Alabama HB339 provides a benefit increase for certain retirees of the Teachers' Retirement System starting October 1, 2026.

Alabama HB339 establishes a benefit increase for eligible retirees of the Teachers' Retirement System, effective October 1, 2026. This increase applies to retirees who retired before October 1, 2025, have at least 25 years of service, and receive an annual benefit of $25,000 or less. The increase is subject to the system's annual cost-of-living adjustment procedure. Survivor allowances for eligible retirees will also be adjusted based on the retiree's original option selection. The increase will not apply to retirees whose Medicaid eligibility would be impaired by the increase.

Alabama HB339 provides a benefit increase for certain retirees of the Teachers' Retirement System starting October 1, 2026.

Alabama HB339 establishes a benefit increase for eligible retirees of the Teachers' Retirement System, effective October 1, 2026. This increase applies to retirees who retired before October 1, 2025, have at least 25 years of service, and receive an annual benefit of $25,000 or less. The increase is subject to the system's annual cost-of-living adjustment procedure. Survivor allowances for eligible retirees will also be adjusted based on the retiree's original option selection. The increase will not apply to retirees whose Medicaid eligibility would be impaired by the increase.