Currently, members of the Teachers' Retirement System and the Employees' Retirement System may not be new participants in the DROP Program after April 1, 2011, which also imposes limits on interest that could be paid on DROP accounts
This bill would reestablish the DROP and would remove limits on interest that could be paid on DROP accounts
To amend Sections 16-25-150 and 36-27-170, Code of Alabama 1975, relating to the Deferred Retirement Option Plan, to allow new participation in the plan and remove limits on interests paid on the accounts.
|January 21, 2014||H||Read for the first time and referred to the House of Representatives committee on Ways and Means Education|
|Bill Text||HB305 Alabama 2014 Session - Introduced|