05 LC 21
8191
House
Bill 568
By:
Representatives Coleman of the
97th,
Bridges of the
10th,
Jones of the
46th,
Casas of the
103rd,
and Maxwell of the
17th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 5 of Chapter 3 of Title 47 of the Official Code of Georgia
Annotated, relating to service credit toward retirement benefits in the Teachers
Retirement System of Georgia, so as to provide that the State Board of Education
is authorized to identify certain qualified teachers and grant to such teachers
up to one year of creditable service after teaching in an underperforming school
for five consecutive years; to provide for notification and 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 3 of Title 47 of the Official Code of Georgia Annotated, relating
to service credit toward retirement benefits in the Teachers Retirement System
of Georgia, is amended by inserting at the end thereof a new Code section to
read as follows:
"47-3-96.
(a)
The State Board of Education is authorized to identify certain qualified
teachers and grant to such teachers up to one year of creditable service after
teaching in an underperforming school for five consecutive years.
(b)
As a condition for granting the creditable service provided for in subsection
(a) of this Code section, the State Board of Education shall notify the board of
trustees of the name of such teacher and shall pay to this retirement system,
from funds appropriated to or otherwise available to the State Board of
Education, such amount as determined by the actuary as necessary to grant such
benefit to the teacher so identified without creating any actuarial accrued
liability as to this retirement system; provided, however, that no such
creditable service shall be granted until the board of trustees has received the
full amount so
determined."
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repealed in its entirety on July 1, 2006, as required by subsection (a) of Code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laws and parts of laws in conflict with this Act are repealed.