05 LC 21
8043
House
Bill 336
By:
Representative Mumford of the
95th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 5 of Chapter 2 of Title 47 of the Official Code of Georgia
Annotated, relating to service creditable toward retirement benefits under the
Employeeś
Retirement System of Georgia, so as to provide that a member of such retirement
system may obtain creditable service for prior service as an active member of
the Georgia Judicial Retirement System or a predecessor retirement system; to
provide for notice and the transfer or payment of funds; to provide conditions
for an effective date and automatic repeal; to repeal conflicting laws; and for
other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
5 of Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating
to service creditable toward retirement benefits under the
Employeeś
Retirement System of Georgia, is amended by inserting at the end thereof the
following:
"47-2-101.
(a)(1)
Any member of this retirement system who was previously an active member of the
Georgia Judicial Retirement System or a predecessor retirement system, as such
term is defined in Code Section 47-23-1, may elect to have all contributions
made by or on behalf of such member transferred from such retirement system to
this retirement system. Any such member shall notify the board of trustees of
this retirement system and of the Georgia Judicial Retirement System not later
than December 31, 2006, or within 90 days after first becoming a member of this
retirement system, whichever date is later.
(2)
If the member subject to this subsection has not withdrawn his or her employee
contributions from the Georgia Judicial Retirement System or predecessor
retirement system, then upon receipt of the notice provided for in paragraph (1)
of this subsection, the Board of Trustees of the Georgia Judicial Retirement
System shall transfer to the board of trustees of this retirement system all
employer and employee contributions paid by or on behalf of the employee,
together with regular interest thereon.
(3)
If the member subject to this subsection has withdrawn his or her employee
contributions from the Georgia Judicial Retirement System or predecessor
retirement system, then at the time of giving the notice provided for in
paragraph (1) of this subsection, the member shall pay to the board of trustees
of this retirement system the total of such contributions, together with regular
interest thereon. Upon receipt of such notice and payment of such amount, the
Board of Trustees of the Georgia Judicial Retirement System shall transfer to
the board of trustees of this retirement system all employer contributions paid
on behalf of the employee, together with regular interest thereon.
(b)
Upon receipt of the funds provided for in paragraphs (2) and (3) of subsection
(a) of this Code section, the board of trustees of this retirement system shall
credit the member with the actual years of prior service as an active member of
the Georgia Judicial Retirement System or a predecessor retirement
system
(c)
No creditable service may be obtained pursuant to the provisions of this Code
section for any period for which creditable service has been or may be obtained
in any other state or local public retirement
system."
SECTION
2.
This
Act shall become effective on July 1, 2006, only if it is determined to have
been concurrently funded as provided in Chapter 20 of Title 47 of the Official
Code of Georgia Annotated, the "Public Retirement Systems Standards Law";
otherwise, this Act shall not become effective and shall be automatically
repealed in its entirety on July 1, 2006, as required by subsection (a) of Code
Section 47-20-50.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.