(a) This section shall apply to any municipality in the State of Alabama having a population, according to the latest federal census, between 175,000 and 225,000 persons.
(b) Any elected official of any such municipality who previously has served, or who is presently serving, or who in the future may serve as such elected official, and serves for a period of not less than 12 years, shall be paid a retirement benefit equal to 30 percent of the average compensation he or she received as a salary during the five highest paid years which he or she served as such elected official, which benefit shall be payable monthly.
(c) Any elected official of any such municipality who previously has served, or who is presently serving, or who in the future may serve as such elected official, and serves for a period of not less than 16 years, shall be paid a retirement benefit equal to 40 percent of the average compensation he or she received as a salary during the five highest paid years while he or she served as such elected official, which benefit shall be payable monthly.
(d) Any elected official of any such municipality who previously has served, or who is presently serving, or who in the future may serve as such elected official, and serves for a period of not less than 20 years, shall be paid a retirement benefit equal to 50 percent of the average compensation he or she received as a salary during the five highest paid years while he or she served as such elected official, which benefit shall be payable monthly provided that the amount of such retirement benefit shall not be less than 50 percent of the compensation of any such elected official on October 5, 1965.
(e)(1) The retirement benefits provided for by this section shall commence on the first day of the first month following the day the person entitled thereto attains his or her fifty-fifth birthday; provided, however, that such person is not at such time employed by or serving as a full-time elected official, of the State of Alabama, or any municipality or county therein, or by the United States Government.
(2) Should a retired elected official who is receiving retirement benefits under this section die, leaving a spouse, such spouse shall be entitled to receive a monthly benefit payment in an amount equal to the monthly retirement benefit which the deceased elected official was entitled to on the date of death, for the remainder of his or her life, or until he or she marries again; provided he or she establishes his or her eligibility therefor in the manner prescribed in subdivision (3).
(3) The spouse of a deceased elected official may establish his or her eligibility to receive the benefits provided in this section by submitted (i) proof of a bona fide marriage to the deceased, consummated not less than one year prior to transfer to the retirement status; (ii) proof that the claimant and the deceased were living together as man and wife on the date of the death of the decedent and had been so living for at least one year prior to the date of his or her death.
(f) Any person who is entitled to receive any of the benefits provided for in this section, who subsequent to such service as an elected official of the City of Mobile, served or serves as a full-time employee of the city in a position which is not covered by any civil service or merit system governing the city, and who is not during the term of such full-time employment covered by any state employees' retirement act, and who serves in such full-time position for a period of not less than four years shall be entitled to have such period of time served as a full-time employee added to the number of years he or she served as an elected official of the city. Upon becoming entitled to retirement benefits as provided by this section, he or she shall be paid a retirement benefit equal to that percentage of the average compensation he or she received as a salary during the five highest paid years which he or she served as such elected official, or as such full-time employee, as is provided by this section, which benefit shall be payable monthly.
(g) The retirement benefits provided by this section shall be paid from the general funds of the city.