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AL HB329
Bill
Status
2/24/2022
Primary Sponsor
Joe Lovvorn
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AI Summary
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Removes the time limit for Tier I plan members (firefighters, law enforcement officers, and correctional officers) to purchase hazardous duty time credit for prior eligible service under the Employees' Retirement System or Teachers' Retirement System.
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Previously, members covered under Section 36-27-6 could only purchase prior service credit within one year of enrollment or August 1, 2004; this bill eliminates that deadline.
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Maintains the requirement that members pay one percent of their current or previous year's annual earnable compensation (whichever is higher) for each year of claimed credit.
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Allows members to purchase credit in increments of five years, or in full if total service is less than five years, with certification from each employing agency required.
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Does not apply to Tier II plan members and becomes effective on the first day of the third month following passage and gubernatorial approval.
Legislative Description
Retirement System, firefighters, law enforcement officers, and correctional officers, hazardous duty time, removing the time limit for purchasing for prior eligible service, Sec. 36-27-59 am'd.
Retirement Systems
Last Action
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
3/1/2022