§ 36-27-6.4 — Purchase of Credit for Prior Service with the Oxford Emergency Medical Services, Inc

Alabama § 36-27-6.4

• Jurisdiction: Alabama
• Title 36: Public Officers and Employees
• Ch. 27: State Employees’ Retirement System
• Art. 1: General Provisions

Text

(a) Any active and contributing member of the Oxford Emergency Medical Services, Inc., that participates in the Employees’ Retirement System under Section 36-27-6, may purchase prior non-qualified service for employment rendered to Oxford Emergency Medical Services before July 14, 2009, as permitted by the IRC Section 415(n)(3)(B). Currently, under federal law the employee must have five or more years of creditable service in the Employees’ Retirement System prior to purchasing up to five years’ non-qualified service.
(b) No member shall receive credit for any service that the member is already credited with in the system or any other public retirement plan, with the exception of the federal Social Security program.
(c) Any member who is eligible to purchase service credit shall furnish to the Secretary-Treasurer of the Employees’ Retirement System the full actuarially determined cost for each year of claimed service as determined by the system’s actuary.
(d) Any year of service purchased under the provisions of this section shall not be considered in determining the out-of-pocket premium amount charged to retirees under the provisions of Section 16-25A-8.1 or Section 36-29-19.7. Also, any service purchased under this section shall not entitle a member to be eligible for benefits under either the PEEHIP or SEIB any earlier than the member could have reached eligibility under the plan without the service purchased under the provisions of this section.

Legislative History

(Act 2012-558, p. 1641, §1.)