AL SB16

Provides a one-time longevity bonus to retirees and beneficiaries of the Employees' Retirement System with a retirement date prior to March 1, 2022, calculated as $2 per month for each year of service or $300, whichever is greater.

Beneficiaries of deceased members or retirees receive a flat $300 bonus payment if receiving or entitled to receive monthly allowance on March 30, 2022.

Employers participating under certain code sections (36-27-6, 36-27-7, 36-27-7.1) must elect to come under this act by August 31, 2022, and bear the cost of bonuses for their retirees.

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

Bonuses paid in April 2022 for most eligible recipients and October 2022 for those with employers under the specified code sections.