HB446 Alabama 2010 Session

Summary

Primary Sponsor

Randy WoodRepresentative

Republican

Co-Sponsors

Duwayne BridgesRichard J. Laird

Session

Regular Session 2010

Title

Alabama Firefighters Annuity and Benefit Fund, established, voluntary participation established for paid and volunteer firefighters, board of commissioners to administer, investment of assets by Employees' Retirement System, qualified service, disability and death benefits, annual audits and reports, voluntary contributions of policyholders of property and casualty insurance, duties to Insurance Department

Summary

HB446 would create the Alabama Firefighters Annuity and Benefit Fund with voluntary participation for paid and volunteer firefighters, funded by member contributions and optional policyholder check-offs, to provide retirement, disability, and death benefits.

What This Bill Does

The bill creates a new fund and a Board of Commissioners to run it, with assets invested by the Employees' Retirement System of Alabama. Firefighters can voluntarily join the fund and pay monthly dues; retirement benefits would start at age 62 with 25 years of qualified service, plus disability and death benefits. It also enables refunds on withdrawal, allows service credits (including prior service and military service), and includes a voluntary $2 check-off on property and casualty insurance policies to help fund the plan, with rules set by the Department of Insurance.

Who It Affects

• Firefighters in Alabama (paid and volunteer) who choose to participate would gain access to voluntary retirement, disability, and death benefits funded by member contributions.
• Policyholders of Alabama property and casualty insurance who opt into a voluntary $2 check-off on their premiums to fund the Firefighters Annuity and Benefit Fund.

Key Provisions

• Creates the Alabama Firefighters Annuity and Benefit Fund for voluntary participation by both paid and volunteer firefighters, with assets invested by the Employees' Retirement System of Alabama (ERS).
• Establishes a Board of Commissioners to administer the fund, set rules, and oversee investments and benefit payments; ERS handles investment of fund assets.
• Members pay a $20 monthly contribution after joining (with an initial $20 owed for new members); after 25 years of qualified service, monthly contributions may stop while preserving rights.
• Benefits include a retirement annuity starting at age 62 with 25 years of qualified service, disability benefits with a sliding monthly amount for up to 24 months, and a $2,500 death benefit to a designated beneficiary, plus refunds on withdrawal.
• Allows service credits for prior service, credits for Armed Forces service, and the option to purchase additional prior service credits with actuarially determined lump-sum payments; disability and reemployment provisions affect future credits and retirements.
• Funding includes a voluntary $2 check-off on property and casualty insurance policies to support the fund; the Department of Insurance would implement rules for this check-off.
• The fund is subject to actuarial valuation every three years (or sooner if required), semiannual reports, and annual audits; benefits and contributions can be adjusted based on actuarial findings and legislative changes.
• Benefits and rights are not vested and can be modified by future legislation; no member or beneficiary has guaranteed rights to benefits beyond current law as amended.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Firefighters