AL SB229

Provides a one-time funded longevity bonus payment in fiscal year 2021-2022 to retirees and beneficiaries of the Employees' Retirement System who retired before June 1, 2021 and are receiving benefits on November 30, 2021.

Calculates bonus for retirees as $2 per month for each year of service attained or $300, whichever is greater; beneficiaries of deceased members receive a flat $300 payment.

Employers may elect to participate by official resolution on or before October 31, 2021, and must bear the full cost of bonuses for their retirees.

Excludes persons whose Medicaid eligibility would be impaired by the bonus payment.

Bonuses are to be paid by the Employees' Retirement System to all eligible recipients in December 2021.