It is the intent of the Legislature that the state and the boards establish and the trustees operate the trusts in compliance with the Internal Revenue Code of the United States of America in a manner which would allow the trusts to maximize investment earnings while minimizing the costs to the state and its employees and other citizens of satisfying the health care post-employment benefits obligation. It is also the intent of the Legislature that the trusts be operated in a manner that satisfies the definition of other post-employment benefits trusts under generally accepted governmental accounting principles. The trusts shall not be subject to any provision of a law of the state (or any subdivision thereof) which conflicts with that legislative intent or would prevent or unreasonably hinder the accomplishment of the purposes of this chapter.
Structure Code of Alabama
Title 36 - Public Officers and Employees.
Chapter 36 - Alabama Retiree Health Care Funding Act of 2007,
Section 36-36-1 - Legislative Findings.
Section 36-36-2 - Short Title.
Section 36-36-3 - Definitions.
Section 36-36-4 - Trust Instrument; Trustees.
Section 36-36-5 - Management and Control of Trust; Powers of Trustees; Payment of Expenses.
Section 36-36-7 - Legislative Intent.
Section 36-36-8 - Liability of Trustees.
Section 36-36-9 - Applicability of Chapter.
Section 36-36-10 - Permanent Legislative Oversight Committee.