§ 45-37A-51.241 — Board of Health Retired Employees

Alabama § 45-37A-51.241

• Jurisdiction: Alabama
• Title 45: Local Laws
• Ch. 37A: Jefferson County Municipalities
• Art. 5: Birmingham
• Part 2: Employees
• Subpart 6: Benefits

Text

(a) Employees of the board of health, upon termination of such employment after 10 years of actual service to the board of health, shall have the option to leave in the system fund all contributions made by such terminated employee and receive a monthly retirement benefit beginning at age 60, in the amount equal to two percent of such employee’s monthly final average salary multiplied by his or her years of credited service. The benefit shall continue throughout the life of the retiree. A survivor’s benefit calculated as described in Section 45-37A-51.228 shall be provided to survivors or retirees under this provision if such retired employee has reached age 60 years, however the survivor’s benefit rate shall be 60 percent of the retiree’s benefit or as determined by the board of managers. In the event that a terminated employee dies, prior to receiving a benefit hereunder, or elects at any time to withdraw the contribution to the system fund, then such contribution shall be paid to the employee or his or her designee without interest and the terminated employee, and those claiming under him or her, shall have no further rights in the fund.
(b) The actuary who prepares the annual analysis of the system shall determine the annual cost of this provision, based upon such assumptions as the actuary shall find are reasonable, and certify the cost to the city and to the board of health.
(c) This provision shall become effective following the date of adoption hereof if the board of health shall have irrevocably committed to pay the vesting benefit contained herein. Such payments may be from funds of the board of health or from employee salary deductions as the board of health may determine.

Legislative History

(Act 2006-339, p. 851, Art. VI, §23.)