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| URL: | http://alisondb.legislature.state.al.us/...ableinstruments/2 015rs/bills/HB29.htm |
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| Modified: | 2015-07-10 10:48:04 |
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| Title: | HB29 |
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| Body: | Rep(s). By Representative Wood HB29 ENROLLED, An Act, Relating to the Employees' Retirement System of Alabama; to allow a member of the retirement system who is away from work because of a job related injury and is receiving workers' compensation benefits pursuant to Section 25-5-1, Code of Alabama 1975, to purchase this service. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. (a) Notwithstanding any other laws, any active and contributing member of the Employees' Retirement System of Alabama may purchase up to two years of service credit for the time he or she was receiving benefits pursuant to the Alabama Workers' Compensation Act, commencing with Section 25-5-1, Code of Alabama 1975, and was absent from work due to a work related and compensable injury; provided that the member returned to work with his or her covered employer within one year following cessation of workers' compensation benefits. The Board of Control of the Employees' Retirement System shall adopt rules and regulations for the administration of this section including verification of the service that the member desires to purchase credit for in the system. The member shall receive credit for the service when he or she remits to the system the contributions required by subsection (b). Notwithstanding the foregoing language, no member of the Employees' Retirement System shall be eligible to receive credit for any period of time that the member is already credited with in the system or in any other retirement plan, with the exception of the federal Social Security program. (b) Any member who is eligible to purchase service credit in the Employees' Retirement System under subsection (a) shall pay to the Secretary-Treasurer of the system within two years from the end of the disability period for which credit is sought for the claimed service, a lump sum equal to the full actuarially required cost for each year of service credit purchased as determined by the actuary for the system. Section 2. This act shall become effective on the first day of the third month following its passage and approval by the Governor, or its otherwise becoming law. Workers' Compensation Retirement Injury |