Ala. Code § 12-18-152 (1975) - Scope and application of plan; contributions

Cite as:Ala. Code § 12-18-152 (1975)
Currency:Current through the 2020 Regular Session Acts 1 through 206

(a) ...

(b) On account of each member there shall be paid monthly by the employer an amount equal to a certain percentage of the annual salary of each member to be the employer's contribution. The percentage rate of such contribution shall be fixed for each fiscal year on the basis of the liabilities as shown by the last annual actuarial valuation, and such percentage rate as established by such valuation shall take effect the following October 1 and continue in effect for the fiscal year.

To continue reading