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.
Delivered to Governor at 1:47 p.m. on April 19, 2012
Assigned Act No. 2012-232.
Signature Requested
Enrolled
Concurred in Second House Amendment
Marsh motion to Concur In and Adopt adopted Roll Call 652
Concurrence Requested
Motion to Read a Third Time and Pass adopted Roll Call 870
Motion to Adopt adopted Roll Call 869
State Government 2nd Amendment Offered
Motion to Adopt adopted Roll Call 868
State Government 1st Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar 2 amendments
Read for the first time and referred to the House of Representatives committee on State Government
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 191
Motion to Adopt adopted Roll Call 190
Williams Amendment Offered
Motion to Adopt adopted Roll Call 189
Fiscal Responsibility and Accountability Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the Senate committee on Fiscal Responsibility and Accountability
Source: Alabama Legislature