Code of Alabama
Article 1 - General Provisions.
Section 16-25-33 - Term Life Insurance Fund; Payment of Benefits; Funding.

(a) A separate fund to be known as the Term Life Insurance Fund is hereby established within the Teachers' Retirement System of Alabama. Such fund shall consist of all monies paid by the employers for term life insurance, and of the investment earnings of such monies and all such funds shall be used only for the payment of benefits provided by this section.
(b) Commencing October 1, 1995, upon proof satisfactory to the board of the death of a contributing member who is a full-time employee there shall be paid in the form of a term life insurance benefit the sum of $15,000. On account of the death of a part-time employee, the benefit provided herein shall be prorated based on the employee's percent of full-time employment. This benefit shall be paid to the designated beneficiary on file with the Teachers' Retirement System. For purposes of this section, a person shall be deemed a contributing member if (1) he or she is in active pay status at the time of death or (2) he or she dies within 90 days of being in active pay status.
(c) The Board of Control of the Teachers' Retirement System shall determine annually the amount to pay the cost of the benefits provided in this section as a percentage rate of earnable compensation of members required to be paid to the Teachers' Retirement System. The employers' payment on account of the benefits provided in this section shall be paid in the same manner and from the same source of funds as is provided in Section 16-25-21, it being the intent of the Legislature that the cost of providing the benefits provided for in this section shall be distributed from all funds in proportion to the salaries paid therefrom for active members.

<< Previous
Next >>

Structure Code of Alabama

Code of Alabama

Title 16 - Education.

Chapter 25 - Teachers' Retirement System.

Article 1 - General Provisions.

Section 16-25-1 - Definitions.

Section 16-25-2 - Name and Date of Establishment; Powers, Duties, etc., of Boards of Control; Immunity of Officers, Employees, Etc.

Section 16-25-3 - Membership; Membership Credit for Service in Armed Forces of United States; Deferred Benefits.

Section 16-25-3.1 - Purchase of Credit for Service by Members Age 61 or Older at Time of Employment.

Section 16-25-4 - Transfer of Membership From the Employees' Retirement System of Alabama Generally.

Section 16-25-5 - Transfer of Membership in Employees' Retirement System of Alabama, etc., of Janitors, Maids, Cafeteria Workers and Other Full-Time Employees in Public Education.

Section 16-25-6 - Employees of Agricultural Experiment Station of Auburn University.

Section 16-25-7 - Certain Persons Employed by Alabama High School Athletic Association.

Section 16-25-8 - School Lunchroom Managers and Assistants.

Section 16-25-9 - Certain School Bus Drivers, Mechanics and Maintenance Workers - Generally.

Section 16-25-10 - Certain School Bus Drivers, Mechanics and Maintenance Workers - Persons Previously Under Employees' Retirement System of Alabama.

Section 16-25-10.1 - Executive Officers and Employees of Alabama Association of School Boards.

Section 16-25-10.2 - Executive Officers and Employees of Alabama Council for School Administration and Supervision.

Section 16-25-10.3 - Executive Officers and Employees of Alabama Vocational Association.

Section 16-25-10.4 - Executive Officers and Employees of Alabama Congress of Parents and Teachers; Contributions; Creditable Service.

Section 16-25-10.5 - Executive Officers and Employees of Alabama Opportunities Industrialization Center; Contributions; Creditable Service.

Section 16-25-10.6 - Elected Superintendent of Education; Cost of Coverage; Purchase of Prior Service Credit.

Section 16-25-10.7 - Officers and Employees of Community Action Agencies; Contributions; Creditable Service.

Section 16-25-10.8 - Officers and Employees of Developing Alabama Youth Foundation; Contributions; Creditable Service.

Section 16-25-10.9 - Officers and Employees of Tennessee Valley Rehabilitation Center, inc.; Contributions; Creditable Service.

Section 16-25-10.10 - Officers and Employees of the American Federation of Teachers in Alabama; Contributions; Creditable Service.

Section 16-25-10.11 - Officers and Employees of School Superintendents of Alabama.

Section 16-25-10.12 - Officers and Employees of Alabama Higher Education Partnership, inc.; Contributions; Creditable Service.

Section 16-25-11 - Creditable Service.

Section 16-25-11.1 - Conversion of Unused Sick Leave Into Creditable Service in Retirement System.

Section 16-25-11.2 - Purchase of Credit for Legislative Service; Option to Be Exercised and Paid for by October 1, 1988.

Section 16-25-11.3 - Purchase of Credit by Employees of Junior Colleges and Technical Colleges for Leave of Absence.

Section 16-25-11.4 - Purchase of Credit for Prior Service Rendered as Full-Time Employee in Office of Clerk of Circuit Court or With Alabama State Employees Association.

Section 16-25-11.5 - Purchase of Credit for Employment in Support Personnel Position.

Section 16-25-11.6 - Purchase of Credit for Employment With School Operated by Department of Defense.

Section 16-25-11.7 - Purchase of Credit by Certain Members Employed as Teachers in State Public Schools Regardless of Manner in Which Salary Was Paid or Source Thereof.

Section 16-25-11.8 - Purchase of Credit for Time on Leave From Service Without Pay Due to Adoption Requirements.

Section 16-25-11.9 - Purchase of Credit for Employment as Court Reporters, School Support Personnel, or Local Mental Health Authority Workers.

Section 16-25-11.10 - Purchase of Credit for Prior Service Rendered to Employer Who May Join System Pursuant to Section 16-25-10.7 but Has Not Elected to Participate.

Section 16-25-11.11 - Purchase of Credit for Prior Service With Alabama State Council on the Arts.

Section 16-25-11.12 - Purchase of Service Credit for Time on Maternity Leave.

Section 16-25-11.13 - Purchase of Credit for Prior Service With the Cooperative Extension Service at Auburn University.

Section 16-25-11.14 - Purchase of Credit for Service Rendered to Authorized Employer.

Section 16-25-11.15 - Purchase of Credit for Prior Service With Eligible Employer Under Employees' Retirement System.

Section 16-25-11.16 - Purchase of Credit for Prior Service to Southeastern Educational Laboratory Program.

Section 16-25-11.17 - Purchase of Credit for Prior Service With Department of Industrial Relations.

Section 16-25-11.18 - Purchase of Credit for Prior Service With United States Civil Service.

Section 16-25-11.19 - Purchase of Credit for Prior Service With Federal Bureau of Mines.

Section 16-25-11.20 - Purchase of Credit for Time on Medical Leave or Full-Time Employment With Legislature, Etc.

Section 16-25-11.21 - Purchase of Credit for Prior Service to Certain Institutions of Higher Education.

Section 16-25-12 - Prior Service Credit for Military Service During World War I.

Section 16-25-13 - Credit for Service as Elected Official of State or Department Head; Payment of Employee's Contribution; Applicability of Provisions of Section.

Section 16-25-13.1 - Purchase of Credit for Service at Athens State University and State Junior Colleges; Procedure.

Section 16-25-13.2 - Purchase of Credit for Prior Service at Walker College.

Section 16-25-13.3 - Purchase of Credit for Prior Service in Particular Nursing Program at Walker College.

Section 16-25-14 - Retirement of Members; Benefits Generally.

Section 16-25-15 - Increase in Benefits - Ten Percent.

Section 16-25-16 - Increase in Benefits - Additional Five Percent.

Section 16-25-17 - Increase in Benefits - Cost-of- Living Increase for Certain Persons.

Section 16-25-18 - Redetermination of Allowances of Certain Retired Members.

Section 16-25-19 - Administration.

Section 16-25-20 - Management of Funds.

Section 16-25-21 - Method of Financing.

Section 16-25-22 - Purchase, Sale, etc., of Interests or Estates in Real Property; Establishment of Facilities and Procedures for Purchase of and Payment for Equipment, Etc.

Section 16-25-23 - Exemptions From Execution; Recovery Actions.

Section 16-25-24 - False Statements; Correction of Errors.

Section 16-25-25 - Limitation on Membership.

Section 16-25-26 - Performance of Duties by Retired Persons; Service in Elected Public Office.

Section 16-25-26.1 - Election by University President to Resume Participation.

Section 16-25-27 - Admissibility in Evidence of Photo-Reproduced Copies of Records or Documents Maintained by System.

Section 16-25-28 - Proposed Legislation Affecting System to Be Accompanied by Actuarial Estimate of Cost.

Section 16-25-29 - For Prior Service for Employment While Student at Public Institution of Higher Learning.

Section 16-25-30 - Students in Primary or Secondary School and Persons Whose Employment Is Incidental to Status as Student at Public Institution of Higher Learning Ineligible to Participate.

Section 16-25-31 - Effective Date of Benefits; Additional Costs of Benefits; Employer Agreeing to Come Under Provisions.

Section 16-25-32 - Admission of Employees and Members of State Employees' Association, the Alabama Retired State Employees' Association and the State Credit Union Into Teachers' Retirement System.

Section 16-25-33 - Term Life Insurance Fund; Payment of Benefits; Funding.

Section 16-25-34 - Compliance With Qualification Standards.