HB508 Alabama 2012 Session
Bill Summary
Under existing law, retirement benefits are provided to public employees through the Teachers' Retirement System and the Employees' Retirement System
This bill will establish a new defined benefit retirement plan for any public employee who is first hired on or after January 1, 2013, by an employer who participates in the Teachers' Retirement System or the Employees' Retirement System
To amend Sections 16-25-1, 16-25-3, 16-25-11.1, 16-25-14, 16-25-21, 36-26-36.1, 36-27-1, 36-27-4, 36-27-16, 36-27-24 and 36-27-59, Code of Alabama 1975, relating to retirement benefits for employees who are members of the Teachers' Retirement System or the Employees' Retirement System, to establish a new defined benefit retirement plan for employees who first become a member of either system on or after January 1, 2013; to require those employees to pay a percentage of their salary into the new plan; to establish minimum age and service requirements in order for those employees to retire under the new plan; and to provide for the administration of the new plan by the Retirement Systems of Alabama.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 9, 2012 | Indefinitely Postponed | |
| March 22, 2012 | State Government second Amendment Offered | |
| March 22, 2012 | State Government first Amendment Offered | |
| March 22, 2012 | Read for the second time and placed on the calendar 2 amendments | |
| March 8, 2012 | Read for the first time and referred to the House of Representatives committee on State Government |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB508 Alabama 2012 Session - Introduced |