Retirement, RSA, ERS, Tier III Retirement plan created, plan benefits defined, Secs. 36-26-36.1, 36-27-1, 36-27-16, 36-27-24, 36-27-59 am'd.
This bill would establish a new defined benefit retirement plan for any public employee who is first hired on or after October 1, 2020, by an employer who participates in the Employees' Retirement System
To amend Sections 36-26-36.1, 36-27-1, 36-27-16, as last amended by Act 2019-316, 2019 Regular Session, 36-27-24, and 36-27-59, Code of Alabama 1975, relating to retirement benefits for employees who are members of the Employees' Retirement System, to establish a new defined benefit retirement plan for employees who first become a member of the Employees' Retirement System on or after October 1, 2020, or any Tier II plan member who has elected to join the new plan.
February 18, 2020
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund