reglab/statecodes huggingface dataset:
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 2 - RESTRICTIONS AND PROHIBITIONS ON MEMBERSHIP IN PUBLIC RETIREMENT OR PENSION SYSTEMS (§§ 47-1-20 — 47-1-25) › Section 47-1-22.1 - Rights and benefits of employees convicted of drug related crimes

(a)
Except as otherwise provided in this subsection, this Code section shall not apply to any public employee in service on July 1, 1990, and shall apply only to those public employees entering public service after July 1, 1990. A public employee in service on July 1, 1990, who ceases to be a public employee and terminates his or her membership in a public retirement system after that date and who subsequently again becomes a public employee shall be subject to the provisions of this Code section, beginning with the date of such subsequent employment. Any person who was a public employee prior to July 1, 1990, and who ceased to be a public employee and terminated his or her membership in a public retirement system prior to that date shall be subject to the provisions of this Code section if such person again becomes a public employee after July 1, 1990, beginning with the date of such subsequent employment.
(b)
If a public employee who is not vested under a public retirement system commits a drug related crime and is convicted for the commission of such crime, such public employee shall forfeit all rights and benefits under and membership in the public retirement system in which the employee is not a vested member, effective on the date of final conviction. Any such public employee shall not at any time after such final conviction be eligible for membership in any public retirement system. Any employee contributions made by any such public employee to any public retirement system in which the employee is not a vested member shall be reimbursed, without interest, to the public employee within 60 days after the date of final conviction for the commission of the drug related crime.
(c)
If a public employee who is vested under a public retirement system commits a drug related crime, such employee's active membership in any public retirement system shall terminate on the date of final conviction and such employee shall not at any time thereafter be eligible for active membership in any public retirement system. For any such public employee, the right to any benefit or any other right under any public retirement system in which the employee is a vested member shall be determined as of the date of final conviction.
(d)
The provisions of Code Section
47-1-23
shall apply to a public employee charged with the commission of a drug related crime in the same manner that they apply to a public employee charged with the commission of a public employment related crime.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 2 - RESTRICTIONS AND PROHIBITIONS ON MEMBERSHIP IN PUBLIC RETIREMENT OR PENSION SYSTEMS (§§ 47-1-20 — 47-1-25) › Section 47-1-22.2 - Notification to public retirement system of conviction for public employment related crime

Upon the final conviction of any person for a public employment related crime, the prosecuting attorney shall so notify the defendant's former public employer and any public retirement system in which he or she knows the convicted public employee to be an active, inactive, or retired member. Upon such notification, the public employer shall also notify any such public retirement system.
Added by 2008 Ga. Laws 414,§ 4, eff. 7/1/2008.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 2 - RESTRICTIONS AND PROHIBITIONS ON MEMBERSHIP IN PUBLIC RETIREMENT OR PENSION SYSTEMS (§§ 47-1-20 — 47-1-25) › Section 47-1-23 - Rights of public employee charged with committing public employment related crime

Nothing in this article shall be construed to create a right for any public employee who is charged with the commission of a public employment related crime to remain a public employee or a member of a public retirement system until such employee is finally convicted for the commission of such crime. Nothing in this article shall be construed to create a right for a public employee who is charged with the commission of a public employment related crime to accrue rights or benefits under a public retirement system after the date any such employee ceases to be a member of such public retirement system.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 2 - RESTRICTIONS AND PROHIBITIONS ON MEMBERSHIP IN PUBLIC RETIREMENT OR PENSION SYSTEMS (§§ 47-1-20 — 47-1-25) › Section 47-1-24 - Benefits denied to beneficiary who murders or commits voluntary manslaughter of member of public retirement system

No person who commits or conspires to commit the murder or voluntary manslaughter of a member, retiree, or beneficiary under a public retirement system shall receive any refund of contributions or any benefit under the public retirement system upon the death of the member, retiree, or beneficiary, even though the person so killing or conspiring is a named beneficiary for such refund of contributions or benefit. A plea of guilty or a judicial finding of guilt which is not reversed or otherwise set aside as to any such crime shall be prima-facie evidence of guilt for the purpose of applying the provisions of this Code section. All rights, interests, and entitlements to any such refund of contributions or benefit shall go to the secondary beneficiary designated by the member, retiree, or beneficiary, if a secondary beneficiary is designated and is living, upon the death of the member, retiree, or beneficiary, but otherwise to the member's, retiree's, or beneficiary's estate.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 2 - RESTRICTIONS AND PROHIBITIONS ON MEMBERSHIP IN PUBLIC RETIREMENT OR PENSION SYSTEMS (§§ 47-1-20 — 47-1-25) › Section 47-1-25 - Determination of economic impact of public employment related crime

Within 30 days following the day the board of trustees receives notice that a member of the retirement system has been convicted of a public employment related crime, the board shall initiate proceedings in the Office of State Administrative Hearings, under the provisions of Article 2 of Chapter 13 of Title 50, to determine the economic impact of the public employment related crime. Such matter shall be deemed to be a contested case within the meaning of such article. The Department of Law shall represent the board of trustees in such proceedings. The decision of the administrative law judge shall be final unless appeal is made as otherwise provided by law.
Amended by 2009 Ga. Laws 92,§ 1, eff. 4/30/2009.
Added by 2008 Ga. Laws 414,§ 5, eff. 7/1/2008.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 3 - INCREASE OF BENEFITS TO OFFSET TAXES (§§ 47-1-30 — 47-1-31) › Section 47-1-30 - Authority to increase benefits

(a)
As used in this Code section, the term:
(1)
"Board of trustees" means the board of trustees or other fiscal authority or governing body, by whatever name designated, of a retirement system.
(2)
"Retirement system" means a retirement or pension system or fund created by or pursuant to the authority of Georgia law which was listed in paragraph (4) of subsection (a) of Code Section
48-7-27
on January 1, 1989.
(b)
The board of trustees of a retirement system is authorized to increase benefits paid to both present and future retirees and beneficiaries under the retirement system to offset, wholly or partially, the taxation of retirement benefits pursuant to the provisions of Chapter 7 of Title 48, relating to Georgia income taxes, provided that any increase in benefits granted pursuant to the authority of this subsection:
(1)
Shall not apply to any portion of a benefit which exceeds $37,500.00 on the date the benefit increase is granted; and
(2)
Shall be consistent with maintaining the actuarial soundness of the retirement system in conformity with minimum funding requirements of Code Section
47-20-10
.
(c)
The provisions of this Code section are in addition to any powers possessed by a board of trustees pursuant to the provisions of any other law.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 3 - INCREASE OF BENEFITS TO OFFSET TAXES (§§ 47-1-30 — 47-1-31) › Section 47-1-31 - Discretionary postretirement benefit increases subject to reduction by subsequent legislation

Any other provision of this title to the contrary notwithstanding, any discretionary postretirement benefit increase granted on or after July 1, 1993, by the board of trustees of any public retirement system pursuant to the authority to grant such increases within the limits of actuarial soundness granted by general law shall be subject to reduction by subsequent legislation and shall not be considered an element of any contract of employment.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 4 - CREDITABLE SERVICE DURING TEMPORARY DISABILITY (§§ 47-1-40 — 47-1-43) › Section 47-1-40 - Definitions

As used in this article, the term:
(1)
"Public employee" means an active member of a retirement system defined in paragraph (2) of this Code section.
(2)
"Retirement system" means:
(A)
The Employees' Retirement System of Georgia provided for in Chapter 2 of this title;
(B)
The Teachers Retirement System of Georgia provided for in Chapter 3 of this title; and
(C)
The Public School Employees Retirement System provided for in Chapter 4 of this title.
(3)
"Temporary disability" means a physical or mental illness, sickness, or disorder caused by job-related disease or accident which causes a public employee to cease receiving compensation as an active public employee to the extent that the employee loses all or a portion of the period of temporary disability as creditable service under the employee's respective retirement system, but the term does not include any period of disability during which the employee qualifies for a disability benefit under the respective retirement system or any period of disability for which the employee may receive creditable service under the provisions of the employee's respective retirement system.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 4 - CREDITABLE SERVICE DURING TEMPORARY DISABILITY (§§ 47-1-40 — 47-1-43) › Section 47-1-41 - Employees authorized to receive creditable service for period of temporary disability; application for creditable service; payment of employee contributions during period

A public employee may receive creditable service under the public employee's respective retirement system for a maximum of 12 months of temporary disability. A public employee wishing to obtain such creditable service shall apply to the board of trustees or other official or body administering the respective retirement system within not more than six months after returning to service immediately following the temporary disability. The public employee shall be required to pay the employee contributions that would have been paid during the period of temporary disability which is claimed for creditable service plus regular interest, as determined by the respective board of trustees or other official or body administering the respective retirement system, compounded from the period of disability for which creditable service is claimed to the date of payment. Such employee contribution shall be based on the compensation the public employee was receiving for employee contribution purposes immediately prior to becoming temporarily disabled.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 4 - CREDITABLE SERVICE DURING TEMPORARY DISABILITY (§§ 47-1-40 — 47-1-43) › Section 47-1-42 - Use of other provisions of article not precluded

Obtaining creditable service pursuant to the provisions of this article shall not preclude the use of the provisions of this article to obtain creditable service for another future temporary disability, provided that there is a period of at least five years of active service as a contributing member of the respective retirement system between any claims for creditable service under this article.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 4 - CREDITABLE SERVICE DURING TEMPORARY DISABILITY (§§ 47-1-40 — 47-1-43) › Section 47-1-43 - Applicability of article; proof of temporary disability

The provisions of this article shall apply to periods of temporary disability which occurred prior to July 1, 1994, as well as those which occur on or after that date. The boards of trustees or other officials or bodies administering retirement systems may by rule or regulation require such proof of temporary disability and other documentation as may be reasonably necessary to carry out the provisions of this article.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 5 - ESTABLISHING CREDITABLE SERVICE BY VETERANS (§§ 47-1-60 — 47-1-62) › Section 47-1-60 - [See Note] Definitions (§ 47-1-60) › 1

As used in this article, the term:
(1)
"Creditable service" means service with a public retirement system or fund used in the same manner as actual service in the computation of all rights and benefits.
(2)
"Public retirement system or fund" means a public retirement system or fund created by this title.
(3)
"Qualified returning veteran" or "returning veteran" means a member of a public retirement system or fund whose employment which qualified him or her for such membership was interrupted by a period of qualified service and who returns to such employment in a manner sufficient to protect his or her reemployment rights as prescribed by Public Law 103-353, the federal Uniformed Services Employment and Reemployment Rights Act.
(4)
"Qualified service" means voluntary or involuntary service with one of the uniformed services, including active duty, active duty for training, initial active duty for training, inactive duty training, full-time National Guard duty, and any period during which a member is absent from employment for the purpose of an examination to determine his or her fitness to perform such duty.
(5)
"Uniformed services" means the United States Army, Army Reserve, Army National Guard, Navy, Navy Reserve, Marine Corps, Air Force, Air Force Reserve, Air National Guard, Coast Guard, the commissioned corps of the Public Health Service, and any other category of persons designated by the President of the United States in time of war or emergency.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 5 - ESTABLISHING CREDITABLE SERVICE BY VETERANS (§§ 47-1-60 — 47-1-62) › Section 47-1-60 - [See Note] Definitions (§ 47-1-60) › 2

As used in this article, the term:
(1)
"Creditable service" means service with a public retirement system or fund used in the same manner as actual service in the computation of all rights and benefits.
(2)
"Public retirement system or fund" means a public retirement system or fund created by this title.
(3)
"Qualified returning veteran" or "returning veteran" means a member of a public retirement system or fund whose employment which qualified him or her for such membership was interrupted by a period of qualified service and who returns to such employment in a manner sufficient to protect his or her reemployment rights as prescribed by Public Law 103-353, the federal Uniformed Services Employment and Reemployment Rights Act.
(4)
"Qualified service" means voluntary or involuntary service with one of the uniformed services, including active duty, active duty for training, initial active duty for training, inactive duty training, full-time National Guard duty, and any period during which a member is absent from employment for the purpose of an examination to determine his or her fitness to perform such duty.
(5)
"Uniformed services" means the United States Army, Army Reserve, Army National Guard, Navy, Navy Reserve, Marine Corps, Marine Corps Reserve, Air Force, Air Force Reserve, Space Force, Air National Guard, Coast Guard, the commissioned corps of the Public Health Service, and any other category of persons designated by the President of the United States in time of war or emergency.
Amended by 2024 Ga. Laws 391,§ 1, eff. 7/1/2024, only if it is determined to have been concurrently funded.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 5 - ESTABLISHING CREDITABLE SERVICE BY VETERANS (§§ 47-1-60 — 47-1-62) › Section 47-1-61 - Eligibility of veteran to establish creditable service; period of qualified service

Any qualified returning veteran shall be eligible to establish creditable service with his or her retirement system or fund for not more than five years of qualified service by complying with the provisions of this article; provided, however, that such five-year period shall be extended by any period of mandatory service imposed by the uniformed service recognized by paragraph (4) of subsection (C) of Section 4312 of federal Public Law 103-353, the Uniformed Service Employment and Reemployment Rights Act of 1994. Notwithstanding any provisions of the law to the contrary, contributions, benefits, and service credits with respect to qualified uniformed service will be provided under each retirement or pension system in accordance with Section 414(u) of the federal Internal Revenue Code.
Amended by 2005 Ga. Laws 103,§ 1, eff. 7/1/2005.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 6 - CONFORMANCE WITH INTERNAL REVENUE CODE PROVISIONS (§§ 47-1-80 — 47-1-86) › Section 47-1-80 - Distributions to conform to regulations issued under the Internal Revenue Code

Notwithstanding any other provision of this title to the contrary, distributions from any public retirement or pension system shall conform to a good-faith interpretation of Section 401(a)(9) of the federal Internal Revenue Code and the regulations promulgated pursuant to such section as applicable to a governmental plan within the meaning of Section 414(d) of the federal Internal Revenue Code and shall be implemented in accordance with the grandfathering provisions of such regulations applicable to annuity option distributions in effect on April 17, 2001.
Amended by 2009 Ga. Laws 275,§ 4, eff. 5/11/2009.
Added by 2005 Ga. Laws 103,§ 2, eff. 7/1/2005.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 6 - CONFORMANCE WITH INTERNAL REVENUE CODE PROVISIONS (§§ 47-1-80 — 47-1-86) › Section 47-1-82 - Maximum annual additions and maximum benefit payable limited to that allowed by federal law

Notwithstanding any other provisions of this title to the contrary, the maximum annual additions and maximum benefit payable to any active or retired member or beneficiary of a public retirement or pension system subject to this title shall be limited to such extent as may be necessary to conform to the requirements of subsections (b) and (c) of Section 415 of the federal Internal Revenue Code for a qualified retirement plan.
Amended by 2014 Ga. Laws 521,§ 1, eff. 7/1/2014.
Amended by 2010 Ga. Laws 681,§ 64, eff. 7/1/2010.
Amended by 2010 Ga. Laws 457,§ 3, eff. 5/24/2010.
Amended by 2009 Ga. Laws 275,§ 7, eff. 5/11/2009.
Amended by 2005 Ga. Laws 103,§ 2, eff. 7/1/2005.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 6 - CONFORMANCE WITH INTERNAL REVENUE CODE PROVISIONS (§§ 47-1-80 — 47-1-86) › Section 47-1-83 - Vesting of member's accrued benefit as of date of termination or partial termination of public retirement or pension system

In accordance with subsection (a) of the federal Treasury Regulation Section 1.401-6, in the event of a termination or partial termination of a public retirement or pension system, a member's accrued benefit as of the date of such termination or partial termination, to the extent then funded, shall be nonforfeitable and fully vested under federal Internal Revenue Code requirements.
Amended by 2014 Ga. Laws 521,§ 2, eff. 7/1/2014.
Added by 2009 Ga. Laws 275,§ 8, eff. 5/11/2009.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 6 - CONFORMANCE WITH INTERNAL REVENUE CODE PROVISIONS (§§ 47-1-80 — 47-1-86) › Section 47-1-84 - Modifications by board of trustees

(a)
Notwithstanding any other provision of this title to the contrary, the board of trustees of a retirement or pension system may modify a request by a plan member to make a contribution to the public retirement or pension system if the amount of the contribution would exceed the limits provided under Section 415 of the federal Internal Revenue Code by using the following methods:
(1)
If the law requires a lump sum payment for the purchase of service credit, the board of trustees may establish a periodic payment plan for the plan member to avoid a contribution in excess of the limits under Section 415(c) or 415(n) of the federal Internal Revenue Code; and
(2)
If the payment plan pursuant to paragraph (1) of this subsection will not avoid a contribution in excess of the limits, the board of trustees may refuse the plan member's contribution.
(b)
For any plan member who first became a plan member in the public retirement or pension system before January 1, 1998, the limitation of Section 415(c)(1) of the federal Internal Revenue Code shall not be applied to reduce the amount of permissive service credit which may be purchased to an amount less than the amount which was allowed to be purchased under state law on August 5, 1997.
Added by 2009 Ga. Laws 275,§ 8, eff. 5/11/2009.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 6 - CONFORMANCE WITH INTERNAL REVENUE CODE PROVISIONS (§§ 47-1-80 — 47-1-86) › Section 47-1-85 - Assets of public retirement or pension system to be held in trust

(a)
The assets of a public retirement or pension system shall be held in trust, and it shall not be possible at the time prior to satisfaction of all liabilities to plan members and their beneficiaries under the public retirement or pension system for any part of said assets to be used for, or diverted to, purposes other than for the exclusive benefit of plan members and their designated beneficiaries and for paying reasonable expenses of the public retirement or pension system and trust fund.
(b)
The board of trustees of a public retirement or pension system shall not engage in a transaction prohibited by Section 503(b) of the federal Internal Revenue Code.
Added by 2009 Ga. Laws 275,§ 8, eff. 5/11/2009.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 1 - GENERAL PROVISIONS (§§ 47-1-1 — 47-1-86) › Article 6 - CONFORMANCE WITH INTERNAL REVENUE CODE PROVISIONS (§§ 47-1-80 — 47-1-86) › Section 47-1-86 - Adopted plan document or rules and regulations govern

Any other provision of this chapter to the contrary notwithstanding, to the extent that the Board of Trustees of the Georgia Municipal Employees Benefit System created by Chapter 5 of this title has adopted a plan document or rules and regulations that are in compliance with Sections 401(a) and 414(d) and other applicable sections of the federal Internal Revenue Code, such plan document or rules and regulations shall govern such system notwithstanding any conflicting provision in this chapter; provided, however, that the provisions of Code Section
47-1-13
shall in any event apply to said system.
Added by 2009 Ga. Laws 275,§ 8, eff. 5/11/2009.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-20 - Creation of retirement system; purpose, management, corporate powers and privileges, and certain rights in actions at law of retirement system; name under which retirement system to transact business

A retirement system is established and placed under the management of the board of trustees for the purpose of providing retirement allowances and other benefits under this chapter for employees of the state and political subdivisions thereof. It shall have the powers and privileges of a corporation and the right to bring and defend actions and to implead and be impleaded. It shall be known as the "Employees' Retirement System of Georgia," and by such name all of its business shall be transacted, all of its funds invested, and all of its cash and securities and other property held.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-22 - Election of chairperson and director; actuarial services; application of state system of personnel administration; payment of costs of personnel administration

(a)
The board of trustees shall elect a chairperson from its membership and shall employ a director who shall not be a trustee.
(b)
The board of trustees shall engage such actuarial and other services as shall be required to transact the business of the retirement system.
(c)
The director and all other employees of the board of trustees shall be governed by such rules of position, classification, appointment, promotion, demotion, dismissal, transfer, qualification, compensation, seniority, privileges, tenure, and other employment standards as may now or hereafter be established under the state system of personnel administration provided for by Chapter 20 of Title 45, including the rules and regulations promulgated by the State Personnel Board.
(d)
The board of trustees shall pay its share of the administrative costs of operating the state system of personnel administration in the manner prescribed in Code Section
45-20-4
.
Amended by 2012 Ga. Laws 629,§ 5, eff. 7/1/2012.
Amended by 2009 Ga. Laws 156,§ 1, eff. 7/1/2009.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-23 - Treasurer of the board of trustees; manner of payment of funds of the retirement system; surety bond for the treasurer

There shall be a treasurer of the board of trustees, who shall be appointed by it and subject to its rules and regulations. He shall be the treasurer of the assets of the retirement system. Payments of the funds of the retirement system shall be made by the treasurer only upon vouchers signed by the treasurer and countersigned by one other person designated by the board of trustees. The treasurer of the board of trustees shall furnish to the board of trustees a surety bond of a company authorized to do business in this state in such an amount as shall be required by the board of trustees, provided that if the treasurer is a corporate trustee authorized to do business as such under the laws of this state, the trustees, in their discretion, may decide that no such bond be furnished. The premium on the surety bond shall be paid from the expense fund.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-24 - Designation of medical board; duties

The board of trustees shall designate a medical board of three physicians who are not eligible to participate in the retirement system. If required, other physicians may be employed to report on special cases. The medical board shall arrange for and pass upon all medical examinations required under this chapter and shall report in writing to the board of trustees its conclusions and recommendations upon all the matters referred to it.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-25 - Legal adviser of the board of trustees

The Attorney General shall be the legal adviser of the board of trustees.
Amended by 2010 Ga. Laws 681,§ 65, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-26 - Designation of an actuary; duties of actuary; annual valuation of contingent assets and liabilities of the retirement system

(a)
The board of trustees shall designate an actuary who shall be its technical adviser on matters regarding the operation of the funds created under this chapter and who shall perform such duties as are required in that regard.
(b)
At least every five years, the actuary shall conduct an actuarial investigation into the mortality, service, and compensation experience of the members and beneficiaries of the retirement system and shall recommend for adoption by the board of trustees mortality, service, and other tables needed in the operation of the system. Taking into account the results of such investigations, the board of trustees shall from time to time adopt for the retirement system such mortality, service, and other tables as it shall deem necessary for use in all calculations required in connection with this retirement system. The board of trustees shall also determine from time to time the rate of regular interest to be used by the retirement system, which rate shall be limited to a minimum of 2 percent.
(c)
On the basis of the rate of regular interest and the tables last adopted by the board of trustees, the actuary shall make annual valuations of the contingent assets and liabilities of the retirement system.
Amended by 2010 Ga. Laws 681,§ 65, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-27 - Duty of board of trustees to keep data necessary for actuarial valuations; duty to keep records of proceedings; annual report

(a)
The board of trustees shall keep in convenient form such data as shall be necessary for actuarial valuations of the various funds of the retirement system and for checking the experience of the retirement system.
(b)
The board of trustees shall keep a record of all of its proceedings, which record shall be open to public inspection. It shall publish annually a report showing the fiscal transactions of the retirement system for the preceding year, the amount of the accumulated cash and securities of the retirement system, and the last balance sheet showing the financial condition of the retirement system by means of an actuarial valuation of the contingent assets and liabilities of the retirement system.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-28 - Simplified tables for estimation of retirement allowances; effect on existing rights and benefits; formula for calculating service retirement allowances

(a)
On and after April 1, 1964, the board of trustees is authorized to adopt simplified benefit tables which will enable a member to estimate his or her retirement allowances. Such tables shall (1) be based on an actuarial study, (2) maintain the actuarial soundness of the retirement system, (3) for those members retiring on and after April 1, 1968, be applied to the member's highest average monthly earnable compensation during a period of 24 consecutive calendar months while a member of the retirement system, and (4) be applicable to all members, provided that the application of such tables shall not reduce or impair the amount of any allowances or benefits to which any person who was a member on April 1, 1964, would have been entitled at that time or would be entitled at any time thereafter under tables or calculations which were in effect at that time or at any time prior thereto or at any time prior to the adoption of such simplified benefit tables.
(b)
The regular service retirement allowance payable to a member pursuant to the provisions of this chapter, prior to the application of any minimum benefit formula otherwise provided under this chapter, shall be determined pursuant to the formula adopted from time to time by the board of trustees for such purpose. Such formula shall be uniformly applicable to all members similarly situated. The board of trustees may establish rules and administrative procedures uniformly applicable to all members similarly situated relating to the calculation of such service retirement allowance.
Amended by 2010 Ga. Laws 681,§ 4, eff. 7/1/2010.
Amended by 2005 Ga. Laws 103,§ 5, eff. 7/1/2005.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-29 - Postretirement benefit adjustments

(a)
On a date to be established by the board of trustees, but not before April 1, 1967, the board of trustees is authorized to adopt a method of providing for postretirement benefit adjustments for the purpose of maintaining essentially no less purchasing power for a beneficiary in his postretirement years. Such method shall be based upon:
(1)
Recommendation of the actuary for the board of trustees;
(2)
Maintaining the actuarial soundness of the retirement system;
(3)
Its application to the retirement income of members retiring on or after the adoption of such method by the board of trustees; and
(4)
Any additional contribution by the member in an amount not to exceed one-fourth of 1 percent of his monthly earnable compensation.
This Code section shall also be applicable to those members retiring before April 1, 1967.
(b)
Notwithstanding any other provision of this Code section, no member who becomes a member of this retirement system on or after July 1, 2009, shall be entitled to receive any postretirement benefit adjustment.
Amended by 2010 Ga. Laws 681,§ 5, eff. 7/1/2010.
Amended by 2009 Ga. Laws 82,§ 2, eff. 7/1/2009.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-30 - Deposits of cash available for disbursements for benefits and other payments

For the purpose of meeting disbursements for pensions, annuities, and other payments, cash may be kept available on deposit in one or more banks or trust companies organized under the laws of this state or of the United States, provided that the sum on deposit in any one bank or trust company shall not exceed 25 percent of the paid up capital and surplus of each bank or trust company; and provided, further, that each bank or trust company shall either give a depository bond in an amount sufficient to cover the deposits or place in trust a sufficient amount of federal or state securities to cover the deposits.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-31 - Investment powers; power to employ agents as investment advisers and to make investments

(a)
The board of trustees shall be the trustees of the funds and shall have full power to invest and reinvest the assets of the retirement system and to purchase, hold, sell, assign, transfer, and dispose of any securities and other investments in which assets of the retirement system have been invested, any proceeds of any investments, and any money belonging to the retirement system; provided, however, that such power shall be subject to all terms, conditions, limitations, and restrictions imposed by Article 7 of Chapter 20 of this title, the "Public Retirement Systems Investment Authority Law."
(b)
The board of trustees is authorized to employ agents, including, but not limited to, banks or trust departments, and to contract with such agents for their services as investment advisers and counselors who will make recommendations for investments and make investments, if the board of trustees so authorizes.
Amended by 2006 Ga. Laws 454,§ 1, eff. 4/14/2006.
Amended by 2005 Ga. Laws 103,§ 6, eff. 7/1/2005.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-32 - Personal interest in gains or profits from investments made by the board of trustees; unauthorized use of assets of the retirement system

Except as otherwise provided in this chapter, no trustee or employee of the board of trustees shall have any personal interest in the gains or profits from any investment made by it or use in any manner, directly or indirectly, for himself or as an agent, the assets of the retirement system, except to make such payments as are authorized by the board of trustees in accordance with this chapter.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 2 - CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM (§§ 47-2-20 — 47-2-33) › Section 47-2-33 - Plan year designated

For purposes of complying with federal Internal Revenue Service rules and regulations, the plan year for this retirement system shall be the 12 month period beginning on July 1 of each year.
Added by 2009 Ga. Laws 275,§ 13, eff. 5/11/2009.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 3 - EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES (§§ 47-2-50 — 47-2-60) › Section 47-2-50 - Funds in which assets of the retirement system to be held

All the assets of the retirement system shall be credited, according to the purpose for which they are held, among three funds, to be known as the "annuity savings fund," the "pension accumulation fund," and the "expense fund."
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 3 - EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES (§§ 47-2-50 — 47-2-60) › Section 47-2-52 - Employer's duty to deduct and report employee contributions; duty of chief fiscal officer to remit employee contributions; effect of failure to comply

Each employer responsible for the payment of compensation to contributing members shall deduct and collect from each member's salary the employee contributions required under the retirement system and shall make a monthly report of such actions in such manner and form as are required by the chief fiscal officer of his employer. Such deductions may be made from future payments or reimbursement check to the employer. It shall be the duty of the chief fiscal officer of each employer to make monthly remittance of employees' contributions to the board of trustees. Should any employer fail to collect employee contributions or to make reports as required in this Code section, the appropriate employer shall withhold all funds allotted to such employer until he has fully complied with this Code section.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 3 - EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES (§§ 47-2-50 — 47-2-60) › Section 47-2-53 - Effect of failure of any employee, employer, or reporting official to make contributions or to make reports with respect to employment and membership

Any other provisions of law to the contrary notwithstanding, if any employee, his employer, or the designated reporting official fails to make such reports properly as are required under this chapter with respect to employment or membership or to make contributions, the board of trustees, after having exhausted all administrative efforts to obtain such reports or contributions, is authorized to and shall declare null and void any and all benefits which would have otherwise accrued to the employee if the proper reports and contributions had been made, provided that those contributions which had been previously credited to the individual's annuity savings fund shall be forthwith refunded. In addition, such individual shall no longer be a member nor henceforth be eligible for membership.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 3 - EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES (§§ 47-2-50 — 47-2-60) › Section 47-2-55 - Pension accumulation fund; purposes; employer contributions; crediting of interest and dividends earned on funds of the retirement system

The pension accumulation fund shall be the fund in which shall be held the reserves for all annuities in force and from which shall be paid all annuities and all benefits in lieu of annuities under this chapter. If a beneficiary is restored to membership, his or her annuity reserve shall be transferred from the pension accumulation fund to his or her individual account in the annuity savings fund. The pension accumulation fund shall also be the fund in which are accumulated all reserves for the payment of all pensions and other benefits payable from contributions made by employers and from which are paid all such pensions and other benefits. Employer contributions shall consist of a percentage of the earnable compensation of members, to be known as the "normal cost contribution," and an additional percentage of such earnable compensation, to be known as the "unfunded accrued liability contribution." These contributions shall be borne by appropriations from state and federal funds. The percentage rate of each portion of the employer contribution shall be fixed on the basis of the liabilities of the retirement system, as shown by actuarial valuation, as provided for in subsection (b) of Code Section
47-2-26
, subject to the provisions of Code Section
47-20-10
. All interest and dividends earned on the funds of the retirement system shall be credited to the pension accumulation fund. Once each year the board of trustees shall transfer from the pension accumulation fund to the annuity savings fund such amounts as are sufficient to allow regular interest on the balances of the individual accounts of members in the annuity savings fund.
Amended by 2006 Ga. Laws 454,§ 1, eff. 4/14/2006.
Amended by 2005 Ga. Laws 103,§ 7, eff. 7/1/2005.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 3 - EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES (§§ 47-2-50 — 47-2-60) › Section 47-2-56 - Maintenance of annuity and pension reserves and payment of benefits under this chapter as obligations of the pension accumulation fund; permissible uses of assets of the fund

The maintenance of annuity reserves and pension reserves, the crediting of regular interest to the annuity savings fund under Code Section
47-2-55
, and the payment of all pensions, annuities, retirement allowances, refunds, and other benefits granted under this chapter shall be obligations of the pension accumulation fund, except as provided in paragraph (3) of subsection (c) of Code Section
47-2-128
. All assets of the pension accumulation fund and all income, interest, and dividends derived from deposits and investments shall be used for the payment of such obligations and for no other purposes.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 3 - EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES (§§ 47-2-50 — 47-2-60) › Section 47-2-57 - Certification of normal cost and unfunded accrued liability contribution rates to employers; provision in employer's budget for employer contributions

On or before June 1 of each year, the normal cost and unfunded accrued liability contribution rates, as determined on the basis of the last actuarial valuation, shall be certified by the board of trustees to the director or chief administrative officer of each employer having members in its employ. Each such employer shall make provision in its annual budget for funds with which to pay to the board of trustees an amount equal to the normal cost contributions and the unfunded accrued liability contributions on the earnable compensation of all contributing members under their administration and for an additional amount as expense for the operation of the retirement system.
Amended by 2005 Ga. Laws 103,§ 8, eff. 7/1/2005.
2023 CODE OF GEORGIA › Title 47 - RETIREMENT AND PENSIONS (§§ 47-1-1 — 47-25-101) › Chapter 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA (§§ 47-2-1 — 47-2-360) › Article 3 - EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES (§§ 47-2-50 — 47-2-60) › Section 47-2-58 - [Repealed] Commencement date for contributions to retirement system

Repealed and reserved by 2010 Ga. Laws 681,§ 6, eff. 7/1/2010.