SB330 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Retirement Sytems of Alabama, contributions to Employees' and Teachers' Retirement System, overtime compensation, included in earning compensation for retirement, Secs. 16-25-1, 36-27-1 am'd
Description
<p class="bill_description"> Currently, contributions made for retirement
under the Employees' Retirement System and the
Teachers' Retirement System are based on earnable
compensation as defined by law, which does not
specifically include overtime payments and
subsistence allowance payments</p><p class="bill_description">
This bill would amend current law to clarify
that overtime payments and subsistence allowance
payments are part of earnable compensation for
purposes of calculating retirement benefits</p><p class="bill_entitled_an_act"> To amend Sections 16-25-1 and 36-27-1, Code of
Alabama 1975, relating to retirement benefits under the
Employees' Retirement System and the Teachers' Retirement
System; to clarify that earnable compensation shall include
amounts paid as overtime payments and subsistence allowance
payments.
</p>
Subjects
Employees' Retirement System
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 16, 2012 | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB330 Alabama 2012 Session - Introduced |