HB308

ENROLLED, An Act,

Relating to Jefferson County and the General Retirement System for Employees of Jefferson County; to amend Section 2, Article II, 2.2(b)(1) of Act 2013-415, 2013 Regular Session (Acts 2013, p. 1586), now appearing as Section 45-37-123.21 of the Code of Alabama 1975, as amended by Act 2015-211; to require that Member Number One of the Pension Board shall have a minimum of 10 years' experience in an executive capacity in insurance, investment management/consultant, or actuarial work.

BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 2, Article II, 2.2(b)(1), of Act 415 of the 2013 Regular Session (Acts 2013, p. 1586), now appearing as Section 45-37-123.21 of the Code of Alabama 1975, as amended by Act 2015-211, is amended to read as follows:

§45-37-123.21.

§45-37-123.21.

"(a) General administration. The role of the pension board is established by the State of Alabama through legislative act. The pension board is responsible for the general administration and proper operation of the plan. The pension board also is responsible for making effective the provisions of the act.

"(b) Composition of pension board. The pension board is comprised of five members, designated respectively as member number one, member number two, member number three, member number four, and member number five.

"(1) MEMBER NUMBER ONE. Member number one shall be appointed by the governing body of the county and shall serve as chairman of the pension board. Member number one shall have a minimum of 10 years' experience in an executive capacity in insurance, investment management/consultant, or actuarial work. The initial term of member number one shall be for one year; and thereafter the term of member number one shall be for three years.

"(2) MEMBER NUMBER TWO. Member number two shall be appointed by the judge of probate, who is an elected official of the county. Member number two shall have a minimum of 10 years' experience in an executive capacity in investing or banking. The initial term of member number two shall expire at the end of two years; and thereafter the term of member number two shall be for three years.

"(3) MEMBER NUMBER THREE. Member number three shall be elected by the Jefferson County Personnel Board. The initial term of member number three shall expire at the end of three years; and the term of member number three shall be for three years.

"(4) MEMBERS NUMBER FOUR and FIVE. Member number four and member number five shall be elected by the active and retired members of the system. Member number four shall be a retired member of the system. The initial term of member number four shall be for one year; and thereafter the term of member number four shall be for three years. Member number five shall be elected for terms of three years.

"(c) Procedure for the election of board members four and five and selection of the election board.

"(1) Elections of member number four and member number five shall be conducted by separate ballot.

"(2) The active and retired members of the system shall elect member number four and member number five. The election shall be held at the annual meeting of the members of the system provided for in Section 45-37-123.22(b)(14), or at a special meeting called for that purpose; provided that there shall be no such election at a special meeting unless the pension board has given at least 15 days' written notice of the time and place of the election by posting the same in at least three prominent places in the county courthouse and by delivering three copies of the same to each elected official of the county to enable these officials to inform their employees of the election; however, the failure of any elected official to inform his or her employees of the election shall not invalidate the election.

"(3) The elections of member number four and member number five shall be supervised by three active members of the system serving as the election board. The members that serve as the election board shall be appointed by the active members and retired members at the annual meeting as provided for in Section 45-37-123.22(b)(14). If the active members and retired members fail to appoint members to the election board, the pension board shall appoint the members of the election board. The pension board shall have the authority to prescribe additional rules and regulations for the elections of member number four and member number five not inconsistent with the provisions hereof.

"(d) Vacancy, how filled. If a vacancy occurs on the pension board, such vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.

"(e) Resignation or removal of pension board member. A member of the pension board may resign by delivering a written resignation to the pension board or be removed by the pension board by delivery of written notice of removal, to take effect at a date specified therein, or upon delivery to the pension board if no date is specified.

"(f) Secretary. The secretary of the board shall be the director of personnel of the county, or his or her designated agent; however, in the event that the director of personnel fails to act as secretary and fails to appoint an agent to serve such role, then the pension coordinator shall serve as the secretary.

"(g) Salary and expenses. The members of the pension board and the secretary shall serve without pay, but shall be reimbursed for expenses actually paid or incurred in the discharge of their official duties, and shall suffer no loss of salary or wages, if employed by the county, through service on the board or as secretary thereof."

Section 2. This act shall become effective immediately following its passage and approval by the Governor, or its otherwise becoming law.

Jefferson County

Retirement

Counties

Acts Amended

Code Amended