06 LC 21
8309/AP
House
Bill 809 (AS PASSED HOUSE AND SENATE)
By:
Representatives Knight of the
126th,
Lunsford of the
110th,
and Yates of the
73rd
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 47-14-70 of the Official Code of Georgia Annotated, relating
to eligibility for retirement benefits in the Superior Court
Clerḱs
Retirement Fund, additional or partial retirement benefits, and election to
provide both retirement and survivors benefits, so as to provide that certain
persons who elected a survivors benefit and whose spouse predeceased him or her
shall receive a postretirement benefit adjustment; 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.
Code
Section 47-14-70 of the Official Code of Georgia Annotated, relating to
eligibility for retirement benefits in the Superior Court
Clerḱs
Retirement Fund, additional or partial retirement benefits, and election to
provide both retirement and survivors benefits, is amended by striking in its
entirety subsection (c) and inserting in lieu thereof the
following:
"(c)
In lieu of the retirement benefits provided in subsections (a) and (b) of this
Code section, a member, upon retirement, may elect to receive 90 percent of the
benefits the member is entitled to receive under subsections (a) and (b) of this
Code section during the remainder of the
membeŕs
life; and, after the
membeŕs
death, the
membeŕs
surviving spouse shall receive a monthly sum during the lifetime of the
surviving spouse equal to 50 percent of the amount which the member would have
received had the member elected the full benefits provided under subsections (a)
and (b) of this Code section. In order to be eligible for such benefits, the
surviving spouse must have been married to the member for at least six years
immediately preceding the
membeŕs
death. Such benefits shall not commence until after the surviving spouse reaches
55 years of age.
Any person who
was receiving a benefit on July 1, 2006, who elected a survivors benefit
pursuant to this subsection upon retirement and whose spouse predeceased him or
her shall be entitled to a postretirement benefit adjustment such that the
retirement allowance payable to the retired member on and after July 1, 2006,
shall be equal to the maximum retirement allowance which the retired member
would have been entitled to receive under this chapter if he or she had not
elected such survivors
benefit."
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.