The Retirement Systems of AlabamaWe are the safe keepers of pensions for thousands of Alabamians and we take our jobs seriously. It is our goal to seek and secure the best investments and services for our membership, and to ensure that we do everything possible to help our members prepare for and enjoy a successful retirement.
How will the CARES Act and SECURE Act affect my RSA-1 Deferred Compensation Plan Required Minimum Distribution (RMD)?
The CARES Act was passed by Congress March 25, 2020, and the SECURE Act December 20, 2019. Both include reforms affecting RMD’s. This brief article will give you valuable information on how they may affect your RSA_1 RMDs.Read more
The deadline to file an Application for Retirement is 30 to 90 days prior to the retirement date, as required by the Code of Alabama, 1975. If you are unable to have your document notarized, or if your employer is unable to complete their portion due to the COVID-19 closures, you should still submit your signed Application for Retirement to the RSA 30 to 90 days prior to the retirement date.Read more
Humana has announced a series of steps aimed at protecting our members and reducing the spread of the new coronavirus disease, or COVID-19. Please view the Expanded Coverage and Benefits for up-to-date information.Read more
Effective for those retiring on or after October 1, 2019. At retirement, in addition to selecting Options 1, 2, 3, or 4, you may also elect to receive a one-time lump-sum distribution (cash payment) in addition to your monthly retirement benefit.Read more
Act 2019-132 (the “Act”) allows local employers that participate in the Employees’ Retirement System (“ERS”) to provide Tier I retirement benefits to their Tier II members.Read more