AL
Alabama House Bill HB134

Alabama 2022 Regular Session

Alabama House Bill HB134

Introduced
1/13/22  
Refer
1/13/22  
Engrossed
2/3/22  
Refer
2/3/22  
Enrolled
3/31/22  
Chaptered
3/31/22  

Caption

Teachers Retirement System, 30-year service retirement, member contribution rate increased, Secs. 16-25-14, 16-25-21 am'd.

Impact

The proposed amendment directly impacts the retirement statutes governing the Teachers' Retirement System in Alabama, specifically targeting the benefits available to Tier II members and adjusting how retirement eligibility is determined. By allowing Tier II plan members to retire after 30 years of service, it could lead to a faster transition for eligible employees into retirement, which may affect the demographics of the teaching workforce. This could open up opportunities for new educators while also prompting discussions about managing the transitions effectively to maintain educational standards.

Summary

House Bill 134 aims to amend the retirement benefits provisions for members of the Teachers' Retirement System in Alabama, particularly concerning the Tier II plan members. The legislation modifies the existing retirement structure by introducing a 30-year service retirement option, allowing eligible members the opportunity to retire earlier based on years of service. This change is designed to enhance the flexibility and options available to educators and state employees approaching retirement within the system, potentially encouraging experienced professionals to remain in the workforce for longer periods while also preparing for their retirement.

Sentiment

Sentiment around HB 134 appears to be largely positive among educators and active members of the Teachers' Retirement System. Advocates argue that the bill provides much-needed support for long-serving educators who deserve flexibility and fairness in their retirement options. However, there are some concerns among policymakers regarding the financial implications of expanded retirement options, raising questions about how this could affect the financial sustainability of the retirement system in the long term.

Contention

Notable points of contention include discussions about the sustainability of the Teachers' Retirement System and how these amendments will be funded over time. Some legislators express worries that increasing the retirement benefits could create budgetary pressures if not managed correctly. Others argue for the necessity of such reforms in retaining quality educators within the system, suggesting that while costs need to be monitored, the changes are ultimately beneficial for the workforce and the state’s education system.

Latest HB134 Activity

Companion Bills

No companion bills found.

Similar Bills

AL HB308

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AL SB230

Employees' Retirement System, retirement benefits for Tier II plan members modified to provide 30-year service retirement, conversion of sick leave, and hazardous duty time for firefighters, law enforcement, and correctional officers, contribution rate increased, Secs. 36-26-36.1, 36-27-16, 36-27-24, 36-27-59 am'd.

AL HB155

Retirement System of Alabama, surviving spouse benefit of a retirement eligible member who dies in active service, benefit-option amended under District Attorneys' Plan, Judges' and Clerks' Plan, Teachers' and Employees' Retirement System, Secs. 12-17-277.6, 12-18-156, 16-25-14, 36-27-16 am'd.

AL HB308

Relating to the Retirement Systems of Alabama; to amend Section 16-25-14, as last amended by Act 2022-184 and Act 2022-222 of the 2022 Regular Session, and Section 36-27-16, as last amended by Act 2022-184 and Act 2022-351 of the 2022 Regular Session, Code of Alabama 1975, to require an individual retired under the Teachers' Retirement System, Employees' Retirement System, or Judicial Retirement Fund to draw his or her retirement benefits for 12 consecutive months before returning to compensated work for a participating employer; to limit the person's compensation from the employer to 75 percent of the person's annual retirement benefit for each calendar year; and to repeal Sections 16-25-26, 29-4-6, and 36-27-8.2, Code of Alabama 1975, authorizing certain retired public employees to return to work for participating employers.

AL HB278

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AL SB188

Retirement System, retirees required to work for a least a year before returning to compensated work for a participating employer, Secs. 16-25-26, 29-4-6, 36-27-8.2 repealed; Secs. 16-25-14, 36-27-16 am'd.

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To amend Sections 36-27-1, 36-27-16, as last amended by Acts 2022-184 and 2022-351, 2022 Regular Session, and 41-27-7, Code of Alabama 1975, relating to retirement benefits for employees who are members of the Employees' Retirement System; to reopen the State Police Tier II Plan to any employee of the Alabama State Law Enforcement Agency who is certified by the Alabama Peace Officers' Standards and Training Commission and performs law enforcement duties; to modify the Tier II benefits received by all State Police Tier II members; and to clarify that employees of the Alabama State Law Enforcement Agency are state policemen for retirement purposes.

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