This bill would create a separate fund in the State Treasury known as the Education Retirees' Trust Fund for Cost-of-Living Adjustments. The bill would provide for funding, including from a lottery if one is authorized; provide that when the assets of the trust are sufficient to fully fund a cost-of-living adjustment for education retirees of one percent or more, funds would be transferred and used for that purpose
To create the Education Retirees' Trust Fund for Cost-of-Living Adjustments for the purpose of providing education retirees with cost-of-living increases.
|April 16, 2019||S||Read for the first time and referred to the Senate committee on Finance and Taxation Education|
|Bill Text||SB299 Alabama 2019 Session - Introduced|