hb492_LC_21_8118_a

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05 LC 21 8118

House Bill 492

By: Representatives Cummings of the 16th and Bridges of the 10th

A BILL TO BE ENTITLED
AN ACT

To amend Article 3 of Chapter 23 of Title 47 of the Official Code of Georgia Annotated, relating to membership in the Georgia Judicial Retirement System, so as to change the dates of election for participation; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Article 3 of Chapter 23 of Title 47 of the Official Code of Georgia Annotated, relating to membership in the Georgia Judicial Retirement System, is amended by striking in its entirety Code Section 47-23-43, relating to election for participation, and inserting in lieu thereof the following:

"47-23-43.

Any person subject to the provisions of Code Section 47-2-334 who is employed pursuant to Code Section 28-4-3 or 45-15-31 in a full-time position requiring admission to the State Bar of Georgia as a condition of employment may make an irrevocable election to become a member by so notifying the board of trustees not later than December 31, 1998, or within 90 days after becoming so employed, whichever date is later; provided, however, that no such election shall be made after October 1, 2005. Any such person shall be credited with service in this retirement system only for actual service in such position. The Employeeś Retirement System of Georgia shall transfer to this retirement system all employer and employee contributions paid by or on behalf of any such member with regular interest thereon. The member is authorized, but not required, to pay to the board of trustees such additional amount as the member desires, each payment to be made within 12 months of electing to become a member of this retirement system. Such member shall receive only such creditable service, not to exceed the actual years of service, as that amount will warrant without creating any accrued liability to this retirement system calculated as if the member had either elected or rejected spousés survivors benefits at the membeŕs option. Any such member who was vested in the Employeeś Retirement System of Georgia at the time of making such election shall be vested in this retirement system but if applicable shall receive a retirement benefit reduced as provided in Code Section 47-23-102. Such persons shall be subject to all provisions of this chapter applicable to solicitors-general of the state courts."

SECTION 2.

All laws and parts of laws in conflict with this Act are repealed.