Alabama HB470 allows certain retired state employees to return to work without losing their retirement benefits, subject to conditions.

Alabama HB470 permits retired state employees to return to work under specific conditions. Retirees must commit to working for three consecutive years and pay a percentage of their compensation to support the administration of the retirement system. The bill applies retroactively to January 1, 2023, and prohibits employment under this provision after December 31, 2030. The annual earning limit for retirees returning to work is set at $52,000 per year. The Board of Control is tasked with establishing the percentage of compensation retirees must pay.

Alabama HB470 allows certain retired state employees to return to work without losing their retirement benefits, subject to conditions.

Alabama HB470 permits retired state employees to return to work under specific conditions. Retirees must commit to working for three consecutive years and pay a percentage of their compensation to support the administration of the retirement system. The bill applies retroactively to January 1, 2023, and prohibits employment under this provision after December 31, 2030. The annual earning limit for retirees returning to work is set at $52,000 per year. The Board of Control is tasked with establishing the percentage of compensation retirees must pay.