SB72 Alabama 2011 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2011
Title
Retirement, Deferred Retirement Option Plan, new participation prohibited, limits on interest paid on DROP accounts, Secs. 16-25-150, 36-27-170 am'd.
Description
Currently, members of the Teachers' Retirement System and the Employees' Retirement System may participate in the Deferred Retirement Option Plan if they meet certain criteria
This bill would prohibit new participation in the DROP Program after April 1, 2011, and would impose limits on interest that could be paid on DROP accounts
To amend Sections 16-25-150 and 36-27-170 of the Code of Alabama 1975, relating to the Deferred Retirement Option Plan, to prohibit new participation in the plan and limit interest paid on accounts.
Subjects
Retirement
Bill Text
Bill Votes
2011-03-22
Chamber: Senate
Result: Passed
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB72 Alabama 2011 Session - Enrolled |
| Bill Text | SB72 Alabama 2011 Session - Engrossed |
| Bill Text | SB72 Alabama 2011 Session - Introduced |