HB 749 - Fulton Co; school employees pension; minimum payment

Georgia House of Representatives - 1995/1996 Sessions

HB 749 - Fulton Co; school employees pension; minimum payment

Page Numbers - 1/ 2/ 3
Prev Bill Next Bill Bill Summary Bill List Disclaimer
1. Holmes  53rd

House Comm: LLeg / Ret Senate Comm: Ret / House Vote: Yeas 159 Nays 0 Senate Vote: Yeas 44 Nays 0 ---------------------------------------- House Action Senate ---------------------------------------- 2/15/95 Read 1st Time 1/11/96 2/16/95 Read 2nd Time 2/5/96 1/8/96 Favorably Reported 2/2/96 Sub Committee Amend/Sub 3/15/95 Recommitted 1/10/96 Read 3rd Time 2/7/96 1/10/96 Passed/Adopted 2/7/96 CS Comm/Floor Amend/Sub 3/19/96 Sent to Governor 3/25/96 Signed by Governor 584 Act/Veto Number W/F Effective Date ---------------------------------------- Withdrawn and Recommitted Code Sections amended:
HB 749 LC 21 3530S A BILL TO BE ENTITLED AN ACT 1- 1 To amend an Act entitled "An Act to Continue the Fulton 1- 2 County School Employees Pension Fund," approved April 5, 1- 3 1994 (Ga. L. 1994, p. 4706), so as to provide a minimum 1- 4 pension amount; to provide that spouses' benefits shall 1- 5 continue after the remarriage of the spouse; to change the 1- 6 definition of a year of service; to provide that there shall 1- 7 be no minimum retirement age; to provide conditions for an 1- 8 effective date and automatic repeal; to repeal conflicting 1- 9 laws; and for other purposes. 1-10 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: SECTION 1. 1-11 An Act entitled "An Act to Continue the Fulton County School 1-12 Employees Pension Fund," approved April 5, 1994 (Ga. L. 1-13 1994, p. 4706), is amended by striking in its entirety 1-14 Section 5E, relating to minimum pension benefits, and 1-15 inserting in lieu thereof the following: "SECTION 5E. 1-16 Minimum pension benefits. 1-17 Notwithstanding any other provision of this Act, any 1-18 person who was a pensioner on July 1, 1994, or who retires 1-19 after that date shall receive a pension in an amount not 1-20 less than a sum equal to $17.00 per month multiplied by 1-21 the number of the pensioner's years of creditable service, 1-22 not to exceed 40 years. The minimum pension which shall 1-23 be payable to the beneficiary of any such person shall be 1-24 70 percent of the pension received by such person. Any 1-25 cost of living adjustments due to any pensioner or 1-26 beneficiary shall be based on the pension he or she would 1-27 be entitled to receive under this Act without regard to 1-28 the provisions of this section, and no such increase shall 1-29 operate to increase the minimum pension guaranteed by this 1-30 section. The provisions of this section shall not apply 1-31 to any person who is receiving a pension under the 1-32 Teachers Retirement System of Georgia." -1- (Index) LC 21 3530S SECTION 2. 2- 1 Said Act is further amended by striking in its entirety 2- 2 Section 6B, relating to qualifications for spouses' 2- 3 benefits, and inserting in lieu thereof the following: "SECTION 6B. 2- 4 Qualification for spouse's pension. 2- 5 Notwithstanding any other provision of this Act, the 2- 6 spouse of a deceased member otherwise entitled to receive 2- 7 a pension, shall be entitled to a pension only if he or 2- 8 she was married to the deceased member prior to his or her 2- 9 retirement or for a period of five years prior to the time 2-10 when such member was entitled to retire. A pension 2-11 awarded to a spouse pursuant to this section shall 2-12 continue for the life of such spouse without regard to his 2-13 or her remarriage." SECTION 3. 2-14 Said Act is further amended by striking in its entirety 2-15 Section 29, relating to the computation of a year of 2-16 service, and inserting in lieu thereof the following: "SECTION 29. 2-17 Computation of years of service. 2-18 A year of service shall consist of the completion of nine 2-19 months of contract service during the period from July 1 2-20 through June 30 of any fiscal year; provided, however, 2-21 that no person shall receive more than one year of service 2-22 for all service rendered during such period. If an 2-23 employee renders less than nine months of service during 2-24 any such period, he or she shall receive credit for a 2-25 fraction of a year computed by dividing the number of 2-26 months of service by nine months." SECTION 4. 2-27 Said Act is further amended by inserting immediately 2-28 following Section 38 a new Section 39 to read as follows: "SECTION 39. 2-29 No mandatory retirement age. 2-30 Notwithstanding any other provision of this Act, in 2-31 compliance with federal law, there shall be no mandatory 2-32 retirement age for any person participating in the fund; 2-33 provided, however, that nothing in this section shall be 2-34 construed as to divest any rights of any individual -2- (Index) LC 21 3530S 3- 1 participating in the fund prior to the effective date of 3- 2 this Act." SECTION 5. 3- 3 This Act shall become effective on July 1, 1996, only if it 3- 4 is determined to have been concurrently funded as provided 3- 5 in Chapter 20 of Title 47 of the Official Code of Georgia 3- 6 Annotated, the "Public Retirement Systems Standards Law"; 3- 7 otherwise, this Act shall not become effective and shall be 3- 8 automatically repealed in its entirety on July 1, 1996, as 3- 9 required by subsection (a) of Code Section 47-20-50. SECTION 6. 3-10 All laws and parts of laws in conflict with this Act are 3-11 repealed. -3- (Index)

Office of the Clerk of the House
Robert E. Rivers, Jr., Clerk of the House
Last Updated on 01/02/97