HB407 Summary

• Counties become responsible for paying the employer contribution portion of probate judges' retirement benefits beginning October 1, 2015, with percentage rates determined annually by the Judicial Retirement Fund actuary.

• Probate judges contribute 8.5% of their salary to the Judicial Retirement Fund as of October 1, 2012, paid monthly through deductions from state-derived salary.

• Judges with at least 120 months of creditable service may purchase up to 12 additional months of retirement credit by paying a lump sum equal to combined monthly contributions of both judge and state, with payment due 30 days before retirement.

• Bill requires a two-thirds legislative vote to become effective due to increased local expenditure requirements under Alabama Constitutional Amendment 621, unless the Legislature appropriates funds or provides alternative revenue sources.

• Act becomes effective on the first day of the third month following passage and gubernatorial approval.