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AL HB44
Bill
Status
2/4/2025
Primary Sponsor
Jim Hill
Click for details
AI Summary
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St. Clair County DAY Program, Incorporated's governing body may elect by resolution to have its executive officers and full-time employees participate in Alabama's Teachers' Retirement System.
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Participating employees and officers become eligible for all Teachers' Retirement System benefits, with the St. Clair County DAY Program paying employer contributions as a percentage of employee salaries monthly per Section 16-25-21, Code of Alabama 1975.
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The program's governing body may credit prior service rendered before the effective date of joining the system, limited to employees and officers actively serving on that date.
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St. Clair County DAY Program must pay all costs determined by the Teachers' Retirement System's actuary to fund the prior service credits, with no cost to the State of Alabama.
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Benefits payable to beneficiaries are limited to amounts paid in by beneficiary and employer plus interest earned and investment gains, less administration costs, with no state liability.
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The act becomes effective October 1, 2025.
Legislative Description
Teachers' Retirement System, reopened for service rendered to St. Clair County, DAY Program, Inc.
Retirement
Last Action
Read for the Second Time and placed on the Calendar
4/3/2025