For the purposes of this chapter, the following terms have the following meanings:
- (1) BENEFICIARY. Any individual who receives a pension, annuity, retirement allowance, or other benefit provided by Chapter 27.
- (2) BOARD OF CONTROL. The Board of Control of the State Employees’ Retirement System established pursuant to Section 36-27-2.
- (3) FISCAL YEAR. The fiscal year of the state as may from time to time be provided by law.
- (4) PERIODIC BONUS CHECKS. Periodic bonus checks granted by the State Employee Retirees’ Trust Fund to retirees and beneficiaries of the State Employees’ Retirement System.
- (5) PERMITTED INVESTMENTS. All assets and properties in which the Retirement Systems of Alabama may invest as permitted by law.
- (6) RETIRED EMPLOYEE. A former employee who is a participant in the State Employees’ Retirement System pursuant to Chapter 27 and who satisfies the definitions of retirement and employee as provided in Section 36-27-1.
- (7) TRUSTEE. A trustee serving on the Board of Control.
- (8) TRUST FUND. The State Employee Retirees’ Trust Fund created by this chapter.
(Act 2022-349, §3.)