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AL HB440
Bill
Status
Introduced
2/22/2018
Primary Sponsor
Kerry Rich
Click for details
AI Summary
- Provides a one-time lump-sum payment of $400 to eligible retirees of the Employees' Retirement System in fiscal year 2017-2018.
- Eligible recipients must have retired before May 1, 2018, and be receiving or entitled to receive monthly retirement benefits as of April 30, 2018.
- Excludes individuals whose Medicaid eligibility would be impaired by the lump-sum payment and those who apply for Medicaid after receiving the payment.
- Board of Control of the Employees' Retirement System determines the cost and notifies employers of required rate increases, with employers paying increases beginning October 1, 2019, from the same source as active member salaries.
- Lump-sum payments are to be distributed to all eligible recipients in June 2018.
Legislative Description
Employees' Retirement System, retirees, one-time lump-sum additional payment
Employees' Retirement System
Last Action
Ways and Means General Fund first Substitute Offered
3/8/2018
Committee Referrals
Ways and Means General Fund2/22/2018
Full Bill Text
No bill text available