Alabama § 36-27-73 Deduction for Administrative Costs

Alabama Statutes

§ 36-27-73 — Deduction for Administrative Costs

Alabama § 36-27-73

JurisdictionAlabama

Title 36Public Officers and Employees

Ch. 27State Employees’ Retirement System

Art. 2Reopening of System for Certain Employees

Div. 3Reopening for Employees of Cities, Counties, or Political Subdivisions

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Bluebook

Ala. Code § 36-27-73 (2026).

Text

The Employees’ Retirement System may deduct in 12 equal installments from the retirement allowance payable to a retired member any additional contributions necessary to pay the administrative costs incurred in granting the credit hereunder in the event its Board of Control and consulting actuaries thereto determine that the amounts contributed by the member under the provisions hereof are insufficient to pay such administrative costs.

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The Employees’ Retirement System may deduct in 12 equal installments from the retirement allowance payable to a retired member any additional contributions necessary to pay the administrative costs incurred in granting the credit hereunder in the event its Board of Control and consulting actuaries thereto determine that the amounts contributed by the member under the provisions hereof are insufficient to pay such administrative costs.