Alabama § 45-49A-81.02 - Pension and Relief System.

§ 45-49A-81.02. Pension and Relief System.

(a) There shall be a pension and relief system which shall apply to and include all permanent employees of the City of Prichard, Alabama, and any permanent employee of the City of Prichard, who leaves the employment of the City of Prichard to become an elected official of the City of Prichard may still participate in the Prichard Pension Plan provided the official pays the total contribution, both that required of the City of Prichard and that required of the participant.

(b) Any former city official who was employed by the City of Prichard and left such employ to serve as an elected official of the City of Prichard and returned to the employ of the City of Prichard after serving his or her term may count those years served toward retirement provided they pay back any money they drew from the funds at time of leaving plus interest of four percent per annum plus his or her full contribution for those years based on his or her previous salary as an elected official and the interest thereon, within 30 days after May 30, 1984, which such pension and relief system shall be administered through a fund to be known as the Municipal Employee Pension and Relief Fund, hereinafter referred to as the fund, as provided for herein, which fund shall be derived and raised, received, obtained, and created, although not exclusively, in the following manner:

(1) By transfer into the fund hereby created all agency funds created pursuant to Acts 1956, No. 107, adopted February 14, 1956, as amended.

(2) By payment into the fund by the proper authorities of the City of Prichard, Alabama, a monthly amount equal to 16 percent of the compensation paid to every employee of the City of Prichard, covered by this part. Of such 16 percent, 10 and one-half percent shall be paid into such fund by the City of Prichard, Alabama, and five and one-half percent shall be held and deducted by the proper authorities of the City of Prichard from the salary or other compensation of each employee covered.