Section 36-27-73 Deduction for administrative costs. - Alabama Statutes

Section 36-27-73

Deduction for administrative costs.

The Employees' Retirement System may deduct in 12 equal installments from the retirement allowance payable to a retired member any additional contributions necessary to pay the administrative costs incurred in granting the credit hereunder in the event its Board of Control and consulting actuaries thereto determine that the amounts contributed by the member under the provisions hereof are insufficient to pay such administrative costs.

(Acts 1990, No. 90-548, p. 853, §4.)