SB242 Alabama 2012 Session

Updated Jul 25, 2021

SB242 Alabama 2012 Session

Senate Bill

Expired

Current Status

Regular Session 2012

Session

1

Sponsor

Summary

Primary Sponsor: Tom Whatley
Republican
Session: Regular Session 2012
Title: Retirement, Deferred Retirement Option Plan, members in DROP authorized to voluntarily leave service without forfeiting portion of DROP account constituting retirement allowance, interest, or member contributions, Act 2011-27, 2011 Reg. Sess. am'd.; Secs. 16-25-150, 36-27-170 am'd.
Description: Currently, a member of the Teachers' Retirement System or the Employees' Retirement System participating in the Deferred Retirement Option Plan (DROP) who voluntarily leaves service within the first three years in DROP will forfeit the portion of his or her DROP account that constitutes the retirement allowance.
This bill would allow members in DROP to voluntarily leave service without forfeiting the portion of his or her DROP account that constitutes the retirement allowance.
Subjects: Retirement

Bill Actions

Indefinitely Postponed

Read for the second time and placed on the calendar

Read for the first time and referred to the Senate committee on Finance and Taxation Education

Bill Text

Download Introduced PDF

Documents

Bill Text (Introduced) SB242 Alabama 2012 Session - Introduced

Source: Alabama Legislature