Loading chat...
AL SB236
Bill
Status
Introduced
2/16/2016
Primary Sponsor
Rodger Smitherman
Click for details
AI Summary
- Provides a two percent cost-of-living adjustment for Teachers' Retirement System retirees effective October 1, 2016, for those who retired before October 1, 2015
- Extends the adjustment to certain beneficiaries of deceased members and retirees receiving survivor benefits if the member's retirement or death occurred before October 1, 2015
- Excludes individuals whose Medicaid eligibility would be impaired by the increase, both current recipients and future applicants
- Appropriates $20,000,000 from the Education Trust Fund for fiscal year 2016-2017 to offset costs, allocated by the Director of Finance to state agencies and universities within the Teachers' Retirement System
- Requires the Teachers' Retirement System Board of Control to determine annual costs for fiscal year 2017 and thereafter, with employers sharing costs proportionally based on active member salaries
Legislative Description
Teachers' Retirement System, cost-of-living increase authorized
Teachers' Retirement System
Last Action
Read for the first time and referred to the Senate committee on Finance and Taxation Education
2/16/2016
Committee Referrals
Finance and Taxation Education2/16/2016
Full Bill Text
No bill text available