HB477 Summary

• Amends Act 99-568 establishing a retirement system for Tuscaloosa police officers and firefighters to phase in increased member and city contributions through October 1, 2022.

• Increases Police and Fire Pension Board membership from 11 to 13 members by removing fire and police chiefs, adding the chief financial officer, a mayor-appointee, and one additional active officer and firefighter from each department; specifies chairperson must be selected from elected members only.

• Extends board member terms of office for active and retired police officers and firefighters from three to four years and increases quorum requirement for conducting business from seven to nine members.

• Establishes a temporary advisory task force with seven regular members and three ex officio members to review the fund's economic health, explore administrative structures, and provide recommendations for achieving a fully funded pension plan by June 1, 2021.

• Becomes effective on the first day of the third month following passage and approval.