LegalFix
Sign In

Section 45-37-123.151 - Benefit enhancements.

AL Code § 45-37-123.151 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) Specifically, but not in limitation of the pension board’s authority to amend the plan as set forth in Section 45-37-123.150, the pension board may amend the plan to increase or enhance member benefits, provided that such benefit increases or enhancements have been:

(1) Approved by resolution of the commission;

(2) Certified in a written opinion by a competent actuary that the trust fund and the anticipated receipts and liabilities are sufficient to pay for the increase or enhancement;

(3) Set forth in written rules and regulations adopted by the pension board; and

(4) Considered at a public meeting.

(b) In no event shall a member be entitled to any benefit increase or enhancement, including any cost-of-living increase.

Previous Section
Section 45-37-123.150 - Amendments.
No more sections