The board shall have the following powers in carrying out its responsibilities:
(1) To collect all moneys provided in this article to be collected by it.
(2) To provide for and maintain all necessary administrative facilities and personnel.
(3) To provide for payment of all administrative salaries, fees, and expenses.
(4) To cause its moneys to be invested in a manner consistent with the ERS investment policies and practices.
(5) To pass upon all applications for annuities and benefits provided for in this article.
(6) To adopt such rules as may be necessary or desirable to expedite the administration of the affairs of the board pursuant to the Alabama Administrative Procedure Act.
(7) To provide upon request descriptive literature regarding the fund.
(8) To pay all benefits and annuities that may be determined to be due under this article and under the rules of the board.
(9) To make refunds and repayments to which members may be entitled under this article.
(10) To employ such agents, attorneys, actuaries, and other specialized personnel as shall be necessary or desirable to enable the board to carry on its functions in a proper and actuarially sound manner.
(11) To receive by gift, grant, devise, or bequest any moneys or properties of any nature or description.
(12) To carry out any powers expressly granted to the board elsewhere in this article.
(13) All other powers necessary for the proper administration of this article.
Last modified: May 3, 2021