Alabama HB130 reopens the Teachers' Retirement System to allow credit for prior service at St. Clair County Day Program, Incorporated.

Alabama HB130 reopens the Teachers' Retirement System to allow active, vested, and contributing members to purchase credit for prior service rendered to the St. Clair County Day Program, Incorporated. The governing body of the program can elect to have its employees and executive officers participate in the retirement system, with the program paying employer contributions. The resolution must state that the program will assume and pay all costs necessary to fund the crediting of previous service, determined by the actuary employed by the Teachers' Retirement System Board of Control.

Alabama HB130 reopens the Teachers' Retirement System to allow credit for prior service at St. Clair County Day Program, Incorporated.

Alabama HB130 reopens the Teachers' Retirement System to allow active, vested, and contributing members to purchase credit for prior service rendered to the St. Clair County Day Program, Incorporated. The governing body of the program can elect to have its employees and executive officers participate in the retirement system, with the program paying employer contributions. The resolution must state that the program will assume and pay all costs necessary to fund the crediting of previous service, determined by the actuary employed by the Teachers' Retirement System Board of Control.