Under existing law, the State of Alabama Personnel Board is authorized to adopt a plan recommended by the employees of the State of Alabama through the Alabama State Employees Association providing for tax deferred annuity and deferred compensation programs for the salaried employees of the State of Alabama and arrange for efficient administrative services through the Alabama State Employees Association or its designated agent.
This bill would authorize the State of Alabama Personnel Board to adopt a plan providing for such tax deferred annuity and deferred compensation programs for employees of counties, cities, towns, or any subdivision that may participate, and arrange for efficient administrative investments and professional services.
This bill would allow retired program participants to have their monthly insurance premiums deducted from their deferred compensation distribution in accordance with the Internal Revenue Service guidelines.
Hill motion to Indefinitely Postpone adopted Voice Vote
Hill motion to Substitute SB272 for HB190 adopted Voice Vote
Motion to Adopt adopted Roll Call 866
Hill Amendment Offered
Motion to Adopt adopted Roll Call 865
State Government Amendment Offered
Third Reading Indefinitely Postponed
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the House of Representatives committee on State Government
Source: Alabama Legislature