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AL HB546

Bill

Official Source

Status

Introduced

4/20/2017

Primary Sponsor

Mike Jones

Click for details

Origin

House of Representatives

Regular Session 2017

AI Summary

  • Amends Section 36-27-51.1, Code of Alabama 1975, regarding the Employees' Retirement System of Alabama
  • Removes the requirement that a non-participating employer be funded by both a city and a county for members to purchase prior service credit
  • Allows active and contributing members of city retirement systems participating in the Employees' Retirement System to purchase up to 8 years of prior service credit by paying the full actuarial cost as determined by the system's actuary
  • Members cannot receive credit for service already credited in the Employees' Retirement System or any other retirement plan, except Social Security
  • Becomes effective on the first day of the third month following passage and gubernatorial approval

Legislative Description

Employees' Retirement System, purchase of prior service credit, requirements revised, Sec. 36-27-51.1 am'd.

Employees' Retirement System

Last Action

Indefinitely Postponed

5/17/2017

Committee Referrals

State Government4/20/2017

Full Bill Text

No bill text available