§ 16-25-153 — Incentives for Participation in Plan

Alabama § 16-25-153

• Jurisdiction: Alabama
• Title 16: Education
• Ch. 25: Teachers’ Retirement System
• Art. 9: Deferred Retirement Option Plan for Education Employees

Text

Notwithstanding the foregoing provisions of this article or any other laws to the contrary, no employer whose employees are covered under the Teachers’ Retirement System shall offer any incentives of value including, but not limited to, monetary payments, prepayment of health insurance, or extraordinary payments for accrued leave, contingent on the member applying for or electing to participate in DROP. This provision shall not apply to regular payments for leave or contributions toward health insurance, but shall serve to prevent any extraordinary benefits or incentives offered during a limited time period solely for the purpose of enticing employees to elect to participate in DROP.

Legislative History

(Act 2002-23, p. 31, §3.)