HB326 Summary

• Allows Tier II members of the Employees' Retirement System or Teachers' Retirement System employed as correctional officers, firefighters, or law enforcement officers to retire with full benefits upon completion of 25 years of service, rather than requiring age 56 with 10 years of service.

• Requires Tier II members employed as correctional officers, firefighters, or law enforcement officers to contribute 8.25% of their earnable compensation to the retirement system, effective October 1, 2017.

• Amends Code of Alabama sections 16-25-14, 16-25-21, 36-27-16, and 36-27-24 governing retirement benefits for these occupational classifications.

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