. The retirement board shall administer the plan in […]
Section 45-8A-22.103 Trustee; pensions and benefits. (a) The retirement board or the person or entity appointed by the retirement board and named as trustee in any separate trust forming a part of the plan shall serve as the trustee of the trust (the “trustee”). It may adopt and enforce necessary rules and regulations to carry […]
Section 45-8A-22.104 Investment of the trust for revenue purposes. (a) The retirement board and any investment manager it appoints is authorized to invest and reinvest the funds of the trust in all classes and forms of bonds, mortgages, common and preferred stocks, shares of investment companies or mutual funds, or any other investment. The retirement […]
Section 45-8A-22.105 Reports. On a regular basis, but not less than annually, the retirement board shall provide a report to the City Council of the City of Anniston regarding the condition of the trust and shall cause such report to be published each year in a newspaper of general circulation published in the City of […]
Section 45-8A-22.106 List of retired police and firefighters. There shall be kept by the secretary-treasurer a book to be known as the List of Retired Police and Firefighters. The book shall give a full and complete history and record of the action of the retirement board in retiring any and all persons under the plan, […]
Section 45-8A-22.107 Retirement board’s attorney. The retirement board shall be authorized to employ the services of such attorney as it deems appropriate to represent the interests of the plan and to pay as compensation for such attorney’s services an amount to be approved by the retirement board. It shall be the duty of the retirement […]
Section 45-8A-22.108 Reasonable and necessary expenses. The retirement board shall be authorized to pay out of the trust all benefits, expenses of administration, including the cost of advertising amendatory or supplementary legislation related to the plan, and other expenses arising hereunder, unless otherwise paid by the City of Anniston. Such expenses shall include expenses incident […]
Section 45-8A-22.109 Contributions to the trust. (a) The secretary-treasurer shall receive contributions to the trust that shall consist of the following: (1) All of the money, securities, things of value, and assets belonging to any similar fund now being maintained by the City of Anniston. (2) All money or properties that may be given or […]
Section 45-8A-22.110 Participation. (a) Every individual who becomes employed by the City of Anniston, excluding any person who is employed as an independent contractor, as a sworn police officer or as a sworn firefighter shall become a participant (“participant”) in the plan and shall make contributions to the trust in accordance with Section 45-8A-22.109. (b) […]
Section 45-8A-22.111 Participant eligibility for benefits. A participant’s service with the City of Anniston as a sworn police officer or a sworn firefighter is used to determine the participant’s eligibility for a benefit from the plan and the amount of benefits that the participant may be entitled to receive. Unless provided otherwise, service shall be […]
Section 45-8A-22.112 Credit for military service. (a) Qualified Military Service. The plan will grant continuous service in accordance with the Uniformed Services Employment and Reemployment Rights Act of 1994 (“USERRA”), 38 U.S.C. Sections 4301 through 4333, for a participant who is an employee immediately prior to the commencement of qualified military service, as defined in […]
Section 45-8A-22.113 Retirement eligibility and benefit. (a) Participants Hired Before May 29, 1979. Subject to Section 45-8A-22.114, any person who was hired by the City of Anniston as a sworn police officer or sworn firefighter before May 29, 1979, and who has been in continuous service as a participant for a period of 20 years […]
Section 45-8A-22.114 Normal retirement age. (a) Effective with respect to retirements that occur before October 1, 2012, the retirement board shall retire from service any participant who has attained age 60 years, and such participant shall be entitled to receive a monthly benefit from the plan equal to three percent of the average of his […]
Section 45-8A-22.115 Compensation for purposes of benefit calculations. (a) Compensation. For purposes of calculating contributions to the plan in accordance with Section 45-8A-22.109 and benefits paid under the plan in accordance with Section 45-8A-22.113, Section 45-8A-22.116, and Section 45-8A-22.119, “compensation” shall include all of the following amounts: (1) Regular salary, including accumulated vacation pay. (2) […]
Section 45-8A-22.116 Disability benefits. (a) Line of Duty Disability Benefit. (1) Effective for Disabilities Occurring Before October 1, 2012. a. Participants Hired Before July 1, 2002. A participant, who was hired by the City of Anniston as a sworn police officer or sworn firefighter before July 1, 2002, who becomes permanently physically or mentally disabled […]
Section 45-8A-22.117 Termination of employment; return of contributions; participation in the plan ceased. In the event a participant terminates employment with the City of Anniston as a sworn police officer or sworn firefighter for any reason prior to becoming eligible for a benefit from the plan, the participant shall be entitled to receive all his […]
Section 45-8A-22.118 Maximum benefits; limitations; adjustments. (a) Annual Benefit and Final Regulations Under Internal Revenue Code Section 415. (1) Annual Benefit. For purposes of this section, “annual benefit” means the benefit payable annually under the terms of the plan, exclusive of any benefit not required to be considered for purposes of applying the limitations of […]
Section 45-8A-22.119 Death benefits. (a) Participant Death in the Line of Duty. (1) Effective for Deaths Occurring Before October 1, 2012. a. Surviving Spouse. If a participant dies as a result of injuries received in the line of duty and leaves a surviving spouse, the retirement board shall direct the payment to the surviving spouse […]
