Vote Smart's Synopsis:

Vote to adopt a conference report that prohibits new participation in, and limits interest paid on accounts regarding, the Deferred Retirement Option Plan.

Highlights:

• Limits the requirements to qualify for the Deferred Retirement Option Plan (DROP) as followed, but not limited to (Sec. 1):
• Has at least 25 years of service excluding sick leave;
• Is at least 55 years of age; and
• Is eligible for service retirement.

• Specifies that participation in DROP shall not affect sick leave or yearly accrual increments (Sec. 1).

• Specifies that DROP can be used by qualified candidates in lieu of immediate withdrawal from service and receipt of a retirement allowance (Sec. 1).

• Establishes the "Keeping Alabama's Best" Joint Interim Legislative Committee (Sec. 2).

Full Bill Text

Vote Smart's Synopsis:

Vote to adopt a conference report that prohibits new participation in, and limits interest paid on accounts regarding, the Deferred Retirement Option Plan.

Highlights:

• Limits the requirements to qualify for the Deferred Retirement Option Plan (DROP) as followed, but not limited to (Sec. 1):
• Has at least 25 years of service excluding sick leave;
• Is at least 55 years of age; and
• Is eligible for service retirement.

• Specifies that participation in DROP shall not affect sick leave or yearly accrual increments (Sec. 1).

• Specifies that DROP can be used by qualified candidates in lieu of immediate withdrawal from service and receipt of a retirement allowance (Sec. 1).

• Establishes the "Keeping Alabama's Best" Joint Interim Legislative Committee (Sec. 2).

Full Bill Text