HB 531 - Teachers Retirement; creditable service; certain county service

Georgia House of Representatives - 1995/1996 Sessions

HB 531 - Teachers Retirement; creditable service; certain county service

Page Numbers - 1/ 2
Code Sections - 47-3-92
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House Comm: Ret / Senate Comm: / House Vote: Yeas Nays Senate Vote: Yeas Nays ---------------------------------------- House Action Senate ---------------------------------------- 2/1/95 Read 1st Time 2/2/95 Read 2nd Time ---------------------------------------- Code Sections amended:
HB 531 LC 21 3051 A BILL TO BE ENTITLED AN ACT 1- 1 To amend Article 5 of Chapter 3 of Title 47 of the Official 1- 2 Code of Georgia Annotated, relating to service creditable 1- 3 toward retirement benefits under the Teachers Retirement 1- 4 System of Georgia, so as to provide that any member of the 1- 5 Teachers Retirement System of Georgia may obtain creditable 1- 6 service for prior service with certain programs relating to 1- 7 early childhood development; to provide conditions relative 1- 8 to obtaining such creditable service; to provide conditions 1- 9 for an effective date and automatic repeal; to repeal 1-10 conflicting laws; and for other purposes. 1-11 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: SECTION 1. 1-12 Article 5 of Chapter 3 of Title 47 of the Official Code of 1-13 Georgia Annotated, relating to service creditable toward 1-14 retirement benefits under the Teachers Retirement System of 1-15 Georgia, is amended by inserting at the end thereof the 1-16 following: 1-17 "47-3-92. (Index) 1-18 (a) Any member may, subject to the requirements of 1-19 subsection (b) of this Code section, obtain creditable 1-20 service under the retirement system for any period between 1-21 January 1, 1977, and December 31, 1979, during which the 1-22 member was employed by a county governing authority in a 1-23 program wholly or partially funded by a federal grant and 1-24 which had as its purpose facilitating early childhood 1-25 development and during which period the member held a 1-26 four-year degree from an accredited college or university. 1-27 (b) A member who desires to establish creditable service 1-28 under this Code section must: 1-29 (1) Submit to the board not later than July 1, 1997, 1-30 satisfactory evidence of the period of absence from 1-31 employment which qualifies for creditable service under 1-32 this Code section; and -1- (Index) LC 21 3051 2- 1 (2) Pay to the board an amount determined by the board 2- 2 to be sufficient to cover the full actuarial cost of 2- 3 granting the creditable service claimed by the member." SECTION 2. 2- 4 This Act shall become effective on July 1, 1996, only if 2- 5 it is determined to have been concurrently funded as 2- 6 provided in Chapter 20 of Title 47 of the Official Code of 2- 7 Georgia Annotated, the "Public Retirement Systems 2- 8 Standards Law"; otherwise, this Act shall not become 2- 9 effective and shall be automatically repealed in its 2-10 entirety on July 1, 1996, as required by subsection (a) of 2-11 Code Section 47-20-50. SECTION 3. 2-12 All laws and parts of laws in conflict with this Act are 2-13 repealed. -2- (Index)

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