SB193 Summary

• Allows retired members of the Alabama Legislature to work and earn compensation from employers participating in the Teachers' Retirement System or Employees' Retirement System without losing retirement benefits.

• Permits work in any capacity, including as an independent contractor, provided the member is not employed on a permanent full-time basis.

• Sets annual compensation limit at $30,000 for calendar year 2016, with subsequent yearly increases tied to the Consumer Price Index for urban consumers, rounded to the next lowest $1,000 multiple.

• Requires retirees to provide written notice to the Employees' Retirement System (or Teachers' Retirement System) and employing authority within 30 days if they become employed full-time or exceed the annual earning limit.

• Becomes effective on the first day of the third month following passage and approval by the Governor.