HB427 Alabama 2017 Session

Sponsors

Session

Regular Session 2017

Title

Tier II correctional officers, firefighters and law enforcement officers authorized to retire with full benefits after 25 years of service, Secs. 16-25-14, 16-25-21, 36-27-16, 36-27-24, 36-27-59 am'd.

Description

<p class="bill_description"> Under existing law, a Tier II correctional officer, firefighter, or law enforcement officer is eligible for full retirement benefits if he or she retires after the age of 56 with at least 10 years of creditable service as a correctional officer, firefighter, or law enforcement officer</p><p class="bill_description"> This bill would allow Tier II members of the Employees' Retirement System or the Teachers' Retirement System employed as a local correctional officer, firefighter, or law enforcement officer to retire with full retirement benefits upon completion of 25 years of service</p><p class="bill_description"> The bill would also increase the contribution rate of the earnable compensation of Tier II members of the Employees' Retirement System or the Teachers' Retirement System employed as a local correctional officer, firefighter, or law enforcement officer to the retirement system</p><p class="bill_entitled_an_act"> Relating to retirement benefits of local correctional officers, firefighters, and law enforcement officers; to amend Sections 16-25-14, 16-25-21, 36-27-16, 36-27-24, and 36-27-59 of the Code of Alabama 1975; to allow Tier II members of the Employees' Retirement System or the Teachers' Retirement System employed as a local correctional officer, firefighter, or law enforcement officer to retire with full benefits upon completion of 25 years of service; and to increase the contribution rate of the earnable compensation of Tier II members of the Employees' Retirement System or the Teachers' Retirement System employed as a local correctional officer, firefighter, or law enforcement officer to the retirement system. </p>

Subjects

Retirement Systems