HB532 Alabama 2017 Session
Bill Summary
Existing law provides for the Deferred Retirement Option Plan (DROP), which contractually allows a member of the Employees' Retirement System (ERS) or the Teachers' Retirement System (TRS) to continue employment with his or her employer for a specific period of time, while deferring a portion of his or her retirement allowance until the end of the participation period, at which time the member withdraws from his or her service
Existing law provides that participation in DROP is prohibited after March 24, 2011
This bill would reopen participation in the DROP program and would further provide options for Tier I and Tier II members to participate in DROP
To amend Sections 16-25-150, 16-25-151, 36-27-170, and 36-27-171 of the Code of Alabama 1975, relating to the Deferred Retirement Option Plan (DROP); to reopen participation in the DROP program for certain members; and to further provide options for Tier I and Tier II members to participate in DROP.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 17, 2017 | H | Indefinitely Postponed |
| May 9, 2017 | H | Read for the second time and placed on the calendar |
| April 18, 2017 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | May 9, 2017 | Room 200 at 12:00 | House W&MGF Hearing |
| Hearing | May 3, 2017 | Room 617 at 13:30 | House W&MGF Public Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB532 Alabama 2017 Session - Introduced |