HB481 Summary

• Allows Circuit Clerks and Registers to designate a beneficiary other than a spouse to receive benefits from the Clerks' and Registers' Supernumerary Fund upon death.

• Permits designated beneficiaries (when surviving spouse is not named) to receive 100 percent of contributions plus 75 percent of accrued interest from the fund.

• Allows Circuit Clerks upon becoming eligible for supernumerary status the option to receive a refund of contributions paid into the fund plus 75 percent of accrued interest.

• Requires the Employees' Retirement System of Alabama Secretary-Treasurer and Administrative Office of Courts to promulgate implementation procedures.

• Directs any remaining funds in the Supernumerary Fund after all liabilities are met to revert to the Administrative Office of Courts for the benefit of Court Specialists throughout the state.