SB397 Alabama 2014 Session

Summary

Primary Sponsor

Gerald H. Allen Senator

Republican

Session

Regular Session 2014

Title

Tuscaloosa Co., retirement system for police officers and firefighters, pension benefits, member contribution, Act 99-568, 1999 Reg. Sess., am'd.

Description

Relating to the City of Tuscaloosa in Tuscaloosa County; to amend Act 99-568 of the 1999 Regular Session (Acts 1999, p. 1220), as amended, providing for a retirement system for police officers and firefighters; to amend Section 4.01 relating to age and years of service at which plan members acquire a nonforfeitable right to receive a monthly pension benefit; Section 4.04 relating to continuing pension benefits for the surviving spouse and dependent children of deceased retirees; Section 6.03 relating to Member Contributions; Section 6.05 relating to City Contributions (non picked-up); and Section 7.14 relating to the Deferred Retirement Option Plan (DROP); to provide for certain benefits for persons becoming members of the plan after the effective date of this amendatory act and for their surviving spouses and dependent children; to provide an increase in the percentage of contributions; and to increase the DROP period to five years.

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Subjects

Tuscaloosa County