HB352 Alabama 2010 Session
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Bill Summary
Sponsors
Session
Regular Session 2010
Title
Teachers' Retirement System and Employees' Retirement System, pension accumulation fund, accrued liability contribution rate authorized to be computed by Board of Control over 30-year period, Sec. 16-25-21, 36-27-24 am'd.
Description
Currently the accrued liability contribution rate for the Teachers' Retirement System and the Employees' Retirement System is computed by the actuary over a period of not less than 10 nor more than 20 years. This bill would increase the funding period to no more than 30 years
To amend Sections 16-25-21 and 36-27-24, Code of Alabama, 1975 to increase the maximum funding period for which the accrued liability contribution is calculated for the Teachers' Retirement System and the Employees' Retirement System from 20 years to 30 years.
Subjects
Employees' Retirement System
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 23, 2010 | Read for the first time and referred to the Senate committee on Finance and Taxation Education | |
| February 17, 2010 | Motion to Read a Third Time and Pass adopted Roll Call 301 | |
| February 17, 2010 | Third Reading Passed | |
| February 11, 2010 | Read for the second time and placed on the calendar | |
| January 19, 2010 | Read for the first time and referred to the House of Representatives committee on Education Appropriations |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB352 Alabama 2010 Session - Introduced |