Alabama 2025 Regular Session

Alabama House Bill HB44 Compare Versions

Only one version of the bill is available at this time.

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1	1	HB44INTRODUCED
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3	3	HB44
4	4	K9X3AUA-1
5	5	By Representative Hill
6	6	RFD: Local Legislation
7	7	First Read: 04-Feb-25
8	8	PFD: 11-Sep-24
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14	14	6 K9X3AUA-1 09/04/2024 KMS (L)KMS 2024-2374
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16	16	PFD: 11-Sep-24
17	17	SYNOPSIS:
18	18	This bill would reopen the Teachers' Retirement
19	19	System to allow an active, vested, and contributing
20	20	member to purchase credit in the system for prior
21	21	service rendered to the St. Clair County DAY Program,
22	22	Incorporated.
23	23	A BILL
24	24	TO BE ENTITLED
25	25	AN ACT
26	26	To reopen the Teachers' Retirement System to permit
27	27	purchase of credit in the system for prior service rendered to
28	28	the St. Clair County DAY Program, Incorporated.
29	29	BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
30	30	Section 1. (a) The governing body of the St. Clair
31	31	County DAY Program, Incorporated, by resolution legally
32	32	adopted to conform to the rules prescribed by the Board of
33	33	Control of the Teachers' Retirement System, may elect to have
34	34	its executive officers and full-time employees, from whatever
35	35	source and in whatever manner paid, become eligible to
36	36	participate in the Teachers' Retirement System of Alabama,
37	37	subject to all rules, regulations, and conditions thereof.
38	38	(b) After the governing body of the St. Clair County
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66	66	28 HB44 INTRODUCED
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68	68	(b) After the governing body of the St. Clair County
69	69	DAY Program, Incorporated, has made an election through a
70	70	resolution as provided in subsection (a), its employees and
71	71	executive officers may participate in and be entitled to all
72	72	benefits of the Teachers' Retirement System of Alabama;
73	73	provided, that where contributions are made from salaries paid
74	74	by the St. Clair County DAY Program, Incorporated, the St.
75	75	Clair County DAY Program, Incorporated, shall pay the employer
76	76	cost, calculated as a percentage of the salaries of those
77	77	employees, to be contributed as employer contributions in
78	78	accordance with Section 16-25-21, Code of Alabama 1975. The
79	79	amount shall be paid monthly and at the same time as the
80	80	members' contributions are made to the Teachers' Retirement
81	81	System.
82	82	(c) The governing body of the St. Clair County DAY
83	83	Program, Incorporated, may provide in its resolution to the
84	84	Teachers' Retirement System's Board of Control that all
85	85	service rendered by an eligible employee or executive officer
86	86	to the program, previous to the effective date of the
87	87	program's election to come under the Teachers' Retirement
88	88	System, shall be creditable service to the employee or
89	89	executive officer; provided, that any provision shall apply
90	90	only to those employees and officers who were in the active
91	91	service of the program on the effective date of the program's
92	92	election to be covered under the Teachers' Retirement System;
93	93	and provided further, that the resolution also states that the
94	94	St. Clair County DAY Program, Incorporated, shall assume and
95	95	pay, as required, all costs necessary to fund the crediting of
96	96	the previous service, the costs to be determined by the
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124	124	56 HB44 INTRODUCED
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126	126	the previous service, the costs to be determined by the
127	127	actuary employed by the Teachers' Retirement System Board of
128	128	Control. All benefits that accrue and are payable to any
129	129	beneficiary pursuant to this section shall be limited to, and
130	130	shall not exceed, the amount paid in by the beneficiary and
131	131	the employer plus his or her portion of the interest earned
132	132	and the enhancement of his or her monies by investing them,
133	133	less cost of administration, at no cost to the State of
134	134	Alabama.
135	135	Section 2. This act shall become effective on October
136	136	1, 2025.
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