HB 635 amends Chapter 11 of Title 47, so as to increase the number of years of mandatory contribution to the Probate Courts Retirement Fund, and the maximum number of years used to calculate benefits, from 20 to 30 years. 

      The bill adds a new Code Section 47-11-43 providing for application and payment of funds.  Members active on July 1, 2016, may obtain creditable service for any service in excess of 20 years as judge of the probate court, employee of the board, or secretary-treasurer, but not more than the actual number of years of service or 30 years, whichever is less. The member is required to complete a board approved application and pay an amount the board deems appropriate to cover the full actuarial cost of granting creditable service. The application must be received by December 31, 2016.

      Revisions to Code Section 47-11-71 include the expansion of the service requirement for those eligible upon retirement to receive the maximum retirement benefits from 20 years to 30 years. It further specifies the manner in which such benefits shall be calculated based on this new increase in years requirement.