HB305 Alabama 2014 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2014
Title
Retirement, DROP reestablished, exceptions, Secs. 16-25-150, 36-27-170 am'd.
Description
Currently, members of the Teachers' Retirement System and the Employees' Retirement System may not be new participants in the DROP Program after April 1, 2011, which also imposes limits on interest that could be paid on DROP accounts
This bill would reestablish the DROP and would remove limits on interest that could be paid on DROP accounts
To amend Sections 16-25-150 and 36-27-170, Code of Alabama 1975, relating to the Deferred Retirement Option Plan, to allow new participation in the plan and remove limits on interests paid on the accounts.
Subjects
Retirement
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 21, 2014 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB305 Alabama 2014 Session - Introduced |