Alabama § 45-37A-51.243 - Supplemental Benefit.

§ 45-37A-51.243. Supplemental Benefit.

(a) In addition to the benefits described herein for normal retirement, ordinary disability, and extraordinary disability, every participant retired from city service or receiving a disability benefit immediately following having been in the city service, which participant did not have active city service after July 1, 1989, did not retire after July 1, 1990, or did not otherwise become eligible for a benefit calculated at 2.25 percent, per year after July 1, 1990, shall have received after three years of retirement or disability under this system an increase in monthly benefit in the amount of one hundred fifty dollars ($150). Present and future surviving spouses or the survivors of the retirees, who are not entitled to the 2.25 percent of the final average salary, shall have received a monthly benefit increase in the amount of the percent of the one hundred fifty dollars ($150) the surviving spouse or the survivor would normally be entitled to receive pursuant to Sections 10 to 13, inclusive, of Article VI of Act 929, 1951 Regular Session (Acts 1951, p. 1579). This section shall be effective retroactively to January 1, 1994, with payment to have begun as soon as administratively possible, with retroactive payment and no interest. No participant receiving or entitled to a benefit calculated at more than two percent per year of service shall have been eligible for the one hundred fifty dollars ($150) per month payment. No amounts shall be paid if at any time the contributions to the fund do not cover the normal cost of the fund. This provision shall not apply to retirees or disability recipients from the board of health.

(b) Effective July 1, 2001, in addition to the benefits described herein for normal retirement, ordinary disability, and extraordinary disability, every participant retired from city service or receiving a disability benefit immediately following having been in the city service, or who did not otherwise become eligible for a benefit calculated at 2.5 percent per year after July 1, 2001, any retiree of the system, excluding those retirees and survivors of the board of health, who having been a permanent classified city employee or a six months permanent unclassified employee who was retired and receiving a retirement benefit, shall have received an increase in the amount of two hundred dollars ($200) per month; and, any survivor of such retiree or participant, excluding those retirees and survivors of the board of health, shall have received an increased monthly benefit based upon the applicable percentage of benefit to which the survivor was otherwise entitled determined as of the date of death of such retiree or participant.

(c) No benefit shall be granted under this section until an actuarial determination has been made that there are sufficient funds within the system to fund the benefits. At any time the benefit increase may be discontinued or reduced in the event participant and city contributions are not sufficient to pay all costs of the system. These increases may be changed or adjusted in the event the board of managers and the city council approve a revised employee pension benefit program. The increase herein provided may be changed if necessary or desirable to meet current or future state or federal law or regulations.