HB510 Alabama 2015 Session

Updated Jul 24, 2021

Summary

Primary Sponsor: Bill Poole
Republican
Session: Regular Session 2015
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, by adding subsection (g); 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; to provide an increase in the percentage of contributions; and to increase the DROP period to five years.
Subjects: Tuscaloosa County