HB17 Alabama 2016 Session

Under existing law, the State Personnel Board has established a tax deferred compensation plan for employees of the state or a municipality, county, or other public entity electing to participate in the plan

This bill would authorize entities participating in the plan to enroll employees in the plan upon employment for a certain amount per pay period with an option to opt out of the plan within 90 days after enrollment

To amend Section 36-26-14, Code of Alabama 1975, as amended by Act 2015-83, providing for the establishment of a tax deferred compensation plan by the State Personnel Board, to authorize entities participating in the plan to enroll employees in the plan for a certain amount per pay period with provisions for the employee to opt out under certain conditions.