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AL SB92
Bill
AI Summary
- Extends Act 2022-229 provisions to employers participating in the Employees' Retirement System under Alabama Code Sections 36-27-6, 36-27-7, and 36-27-7.1
- Allows participating employers to elect coverage by official resolution on or before October 31, 2023
- Requires lump-sum payments under Act 2022-229 to be paid to eligible recipients receiving benefits as of April 1, 2023, by December 2023
- Makes each employer that elects coverage responsible for bearing the cost of lump-sum payments to its retirees
- Becomes effective immediately upon passage and approval by the Governor
Legislative Description
Relating to retirement; to extend the provisions of Act 2022-229 to allow local units participating in the Employees' Retirement System additional time to elect to come under the provisions of the act.
Last Action
Enacted
4/26/2023
Committee Referrals
Ways and Means General Fund4/6/2023
County and Municipal Government3/21/2023
Full Bill Text
No bill text available