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AL HB439
Bill
Status
4/16/2019
Primary Sponsor
Timothy Wadsworth
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AI Summary
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Provides a one-time funded lump-sum payment of $800.00 to Teachers' Retirement System (TRS) retirees and beneficiaries who retired before October 1, 2019, and are receiving or entitled to receive monthly benefits on September 30, 2020.
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Extends the $800.00 lump-sum payment to beneficiaries of deceased TRS members or retirees if the member's death or retiree's retirement occurred before October 1, 2019, and the beneficiary is receiving or entitled to receive monthly allowance on September 30, 2020.
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Excludes individuals receiving Medicaid benefits whose eligibility would be impaired by the lump-sum payment, and those who apply for Medicaid after receiving the payment and whose eligibility is subsequently impaired.
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Requires the Teachers' Retirement System to distribute all lump-sum payments to eligible recipients in December 2019.
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Funding for the payments shall be included in the Education Trust Fund budget act for fiscal year 2020; becomes effective immediately upon passage and gubernatorial approval.
Legislative Description
Teachers' Retirement System, retirees and beneficiaries, receiving benefits on a certain date, one-time lump sum payment, payment in Dec. 2019, funding to be in Education Trust Fund budget for fiscal year commencing in Oct. 2019.
Teachers' Retirement System
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
4/16/2019