Alabama Administrative Code
Title 800 - RETIREMENT SYSTEMS OF ALABAMA
Chapter 800-1-8 - ALABAMA TEACHERS' GROUP TERM LIFE INSURANCE PLAN
Section 800-1-8-.03 - Benefits

Contingent upon availability of funds, upon the death of an insured who is a full-time member of the Teachers' Retirement System, a benefit in the amount of $15,000, and upon the death of an insured who is a part-time member of the Teachers' Retirement System, a benefit which bears the same proportion to $15,000 as his employment time bears to full time, shall be paid to the beneficiary designated by the insured to receive such benefit or, in the absence of such designation, to the beneficiary designated by the insured to receive the return of contributions and death benefit from the Teachers' Retirement System.

Author: William T. Stephens, General Counsel, RSA.

Statutory Authority: Act No. 87-714.