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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2019 Alabama Legislative Regular Session
  5. 2019 Alabama Senate Bills
  6. SB 149
Tuscaloosa, AL holds municipal elections March 2, 2021. Click here to view the elections and the candidates running.

SB 149

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In Committee
Contents hide
  • 1 Bill Summary
  • 2 Bill Actions
  • 3 Bill Text
  • 4 Bill News
  • 5 Bill Documents

Bill Summary

Sponsors
  • Shay Shelnutt
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 Date Chamber Action
March 20, 2019 S Read for the first time and referred to the Senate committee on Education Policy

Bill Text

Download SB 149 PDF

Bill News

  • Alabama: Time to Get Serious About Rural Broadband

Bill Documents

Type Link
Bill Text SB 149 - Introduced
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