AL SB364

Active and contributing members of the Teachers' Retirement System may purchase up to two years of service credit for time served as a postdoctoral research fellow at any public college or university in Alabama.

Members must receive certification of prior service in accordance with Teachers' Retirement System administrative rules and procedures, and receive credit only upon remitting required contributions to the system.

Members cannot receive credit for service already credited in the Teachers' Retirement System or any other public retirement plan, except for federal Social Security program service.

Eligible members must pay the secretary-treasurer of the system the full cost for each year of claimed service as determined by the system's actuary, with payment due within one year from October 1, 2021.

The act becomes effective on the first day of the third month following passage and approval by the Governor.