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HB 198 - Employees' Retirement; 33 years service

Parham, Bobby E (122nd)

Status Summary	HC:	Ret	SC:		FR:	01/26/99	LA:	01/27/99	H - Read 2nd Time

First Reader Summary

A BILL to amend Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the Employees' Retirement System of Georgia, so as to change the provisions relating to retirement allowances; to provide that certain members with at least 33 years of service shall be eligible to retire forthwith; and for other purposes.

HB 198                                             LC 21 5162 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Chapter 2 of Title 47 of the Official Code of 
  1- 2  Georgia Annotated, relating to the Employees' Retirement 
  1- 3  System of Georgia, so as to change the provisions relating 
  1- 4  to retirement allowances; to provide that certain members 
  1- 5  with at least 33 years of service shall be eligible to 
  1- 6  retire forthwith and upon retirement shall be paid not less 
  1- 7  than the service retirement allowance which would have been 
  1- 8  payable upon service retirement at the age of 65 had such 
  1- 9  members continued in service without further change in 
  1-10  compensation; to change the provisions relating to service 
  1-11  retirement allowance and calculation of retirement benefits 
  1-12  or allowances for certain members; to provide conditions for 
  1-13  an effective date and for automatic repeal; to repeal 
  1-14  conflicting laws; and for other purposes. 
 
  1-15       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-16                           SECTION 1. 
 
  1-17  Chapter 2 of Title 47 of the Official Code of Georgia 
  1-18  Annotated, relating to the Employees' Retirement System of 
  1-19  Georgia, is amended by striking in its entirety subsection 
  1-20  (d) of Code Section 47-2-120, relating to retirement 
  1-21  allowances, and inserting in lieu thereof a new subsection 
  1-22  (d) to read as follows: 
 
  1-23    "(d) Anything in this chapter to the contrary 
  1-24    notwithstanding, any member with at least 34 33 years of 
  1-25    service shall be eligible to retire forthwith and upon 
  1-26    retirement shall be paid not less than the service 
  1-27    retirement allowance which would have been payable upon 
  1-28    service retirement at the age of 65 had he such member 
  1-29    continued in service without further change in 
  1-30    compensation." 
 
  1-31                           SECTION 2. 
 
  1-32  Said chapter is further amended by striking in its entirety 
  1-33  paragraph (5) of subsection (e) of Code Section 47-2-334, 
  1-34  relating to service retirement allowance and calculation of 
 
 
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  2- 1  retirement benefits or allowances, and inserting in lieu 
  2- 2  thereof a new paragraph (5) to read as follows: 
 
  2- 3      "(5) If a member is otherwise eligible for projected 
  2- 4      years in service and unless same is made inapplicable by 
  2- 5      the conditions in subsection (f) of this Code section, 
  2- 6      projected years of service used in the determination of 
  2- 7      retirement benefits for death, disability, involuntary 
  2- 8      separation, or retirement with 34 33 years of service 
  2- 9      shall be used in the computation of the retirement 
  2-10      allowances under the foregoing steps (1) and (2). 
  2-11      However, projected years of service used in such 
  2-12      benefits computations shall not be used in determining 
  2-13      the fractional part or allocation of the benefit amount 
  2-14      described in foregoing step (3)." 
 
  2-15                           SECTION 3. 
 
  2-16  Said chapter is further amended by striking in its entirety 
  2-17  subsection (f) of said Code Section 47-2-334 and inserting 
  2-18  in lieu thereof the following: 
 
  2-19    "(f) Members subject to this Code section shall be subject 
  2-20    to the following conditions: 
 
  2-21      (1) The provisions of subsection (d) of Code Section 
  2-22      47-2-120 shall not be applicable to members subject to 
  2-23      this Code section;  
 
  2-24      (2) Except as otherwise provided in Code Sections 
  2-25      47-2-96.1, 47-2-96.2, 47-2-204, 47-2-225, and 47-2-266 
  2-26      and paragraph (3) of this subsection, no service shall 
  2-27      constitute creditable service except membership service 
  2-28      for which the full rate of employee membership 
  2-29      contributions and employer contributions is made 
  2-30      pursuant to subsections (c) and (d) of this Code 
  2-31      section; and 
 
  2-32      (3)(2) The provisions of Code Section 47-2-91 shall be 
  2-33      applicable to members subject to this Code section; 
  2-34      provided, however, that such benefits shall be subject 
  2-35      to reduction or repeal by subsequent legislation and 
  2-36      shall not be considered an element of any contract of 
  2-37      employment." 
 
  2-38                           SECTION 4. 
 
  2-39  This Act shall become effective on July 1, 2000, only if it 
  2-40  is determined to have been concurrently funded as provided 
  2-41  in Chapter 20 of Title 47 of the Official Code of Georgia 
 
 
 
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  3- 1  Annotated, the "Public Retirement Systems Standards Law"; 
  3- 2  otherwise, this Act shall not become effective and shall be 
  3- 3  automatically repealed in its entirety on July 1, 2000, as 
  3- 4  required by subsection (a) of Code Section 47-20-50. 
 
  3- 5                           SECTION 5. 
 
  3- 6  All laws and parts of laws in conflict with this Act are 
  3- 7  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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