HB446 Alabama 2010 Session

This bill would create the Alabama Firefighters Annuity and Benefit Fund for paid and volunteer firefighters. Participation would be voluntary and in addition to any other benefit provided by law

The bill would provide for a board of commissioners to administer the act and the fund created by the act. Assets in the fund would be invested and reinvested by the Employees' Retirement System of Alabama

The bill would provide for qualified service, the process for applying for and receiving benefits, the management of the fund, refunds for members who leave the fund, disability and death benefits, voluntary fees to finance the fund, annual audits and reports of the fund, and administrative duties of the board

To create the Alabama Firefighters Annuity and Benefit Fund for paid and volunteer firefighters; to provide for a board of commissioners to administer the act and the fund created by the act; to provide that assets in the fund shall be invested and reinvested by the Employees' Retirement System (ERS) of Alabama for a reasonable fee in accordance with ERS administrative policies; to provide for qualified service, the process for applying for and receiving benefits, refunds for members who leave the fund, disability and death benefits, voluntary fees to finance the fund, annual audits and reports of the fund, and administrative duties of the board.