HB 249 extends the deadline for local units in the Employees' Retirement System to elect to come under Act 2017-367, which provides a one-time lump-sum retirement payment, and sets when and who pays it.
It extends the election window for local employers to join Act 2017-367 by official resolution on or before October 31, 2018. If an employer makes the election by that date, the lump-sum payments required by Act 2017-367 will be paid in December 2018 to eligible recipients who are receiving a benefit as of April 1, 2018. The employer that makes the election must pay the cost of those lump-sum payments. The act becomes effective immediately after the Governor signs it.
Forwarded to Governor on March 27, 2018 at 6:09 p.m. on March 27, 2018.
Forwarded to Governor on March 27, 2018 at 6:09 p.m. on March 27, 2018.
Assigned Act No. 2018-563.
Clerk of the House Certification
Enrolled
Signature Requested
Passed Second House
Motion to Read a Third Time and Pass adopted Roll Call 1193
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Motion to Read a Third Time and Pass adopted Roll Call 481
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
Source: Alabama Legislature