Alabama Code 36-21-76. Rights, annuities and benefits subject to change by Legislature; no vested rights in annuities, benefits, etc.; when determination of years of qualified service conclusive; reinstatement of benefits of certain members; adjustme…
Terms Used In Alabama Code 36-21-76
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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
- Fraud: Intentional deception resulting in injury to another.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
All rights, annuities and benefits provided herein shall be subject to future change by the Legislature of the state, and subject to future changes or revisions as provided in this article, and no member or beneficiary provided for in this article or hereafter existing shall be deemed to have any vested right in the fund or to any annuity or benefit provided in this article. However, when the board has once approved a member’s application for a retirement annuity or benefit and such member has actually received such benefits pursuant to the board’s determination for a period of two years, then such determination as to such member’s years of qualified service shall be conclusive, and the board shall not thereafter arrive at a different determination as to such member’s qualified service prior to such original determination as to such member’s qualified service prior to such original determination except in the case of fraud or misrepresentation of any fact in the applicant’s original application or application for retirement.
Any member who is receiving retirement benefits and returns to active law enforcement shall be covered under the provisions of Section 36-21-70.