SB310 Alabama 2026 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2023
Title
Relating to the Retirement Systems of Alabama; to provide for an annualized benefit adjustment procedure for the funding of future benefit increases to retirees of the State Employees' Retirement System and the Teachers' Retirement System which will not increase the unfunded liability of either system due to the provisions which require the actual annual cost of any increase to be authorized and funded one year at a time with no authorization or liability for the benefit increase beyond the fiscal year for which the appropriations are made.
Description
Relating to the Retirement Systems of Alabama; to provide for an annualized benefit adjustment procedure for the funding of future benefit increases to retirees of the State Employees' Retirement System and the Teachers' Retirement System which will not increase the unfunded liability of either system due to the provisions which require the actual annual cost of any increase to be authorized and funded one year at a time with no authorization or liability for the benefit increase beyond the fiscal year for which the appropriations are made.
Subjects
RSA, procedure established for funding benefit increases of ERS and TRS retirees
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 10, 2023 | S | Introduced and Referred to Senate Finance and Taxation Education |
| May 10, 2023 | S | Read First Time in House of Origin |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | May 16, 2023 | Finance and Taxation at 10:00:00 | Senate Finance and Taxation Education Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB310 Alabama 2026 Session - Introduced |
| Fiscal Note | Fiscal Note - As Introduced |
Source: Alabama Legislature