GA Code § 47-2-128 (2021)
2021 Georgia Code|Title 47 - Retirement and Pensions|Chapter 2 - Employees' Retirement System of Georgia|Article 7 - Retirement Allowances, Disability Benefits, Spouses' Benefits|§ 47-2-128. Survivors Benefit Coverage; Fund; Contributions

  Wherever the term "survivors benefits" is used or referred to in this chapter, it shall be construed to be group term life insurance.   Pursuant to the provisions of this Code section, Code Section 47-2-129, and rules or regulations adopted for such purpose, the board of trustees may provide for survivors benefits for members, former members, and retired members of the retirement system.   Notwithstanding Article 3 of this chapter, there shall be established an additional fund, to be known as the "survivors benefit fund," which shall be administered in the following manner:   There shall be accumulated in the survivors benefit fund the contributions deducted from the earnable compensation of members covered for survivors benefits, together with payments made to the fund by employers, including interest earned on deposits and investments of such funds;   There shall also be accumulated in the survivors benefit fund the payments required of retired members and vested former members covered for survivors benefits as provided in subsections (g) and (h) of this Code section, together with interest earned on such payments; and   All assets of the survivors benefit fund and all income, interest, and dividends derived from deposits and investments shall be used for the payments of benefits and expenses necessary for the maintaining of survivors benefit coverage. Such benefits and expenses shall in no manner become an obligation of the pension accumulation fund.     Contributions for survivors benefits shall be provided for and administered in the following manner:   After notice from the board of trustees, each employer shall cause to be deducted from the earnable compensation of each member during every payroll period the additional amount established by the board of trustees, but not to exceed one-half of 1 percent of the member's earnable compensation. Such deductions shall be made under the same conditions as set forth in paragraph (2) of subsection (a) of Code Section 47-2-51 and, except for those members who are not eligible for survivors benefits, that amount shall be the member's payment for such coverage;   Any member who is not eligible for survivors benefits shall have the additional contributions provided for in paragraph (1) of this subsection credited to the member's annuity savings account to be used to purchase an additional annuity at retirement under the conditions set forth in paragraph (3) of subsection (a) of Code Section 47-2-51; and   There is authorized an employer payment to the fund which shall be a percentage of the earnable compensation of the members of the retirement system.The board of trustees shall establish the rate of such payment, but in no case shall such rate, when added to the members' contributions, exceed 1 percent.Funds for employer payment shall be requested in the same manner as provided in Code Section 47-2-57.     The board of trustees may adopt or rescind any rules or regulations which are not in conflict with this Code section and which it deems necessary in establishing and maintaining the plan of operation, including benefit tables and other provisions of coverage.Such rules and regulations shall include the following:   A member's payment for coverage shall vest in the member no rights other than for the period for which the member has paid the required additional contributions into the survivors benefit fund;   A notice by the board of trustees to members through their employers that the additional contributions provided for in this Code section will in the future be credited to the individual member's annuity savings account under conditions set forth in paragraph (3) of subsection (a) of Code Section 47-2-51 shall suspend any and all survivors benefit coverage then in effect, provided that such action shall be applicable to all members alike and without prejudice to any survivors benefits pending in the case of a then deceased member; and   Subsequent to any notice released under paragraph (2) of this subsection, any additional notice made in the same manner and within 12 months of the original notice to the effect that coverage is again available shall reestablish survivors benefits to those formerly covered and to all new members who are otherwise eligible, except that within 30 days from the date of such notice any member may decline benefits under this Code section.     The board of trustees may determine the date on which the plan for survivors benefit coverage shall be placed into operation, provided that such date shall not be prior to July 1, 1953. The board of trustees shall notify all employers who, in turn, shall notify the members that additional contributions will commence on the determined date.   Except as otherwise provided in subsection (i) of this Code section, in the event a member retires, the retired member shall continue paying the amount provided for under this Code section which the memberwas paying at the time of retirement; and the benefits provided for under this Code section shall remain fixed at the same amount as they would have been had the member died on the day immediately preceding the date of retirement.The board of trustees is authorized to promulgate rules and regulations to cover this subsection.   Any other provisions of this chapter or any rules or regulations to the contrary notwithstanding, any member who withdraws from service before attaining age 60 but whose right to a service retirement allowance has vested under Code Section 47-2-122 may continue paying the amount under this Code section which the member was paying at the time of withdrawing from service, together with the amount of the employer contribution in effect at the time of such withdrawal, in which case the benefits under this Code section shall remain fixed at the same amount as they would have been had the member died on the day immediately preceding the member's withdrawal. Only those members with at least 18 years of creditable service at the time of withdrawal from service shall be eligible under this subsection.The board of trustees is authorized to promulgate rules and regulations to cover this subsection.   As applied to those members whose first membership in the retirement system is on or after April 1, 1964, the survivors benefits program may provide for a reduction of benefits after the attainment of a certain age and for a different or no contribution after retirement based on such reduction in benefits.    (Ga. L. 1953, Jan.-Feb. Sess., p. 323, § 1; Ga. L. 1961, p. 158, §§ 1-3; Ga. L. 1964, p. 119, § 3; Ga. L. 1967, p. 751, §§ 5-7; Ga. L. 1976, p. 453, § 1; Ga. L. 1977, p. 670, § 1; Ga. L. 1979, p. 1259, § 1; Ga. L. 1990, p. 1263, § 1; Ga. L. 1993, p. 86, § 1.)   Law reviews.   - For article surveying recent legislative and judicial developments regarding Georgia's insurance laws, see 31 Mercer L. Rev. 117 (1979).   JUDICIAL DECISIONS    Cited in Ross v. Odom, 401 F.2d 464 (5th Cir. 1968); Cantrell v. Board of Trustees of Employees' Retirement Sys., 135 Ga. App. 445, 218 S.E.2d 97 (1975).   OPINIONS OF THE ATTORNEY GENERAL   Member may change life insurance beneficiaries at any time.   - Any member of the retirement system covered under the life insurance provisions has the right, under Ga. L. 1949, p. 138 et seq. (see O.C.G.A. Ch. 2, T. 47) and the terms of the member's policy, to change the member's beneficiaries at any time, assuming there is no judicial decision or statutory prohibition to the contrary. 1977 Op. Att'y Gen. No. 77-18.   Cannot change life insurance beneficiaries by will.   - Attempt by a member of the retirement system to change the member's beneficiary for the life insurance payment and the monthly retirement benefit by will is of no legal effect and should be considered a "mistake" in the construction of that provision of the will. 1974 Op. Att'y Gen. No. 74-92.   Appellate judges serving on April 1, 1964 continue contributing same amount.    - Justices on the Supreme Court of Georgia and Judges on the Court of Appeals of Georgia who were serving as appellate judges on April 1, 1964, are to be afforded group term life insurance protection (formerly survivor benefits) on the same basis as if the justice's had been members of the retirement system on January 1, 1953, or after, including the right to retain full life insurance coverage after retirement pursuant to the conditions in subsection (g) of this statute. 1977 Op. Att'y Gen. No. U77-20 (see O.C.G.A. § 47-2-128).