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.
|January 14, 2010||Read for the first time and referred to the Senate committee on Finance and Taxation Education|
|Bill Text||SB244 Alabama 2010 Session - Introduced|