HB44INTRODUCED
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HB44
K9X3AUA-1
By Representative Hill
RFD: Local Legislation
First Read: 04-Feb-25
PFD: 11-Sep-24
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6 K9X3AUA-1 09/04/2024 KMS (L)KMS 2024-2374
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PFD: 11-Sep-24
SYNOPSIS:
This bill would reopen the Teachers' Retirement
System to allow an active, vested, and contributing
member to purchase credit in the system for prior
service rendered to the St. Clair County DAY Program,
Incorporated.
A BILL
TO BE ENTITLED
AN ACT
To reopen the Teachers' Retirement System to permit
purchase of credit in the system for prior service rendered to
the St. Clair County DAY Program, Incorporated.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. (a) The governing body of the St. Clair
County DAY Program, Incorporated, by resolution legally
adopted to conform to the rules prescribed by the Board of
Control of the Teachers' Retirement System, may elect to have
its executive officers and full-time employees, from whatever
source and in whatever manner paid, become eligible to
participate in the Teachers' Retirement System of Alabama,
subject to all rules, regulations, and conditions thereof.
(b) After the governing body of the St. Clair County
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(b) After the governing body of the St. Clair County
DAY Program, Incorporated, has made an election through a
resolution as provided in subsection (a), its employees and
executive officers may participate in and be entitled to all
benefits of the Teachers' Retirement System of Alabama;
provided, that where contributions are made from salaries paid
by the St. Clair County DAY Program, Incorporated, the St.
Clair County DAY Program, Incorporated, shall pay the employer
cost, calculated as a percentage of the salaries of those
employees, to be contributed as employer contributions in
accordance with Section 16-25-21, Code of Alabama 1975. The
amount shall be paid monthly and at the same time as the
members' contributions are made to the Teachers' Retirement
System.
(c) The governing body of the St. Clair County DAY
Program, Incorporated, may provide in its resolution to the
Teachers' Retirement System's Board of Control that all
service rendered by an eligible employee or executive officer
to the program, previous to the effective date of the
program's election to come under the Teachers' Retirement
System, shall be creditable service to the employee or
executive officer; provided, that any provision shall apply
only to those employees and officers who were in the active
service of the program on the effective date of the program's
election to be covered under the Teachers' Retirement System;
and provided further, that the resolution also states that the
St. Clair County DAY Program, Incorporated, shall assume and
pay, as required, all costs necessary to fund the crediting of
the previous service, the costs to be determined by the
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the previous service, the costs to be determined by the
actuary employed by the Teachers' Retirement System Board of
Control. All benefits that accrue and are payable to any
beneficiary pursuant to this section shall be limited to, and
shall not exceed, the amount paid in by the beneficiary and
the employer plus his or her portion of the interest earned
and the enhancement of his or her monies by investing them,
less cost of administration, at no cost to the State of
Alabama.
Section 2. This act shall become effective on October
1, 2025.
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