Code of Alabama - Title 36: Public Officers and Employees - Chapter 27A - Public Employees Individual Retirement Account Fund

• Section 36-27A-1 Legislative intent
  It is the intent of the Legislature to make available to the public employees and officials of the State of Alabama, or any political subdivision...
• Section 36-27A-2 Creation; administered by board of control, etc.; composition of board
  There is hereby created a fund or funds which shall be known collectively as the Public Employees' Individual Retirement Account Fund (PEIRAF). The PEIRAF shall...
• Section 36-27A-3 Authority of board to promulgate rules and regulations
  The board of control is hereby empowered and authorized to promulgate such rules and regulations as may be necessary to implement the provisions of this...
• Section 36-27A-4 Investments
  All investments shall be made pursuant to the same authority and restrictions that govern the investment of funds of the retirement systems of Alabama.
• Section 36-27A-5 Eligibility
  The PEIRAF shall be available to all public employees in the State of Alabama who are members of the Teachers' Retirement System, the Employees' Retirement...
• Section 36-27A-6 Contributions
  Contributions to the PEIRAF may be deducted from each participating employee's compensation or retirement allowance and transmitted to the PEIRAF in accordance with any limitations...
• Section 36-27A-7 Administrative cost
  The administrative cost for the operation of the PEIRAF shall be provided from the expenses funds of the Employees' Retirement System and the Teachers' Retirement...

Last modified: May 3, 2021