MONTGOMERY, AL (WSFA) - The Alabama Democratic Party is coming out against a plan by Republican legislators that would make changes to the two boards that oversee the Retirement Systems of Alabama: the Teachers' (TRS) and State Employees' (SERS) Retirement Systems.
WSFA 12 News reported on the possible changes Thursday.
EDITOR'S NOTE: The RSA is the primary financial lender to Raycom Media, the parent company of this television station.
"Apparently Republicans aren't happy just being in the majority, and they're setting their sights on politicizing the retirement system next," said Alabama Democratic Party Chairman Mark Kennedy. "Our state retirement system is among the best in the nation. Why strip the members paying into these systems of their ability to elect their representation on these boards?"
Democrats say the move is patently political and part of Republicans' "relentless attack on Alabama's public employees."
Republican Del Marsh said Wednesday that openness is an issue as the legislature can't require an audit of either board.
RSA handles investments worth more than $25 billion for more than 300,000 active and retired public employees.