SB244 Alabama 2010 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2010
Title
Teachers' Retirement System, pension accumulation fund, accrued liability contribution rate authorized to be computed by Board of Control over a 30-year period, Sec. 16-25-21 am'd.
Description
Currently the accrued liability contribution rate for the Teachers' Retirement System is computed by the actuary over a period of not less than 10 nor more than 20 years. This bill would increase the funding period to no more than 30 years
To amend Section 16-25-21, Code of Alabama, 1975 to increase the maximum funding period for which the accrued liability contribution is calculated for the Teachers' Retirement System from 20 years to 30 years.
Subjects
Teachers' Retirement System
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 14, 2010 | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB244 Alabama 2010 Session - Introduced |