HB 21

Signed by Governor

Contents hide

1 Bill Summary
2 Bill Actions
3 Bill Calendar
4 Bill Text
5 Bill Votes
6 Bill Documents

Bill Summary

Sponsors

Alan Baker

Session

Regular Session 2019

Title

Retirement of members of the Teachers' Retirement System and the Employees' Retirement System who elect to receive a reduced retirement allowance, additional option of electing to receive a partial lump-sum distribution as a single payment, provided for under certain conditions, Secs. 16-25-14 & 36-27-16 am'd.

Description

Under existing law, a member of the Teachers' Retirement System or the Employees' Retirement System may elect, prior to retirement, to receive, in lieu of his or her retirement allowance payable throughout life, the actuarial equivalent, at that time, of his or her retirement allowance in a reduced retirement allowance payable throughout life, with certain options available to the member for the disbursement of the reduced retirement allowance

This bill would give certain retirees of the Teachers' Retirement System and the Employees' Retirement System an additional option of electing to receive a partial lump-sum distribution as a single payment, not to exceed the sum of 24 months of the maximum monthly retirement allowance of the member, and the option may be elected in addition to the other options available to the member for the disbursement of the reduced retirement allowance, under certain conditions

To amend Sections 16-25-14 and 36-27-16, Code of Alabama 1975, relating to the retirement of members of the Teachers' Retirement System and the Employees' Retirement System who elect to receive a reduced retirement allowance; to provide an additional option of electing to receive a partial lump-sum distribution as a single payment, under certain conditions.

Subjects

Retirement Systems

Bill Actions

Action Date	Chamber	Action
May 23, 2019	H	Forwarded to Governor on May 23, 2019 at 1:08 p.m. on May 23, 2019.
May 23, 2019	H	Assigned Act No. 2019-316.
May 23, 2019	H	Clerk of the House Certification
May 23, 2019	H	Enrolled
May 23, 2019	S	Signature Requested
May 23, 2019	H	Passed Second House
May 23, 2019	S	Motion to Read a Third Time and Pass adopted Roll Call 1097
May 23, 2019	S	Third Reading Passed
May 8, 2019	S	Read for the second time and placed on the calendar
April 4, 2019	S	Read for the first time and referred to the Senate committee on Finance and Taxation Education
April 4, 2019	H	Motion to Read a Third Time and Pass adopted Roll Call 130
April 4, 2019	H	Third Reading Passed
April 3, 2019	H	Read for the second time and placed on the calendar
March 5, 2019	H	Read for the first time and referred to the House of Representatives committee on Ways and Means Education

Bill Calendar

Type	Date	Location	Description
Hearing	May 8, 2019	Room 825 * Bill Added* at 10:00	Senate F&TE Hearing
Hearing	April 3, 2019	Room 200 at 09:00	House W&ME Hearing

Type	Link
Bill Text	HB 21 - Enrolled
Bill Text	HB 21 - Introduced