AL SB180

Provides a three percent cost-of-living increase for Teachers' Retirement System retirees whose retirement effective date was prior to October 1, 2018, beginning in fiscal year 2020.

Extends the three percent increase to beneficiaries of deceased retirees currently receiving survivor benefits if the deceased retiree's retirement effective date was prior to October 1, 2018.

Excludes individuals from receiving the increase if their Medicaid eligibility would be impaired by the cost-of-living adjustment, either currently or upon future application.

Requires the Board of Control of the Teachers' Retirement System to determine annually the required funding amount and notify employers of the per centum rates needed to pay for the increase.

Directs employers to fund the increase from the same sources as regular member contributions, distributed proportionally based on active member salaries, with partial offsetting costs included in the 2020 Education Trust Fund budget.