SB2 Alabama 2018 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2018
Title
Retirement, Deferred Retirement Option Plan (DROP), options for Tier I and Tier II members to participate, reopened, Secs. 16-25-150, 16-25-151, 36-27-170, 36-27-171 am'd.
Description
<p class="bill_description"> 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</p><p class="bill_description">
Existing law provides that participation in
DROP is prohibited after March 24, 2011</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> 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.
</p>
Subjects
Deferred Retirement Option Plan (DROP)
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 9, 2018 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | March 8, 2017 | Room 429 at 15:00 | House SG Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB2 Alabama 2018 Session - Introduced |