Teachers' Retirement System; officers and employees of Lauderdale County Teacher's Credit Union authorized to participate

HB 279 would allow the Lauderdale County Teacher's Credit Union to let its officers and full-time employees join Alabama's Teachers' Retirement System. The credit union's leadership must pass a resolution to authorize this, and the union would pay the employer portion of retirement contributions based on employee salaries. Employees could also earn credit for past service with the union, with the union covering any actuary-determined costs for that retroactive credit. This bill specifically affects Lauderdale County Teacher's Credit Union staff and takes effect June 1, 2025.