As used in this chapter, the following terms have the following meanings:
(1) BOARD. The Board of Control of the Public Employees Defined Contribution Savings Fund.
(2) ELIGIBLE EMPLOYER. An employer or other entity who compensates a participant for the public service.
(3) FUND. The Public Employees' Defined Contribution Savings Fund.
(4) PARTICIPANT. A person who elects to participate in the fund who makes voluntary employee contributions into a 457 deferred compensation or a 403(b) tax sheltered annuity plan, who is not a public school employee and who meets any of the following requirements:
a. Is a member of the Teachers' Retirement System.
b. Is a member of the Employees' Retirement System.
c. Is a member of the Judicial Retirement Fund.
d. Is an employee of an employer eligible to participate in the Employees' Retirement System pursuant to Section 36-27-6 which elects to participate.
e. Is a public official or public employee of the State of Alabama or any political subdivision thereof. As used in this chapter, "public official" does not include a person holding an elected state or local office.
Last modified: May 3, 2021