Ala. Code § 36-27E-4: Creation, Management, and Control of State Employee Retirees’ Trust Fund.

(a) There is created the State Employee Retirees’ Trust Fund evidenced by a written trust instrument, the terms and conditions of which shall be determined by the Board of Control creating the trust fund.

(b) The trust shall be managed and controlled by its trustees. The trustees shall serve without compensation for their service as trustees, but may be reimbursed from the trust for all reasonable and necessary expenses that they incur in connection with their service as trustees.