HB78 Alabama 2019 Session

Sponsors

Session

Regular Session 2019

Title

Retirement, retirees of Employee Retriement System and Teachers' Retirement System receiving allowance, max annual compensation increased, Secs. 16-25-26, 36-27-8.2 am'd.

Description

<p class="bill_description"> Under existing law, a retiree receiving an Employees' Retirement System or Teachers' Retirement System allowance may receive compensation for performing duties with an employer participating in the system without suspension of the retirement allowance, provided the person is not employed in a permanent, full-time capacity, and the annual compensation does not exceed $30,000, plus Consumer Price Index adjustments after 2017</p><p class="bill_description"> This bill would increase the maximum annual compensation that a retiree receiving an Employees' Retirement System or Teachers' Retirement System allowance may earn for performing duties with an employer participating in the system to $42,000, beginning in the 2020 calendar year, plus Consumer Price Index adjustments after 2025</p><p class="bill_entitled_an_act"> Relating to retirement; to amend Sections 16-25-26 and 36-27-8.2, Code of Alabama 1975, relating to the Teachers' Retirement System and the Employees' Retirement System; to increase the maximum annual compensation that a retiree receiving an Employees' Retirement System or Teachers' Retirement System allowance may earn for performing duties with an employer participating in the system. </p>

Subjects

Retirement Systems