SB330 Alabama 2012 Session
Bill Summary
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
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
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.
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 |