Bill > SB244

This bill creates a new crime called "aggravated theft of employee retirement benefits" in Alabama, which occurs when someone embezzles, steals, or unlawfully converts monies, funds, or assets from employee retirement benefit plans. The bill specifically covers retirement plans administered by the Retirement Systems of Alabama, including systems for teachers, employees, and judges. The crime is classified as a Class C felony, with a maximum probation period of 10 years. An important defense is available if the person acted in good faith under the direction of someone in a position of authority. The statute of limitations for prosecuting this crime does not start until the theft is discovered, and then prosecution must begin within six years. Notably, a conviction for this crime can be treated as a Class A or B felony for certain legal purposes. The law is set to take effect on October 1, 2025, providing a clear timeline for implementation and giving relevant parties time to prepare for the new legal standard.

Justice

https://alison.legislature.state.al.us/bill-search