The Legislature finds that it is advisable for the state to create an irrevocable trust whereby the state may begin funding periodic bonus checks for Alabama retired education employees. Therefore, the Teachers’ Retirement System Board of Control shall create an irrevocable trust named the Education Retirees’ Trust Fund in accordance with this chapter.
Ala. Code § 16-25D-2
Legislative Findings.
Known as the Education Retirees’ Trust Fund Funding Act
The act spans §§ 16-25D-1 to 16-25D-9 (10 sections).
(Act 2021-464, §2.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.