07 LC 21
9351
House
Bill 614
By:
Representatives Mumford of the
95th
and Holt of the
112th
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 creditable toward retirement under the Teachers
Retirement System of Georgia, so as to provide for creditable service for active
members of the Teachers Retirement System of Georgia for prior service as a
teacher with an independent school system during a certain period; to provide
for application and payment of an employee´s and employer´s
contribution with interest; 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 creditable toward retirement under the Teachers Retirement System of
Georgia, is amended by adding at the end thereof a new Code section to read as
follows:
"47-3-96.
Any
active member of this retirement system may obtain up to seven years of
creditable service for prior service as a teacher in an independent school
system which occurred between January 1, 1972 and December 31, 1979, if he or
she has withdrawn all of his or her contributions from any retirement system
associated with such independent school system or is not otherwise eligible for
a pension based upon such service other than social security. Any such member
shall make application in such manner as the board of trustees provides and
shall pay the employee and employer contributions which would have been paid if
he or she had been a member of this retirement system during such period,
together with interest at the normal rate to the day of payment. Such
application and payment must be made prior to December 31,
2008."
SECTION
2.
This
Act shall become effective on July 1, 2008, 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repealed in its entirety on July 1, 2008, as required by subsection (a) of Code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laws and parts of laws in conflict with this Act are repealed.