Loading chat...
AL HB389
Bill
Status
3/10/2016
Primary Sponsor
Jim Patterson
Click for details
AI Summary
HB389 Summary
-
Redefines "Tier I Plan Member" to include any correctional officer, firefighter, law enforcement officer, or state policeman regardless of hire date (previously limited to those hired before January 1, 2013)
-
Redefines "Tier II Plan Member" to exclude correctional officers, firefighters, law enforcement officers, and state policemen (who are now automatically classified as Tier I)
-
Tier I members receive more generous retirement benefits including higher pension accrual rates (2.125%-2.875%) compared to Tier II members (1.65%-2.375%)
-
Maintains lower retirement age eligibility for these public safety personnel: age 52 for state policemen and age 56 for correctional officers, firefighters, and law enforcement officers with 10+ years of service
-
Effective on the first day of the third month following passage and approval
Legislative Description
Retirement System, law enforcement officers, correctional officer, firefighter, or state policeman, Tier I classification, Secs. 36-27-1, 36-27-16, 36-27-24 am'd.
Retirement Systems
Last Action
Read for the first time and referred to the House of Representatives committee on State Government
3/10/2016