AL HB36

Increases the annual compensation limit for retirees receiving Employees' Retirement System (ERS) or Teachers' Retirement System (TRS) allowances from $30,000 to $40,000 starting in calendar year 2023.

Beginning in calendar year 2024 and thereafter, the annual earning limit shall increase by the same percentage as the Consumer Price Index for all urban consumers, with increases rounded to the next lowest multiple of $1,000.

Allows retired ERS or TRS members to perform duties in any capacity, including as independent contractors, with participating employers without suspension of retirement benefits, provided they are not employed full-time and remain within the compensation limits.

Applies the same compensation limits to retired elected officials serving in state, county, or municipal offices without affecting their retirement benefits.

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