HB 1099 - Tchrs Ret; allowance; increase by same percentage as teachers' salary

First Reader Summary

A BILL to amend Article 7 of Chapter 3 of Title 47 of the Official Code of Georgia Annotated, relating to retirement allowances, disability benefits, and spouses' benefits under the Teachers Retirement System of Georgia, so as to provide that the retirement allowance paid under such retirement system shall be automatically increased by the same percentage as the state salary for public school teachers; and for other purposes.

Smith, Tommy (169th) Murphy, Thomas B (18th) Childers, E. (Buddy) M (13th)
Dixon, Harry D (168th) Mosley, George H (171st) Greene, Gerald E (158th)
Status Summary HC: Ret SC: LA: 01/12/98 H - Read 2nd Time
Page Numbers - 1/ 2
Code Sections - 47-3-131
House Action Senate
3/28/97 Read 1st Time
1/12/98 Read 2nd Time

HB 1099                                            LC 21 4268 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Article 7 of Chapter 3 of Title 47 of the Official 
  1- 2  Code of Georgia Annotated, relating to retirement 
  1- 3  allowances, disability benefits, and spouses' benefits under 
  1- 4  the Teachers Retirement System of Georgia, so as to provide 
  1- 5  that the retirement allowance paid under such retirement 
  1- 6  system shall be automatically increased by the same 
  1- 7  percentage as the state salary for public school teachers; 
  1- 8  to provide that such increase shall be reduced by the 
  1- 9  percentage of any other annual increase in the retirement 
  1-10  allowance; to provide conditions for an effective date and 
  1-11  automatic repeal; to repeal conflicting laws; and for other 
  1-12  purposes. 
 
  1-13       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-14                           SECTION 1. 
 
  1-15  Article 7 of Chapter 3 of Title 47 of the Official Code of 
  1-16  Georgia Annotated, relating to retirement allowances, 
  1-17  disability benefits, and spouses' benefits under the 
  1-18  Teachers Retirement System of Georgia, is amended by 
  1-19  inserting at the end thereof the following: 
 
  1-20    "47-3-131. 
 
  1-21    The retirement allowance of any person receiving a 
  1-22    retirement allowance paid under this retirement system 
  1-23    shall be automatically increased by the same percentage as 
  1-24    the state salary for public school teachers is increased; 
  1-25    provided, however, that such percentage of increase shall 
  1-26    be reduced by any other increase in such retirement 
  1-27    allowance granted in the year in which the salary increase 
  1-28    becomes effective." 
 
  1-29                           SECTION 2. 
 
  1-30  This Act shall become effective on July 1, 1998, only if it 
  1-31  is determined to have been concurrently funded as provided 
  1-32  in Chapter 20 of Title 47 of the Official Code of Georgia 
  1-33  Annotated, the "Public Retirement Systems Standards Law"; 
 
 
 
                                 -1- 
 
 
 
  2- 1  otherwise, this Act shall not become effective and shall be 
  2- 2  automatically repealed in its entirety on July 1, 1998, as 
  2- 3  required by subsection (a) of Code Section 47-20-50. 
 
  2- 4                           SECTION 3. 
 
  2- 5  All laws and parts of laws in conflict with this Act are 
  2- 6  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 -2- 

Clerk of the House
Robert E. Rivers, Jr., Clerk
Last Updated on 04/20/98

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