Alabama Code 12-17-147. Return of contributions upon termination of service
Terms Used In Alabama Code 12-17-147
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- circuit: means judicial circuit. See Alabama Code 1-1-1
Should the service of the circuit clerk or register be terminated for any reason other than death prior to the time he is entitled to receive supernumerary benefits under this division, such circuit clerk or register shall have the right to elect to withdraw from the supernumerary fund and to have refunded his contributions plus accrued interest thereon under the same rules, regulations and rates applicable to similar refunds of contributions under the Employees’ Retirement System of Alabama. If service is terminated by death, the refund on contributions and accrued interest is payable to the clerk’s or register’s designated beneficiary.
If a circuit clerk or register who has assumed supernumerary status dies prior to receiving supernumerary benefits equal to his total contributions plus accrued interest thereon which was credited to the member’s individual account at the time of assuming supernumerary status, the remaining portion of his contributions and accrued interest is payable to the clerk’s or register’s beneficiary.
Any prior service credit obtained by a clerk or register pursuant to Section 12-17-144, shall be included in computing the total number of years of the clerk’s or register’s participation in the Clerks’ and Registers’ Supernumerary Fund.