SB373 Alabama 2014 Session

Summary

Primary Sponsor

Quinton Ross

Democrat

Co-Sponsors

William “Bill” M. BeasleyLinda Coleman-MadisonVivian Davis FiguresTammy IronsPriscilla DunnRoger Bedford, Jr.Hank Sanders

Session

Regular Session 2014

Title

Retirement, DROP reestablished, exceptions, Secs. 16-25-150, 36-27-170 am'd.

Description

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, and there are limits on interest that may be paid on DROP accounts.

This bill would reestablish the DROP, further provide for the DROP requirements and interest on accounts, and remove limits on interest that could be paid on DROP accounts.

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Subjects

Retirement