06 LC 25
4194
Senate
Bill 466
By:
Senators Adelman of the 42nd, Smith of the 52nd and Meyer von Bremen of the 12th
AS
PASSED SENATE
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Title 47 of the Official Code of Georgia Annotated, relating to retirement
and pensions, so as to correct typographical, stylistic, and other errors and
omissions in Title 47 of the Official Code of Georgia Annotated and in Acts of
the General Assembly amending Title 47 of the Official Code of Georgia
Annotated; to correct capitalization and spelling in Title 47 of the Official
Code of Georgia Annotated; to provide for other matters relative to Title 47 of
the Official Code of Georgia Annotated; to provide an effective date; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Title
47 of the Official Code of Georgia Annotated, relating to retirement and
pensions, is amended as follows:
(1) By striking the semicolon at the end of division (16)(B)(iii) of Code Section 47-2-1, relating to definitions in regard to the Employeeś Retirement System of Georgia.
(2) By striking "advisors" and inserting in its place "advisers" in subsection (b) of Code Section 47-2-31, relating to investment powers and the power to employ agents as investment advisers and to make investments in regard to the creation, administration, and management of the assets of the Employeeś Retirement System of Georgia.
(3) By striking the (a) designation and by striking "his" and inserting in its place "his or her" both times it appears in Code Section 47-2-55, relating to the pension accumulation fund, purposes, employer contributions, and crediting of interest and dividends earned on funds of the Employeeś Retirement System of Georgia.
(4) By striking "accumulation fund, provided the payments" and inserting in its place "accumulation fund, provided that the payments" in Code Section 47-3-45, relating to obligations of the pension accumulation fund and permissible uses of the assets of the pension accumulation fund and of income, interest, and dividends in regard to the Teachers Retirement System of Georgia.
(5) By striking "upon the basis of the mortality tables" and inserting in its place "upon the bases of the mortality tables" in subsection (b) of Code Section 47-6-81, relating to optional retirement allowances in regard to the Georgia Legislative Retirement System.
(1) By striking the semicolon at the end of division (16)(B)(iii) of Code Section 47-2-1, relating to definitions in regard to the Employeeś Retirement System of Georgia.
(2) By striking "advisors" and inserting in its place "advisers" in subsection (b) of Code Section 47-2-31, relating to investment powers and the power to employ agents as investment advisers and to make investments in regard to the creation, administration, and management of the assets of the Employeeś Retirement System of Georgia.
(3) By striking the (a) designation and by striking "his" and inserting in its place "his or her" both times it appears in Code Section 47-2-55, relating to the pension accumulation fund, purposes, employer contributions, and crediting of interest and dividends earned on funds of the Employeeś Retirement System of Georgia.
(4) By striking "accumulation fund, provided the payments" and inserting in its place "accumulation fund, provided that the payments" in Code Section 47-3-45, relating to obligations of the pension accumulation fund and permissible uses of the assets of the pension accumulation fund and of income, interest, and dividends in regard to the Teachers Retirement System of Georgia.
(5) By striking "upon the basis of the mortality tables" and inserting in its place "upon the bases of the mortality tables" in subsection (b) of Code Section 47-6-81, relating to optional retirement allowances in regard to the Georgia Legislative Retirement System.
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.