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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2019 Alabama Legislative Regular Session
  5. 2019 Alabama House Bills
  6. HB1 Alabama 2019 Session

HB1 Alabama 2019 Session

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In Committee

Bill Summary

Sponsors
  • John W. Rogers
Session
Regular Session 2019
Title
Retirement, Deferred Retirement Option Plan (DROP), open participation in Employees' Investment Retirement Plan (EIRP), 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

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 open participation in an Employees' Investment Retirement Plan (EIRP) and would further provide options for Tier I and Tier II members to participate in EIRP

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 open participation in an Employees' Investment Retirement Plan (EIRP) for certain members; and to further provide options for Tier I and Tier II members to participate in EIRP.

Subjects
Deferred Retirement Option Plan (DROP)

Bill Actions

Action DateChamberAction
March 5, 2019HRead for the first time and referred to the House of Representatives committee on Ways and Means General Fund

Bill Text

Download HB1 Alabama 2019 Session PDF

Bill Documents

TypeLink
Bill Text HB1 Alabama 2019 Session - Introduced
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