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AL HB59
Bill
Status
3/1/2011
Primary Sponsor
Gregory Canfield
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AI Summary
HB59 Summary
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Repeals the Deferred Retirement Option Plan (DROP) under Article 9 of Chapter 25 of Title 16 and Article 9 of Chapter 27 of Title 36, Code of Alabama 1975.
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Protects rights and duties of participants who elected to participate in DROP prior to the repeal, ensuring their benefits are not affected.
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Contains a severability clause providing that if any portion of the act is found invalid or unconstitutional, the remainder remains in effect.
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Repeals all conflicting laws.
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Becomes effective October 1, 2011, upon passage and approval by the Governor or upon otherwise becoming law.
Legislative Description
Retirement under Employees' Retirement System and Teachers' Retirement System, Deferred Retirement Option Plan (DROP) repealed, participants electing DROP prior to effective date not affected, Secs. 16-25-150, 16-25-151, 16-25-152, 16-25-153, 16-25-154, 36-27-170, 36-27-171, 36-27-172, 36-27-173, 36-27-174, 36-27-175 repealed
Retirement
Last Action
Mask motion to Indefinitely Postpone adopted Voice Vote
3/24/2011