Section 45-37-123.82 - Employee contributions.

AL Code § 45-37-123.82 (2019) (N/A)

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(a) Employee contributions generally. As a condition of employment and of accruing benefits under the plan, each member shall contribute six percent of such member’s compensation to the plan through after tax salary deferrals. The county shall withhold such employee contributions each payroll period and the aggregate amount so deducted shall be paid over to the treasurer of the system for deposit in the trust fund. Employee contributions shall begin on the member’s first paycheck after a member becomes eligible for membership in the system as provided for in Section 45-37-123.50. In the event that the county fails to withhold any employee contributions, the county may withhold such amounts from future paychecks as are necessary to restore the amounts not withheld.

(b) Withdrawal or refunds of employee contributions. Employee contributions may be withdrawn or refunded only as provided in Section 45-37-123.104.

(1) PARTICIPATION IN ANOTHER PENSION SYSTEM. A member may terminate employee contributions if he or she becomes a member of another pension system, as further provided in Section 45-37-123.104(3).

(2) ACCRUAL OF MAXIMUM BENEFIT. A member may terminate employee contributions when the member’s service entitles him or her to receive the maximum benefit available under the plan, as further provided in Section 45-37-123.104(4).

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Section 45-37-123.81 - Actuarial methods.

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Section 45-37-123.83 - Forfeitures, donations, and other similar contributions.