HB155 Summary

• Amends retirement benefit options for surviving spouses of retirement-eligible members who die in active service across four Alabama retirement systems: District Attorneys' Plan, Judges' and Clerks' Plan, Teachers' Retirement System, and Employees' Retirement System.

• Changes surviving spouse benefit from Option 3 (one-half of reduced allowance) to Option 2 (full reduced retirement allowance continued for spouse's lifetime) when spouse is designated as sole beneficiary.

• Provides alternative lump-sum payment option: surviving spouse may receive accumulated member contributions plus up to $5,000, or accumulated contributions plus any applicable death benefit, instead of ongoing allowance payments.

• Applies retroactively to January 1, 2021, affecting all members who died in active service on or after that date.

• Makes conforming technical changes to standardize language across all four retirement system provisions regarding beneficiary options and death benefits.