HB308 Alabama 2016 Session

Updated Feb 26, 2026

Low Interest

Summary

Primary Sponsor: Louise Alexander
Democrat
Session: Regular Session 2016
Title: Jefferson Co., Retirement System, Pension Board, membership revised, Act 2013-415, 2013 Reg. Sess., am'd; Sec. 45-37-123.21 am'd.
Summary: HB308 requires the Jefferson County Pension Board’s first member (the chair) to have at least 10 years of executive experience in insurance, investment management/consulting, or actuarial work.
What This Bill Does
The bill amends the pension board’s qualifications to ensure the chair has 10 years of relevant executive experience. It maintains a five-member board and outlines how each seat is filled, including term lengths. It clarifies the selection process for members two through five and preserves existing governance provisions such as secretary duties and expense reimbursement.

Who It Affects
Member number one (the chair) of the Jefferson County Pension Board, who must now meet the new 10-year executive experience requirement and is appointed by the county governing body
Jefferson County officials and system participants involved in appointing or electing pension board members (county governing body, judge of probate, Jefferson County Personnel Board, and active/retired system members), who are responsible for implementing the new qualifications and election procedures

Key Provisions
Member number one shall have a minimum of 10 years' experience in an executive capacity in insurance, investment management/consultant, or actuarial work.
The initial term for member number one remains one year; thereafter the term shall be three years.
Member number two must have a minimum of 10 years' experience in investing or banking; initial term is two years, then three years.
Member number three shall be elected by the Jefferson County Personnel Board; initial term three years, with subsequent three-year terms.
Members number four and five shall be elected by the active and retired members of the system; member four is a retired member, with initial one-year term and then three-year terms; member five serves three-year terms.
Elections for members four and five shall be conducted on separate ballots and supervised by three active system members; the pension board may appoint an election board if the active/retired members fail to do so; the board may establish additional rules for these elections.
Vacancies on the pension board are filled in the same manner as the original appointment; resignations/removals follow established procedures; the secretary role may be filled by the county personnel director or appointee, otherwise the pension coordinator serves as secretary.
Board members serve without pay but are reimbursed for actual expenses; they do not suffer loss of salary if employed by the county.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Jefferson County