SB303 Summary

• Increases the Board of Control of the Teachers' Retirement System of Alabama from 14 to 15 total trustees.

• Removes the Executive Secretary of the Alabama Education Association as an ex officio member and eliminates one educational support personnel position.

• Adds two new positions for members from public four-year institutions of higher education, with terms beginning July 1, 2013 and July 1, 2015.

• Changes vacancy appointment authority from a simple majority vote of the Board of Control to appointment by the Governor.

• Specifies that all 12 elected members must be elected by members from the same category through statewide elections conducted by a third party entity independent of the retirement system.