HB585 Alabama 2010 Session

Summary

Primary Sponsor

Richard Lindsey

Democrat

Session

Regular Session 2010

Title

Teachers' Retirement System, Alabama Higher Education Partnership, Inc., officers and employees of authorized to participate

Summary

HB585 lets officers and employees of the Alabama Higher Education Partnership, Inc. join the Teachers' Retirement System and have the Partnership cover the employer costs.

What This Bill Does

If passed, the Alabama Higher Education Partnership, Inc. can elect to have its officers and employees participate in the Teachers' Retirement System. Participants would receive all TRS benefits, and employer contributions would be paid by the Partnership as a percentage of salaries, monthly, along with the employee contributions. The resolution can also allow prior service credit for time worked before the election, with the organization paying the costs to fund that credit, as determined by TRS actuaries. The measure becomes effective immediately after passage.

Who It Affects

• Officers and employees of the Alabama Higher Education Partnership, Inc. who become eligible to participate in the Teachers' Retirement System and may receive TRS benefits
• The Alabama Higher Education Partnership, Inc. as the employer, which would pay employer contributions and any costs necessary to fund prior service credit

Key Provisions

• The Partnership's governing body may elect, by resolution, to have its officers and employees participate in the Teachers' Retirement System
• If election occurs, contributions come from salaries paid by the Partnership, with the Partnership paying employer contributions and the monthly timing aligned with employee contributions, under Section 16-25-21
• The resolution may provide that service rendered before the election date is creditable, with the organization paying all costs to fund that crediting as determined by the TRS actuary
• The act becomes effective immediately upon passage and approval

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

Subjects

Teachers' Retirement System