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.
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