SB217 Summary

• Revises the Board of Control of the Employees' Retirement System of Alabama from 13 to 15 members by adding two new appointed positions from employers participating under Section 36-27-6.

• Changes Governor's title from "chairman" to "chair" and increases voting requirement from seven to eight votes needed for board decisions.

• Reduces gubernatorial appointments from three to one member (before effective date) and one additional member (commencing effective date), both requiring 10 years of Merit System service.

• Reduces elected members from two to one for State Employees' Retirement System members and employers under Section 36-27-6, with remaining positions filled by legislative appointments (President Pro Tempore of Senate and Speaker of House).

• Adds qualification requirements for candidates seeking board election, including demonstration of expertise in finance, accounting, economics, business administration, or related fields beneficial to the system.