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AL HB249
Bill
Status
3/27/2018
Primary Sponsor
Steve McMillan
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AI Summary
HB249 Summary
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Extends Act 2017-367 provisions to employers participating in the Employees' Retirement System under Alabama Code Sections 36-27-6, 36-27-7, and 36-27-7.1.
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Allows participating employers to elect to come under Act 2017-367 by official resolution on or before October 31, 2018.
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Requires lump-sum payments under Act 2017-367 to be paid to all eligible recipients receiving benefits as of April 1, 2018, with payments distributed by the Employees' Retirement System in December 2018.
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Each employer electing to participate must bear the full cost of lump-sum payments to its own retirees.
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Takes effect immediately upon passage and approval by the Governor.
Legislative Description
Employees' Retirement System, local units, one-time payment, provisions of Act 2017-367 extended to allow local participating units add'l time to elect to come under act
Employees' Retirement System
Last Action
Forwarded to Governor on March 27, 2018 at 6:09 p.m. on March 27, 2018.
3/27/2018