07 LC 21
9330
House
Bill 658
By:
Representative Powell of the
29th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 47-2-123 of the Official Code of Georgia Annotated, relating
to allowance payable under the Employees´ Retirement System of Georgia upon
death, disability, or involuntary separation from employment, restrictions on
separating from state service, and employee entitled to involuntary separation
benefits, so as to provide that disability benefit calculations shall be
applicable without regard to age; 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 47-2-123 of the Official Code of Georgia Annotated, relating to
allowance payable under the Employees´ Retirement System of Georgia upon
death, disability, or involuntary separation from employment, restrictions on
separating from state service, and employee entitled to involuntary separation
benefits, is amended by revising subsection (c) as follows:
"(c)
Any member who is at least 60 years of age upon
disability
retirement, involuntary separation from
employment without
prejudice,
or death shall receive the equivalent of a
service retirement allowance. Any such member who is under 60 years of age
shall
receive, as
appropriate, a disability allowance,
allowance in case of involuntary separation from employment without
prejudice,
or death allowance, which shall consist
of:
(1)
In the case of a member with at least 15 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 60 had the member continued in service to age 60 without
further change in compensation, provided that this paragraph shall not apply to
a member whose employment was terminated by involuntary separation without
prejudice;
(2)
In the case of a member with at least 20 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 60 had the member continued in service to age 60 without further change in
compensation;
(3)
In the case of a member with at least 25 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 65 had he
or
she continued in service without further
change in compensation; or
(4)
In the case of a member with at least 30 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 65 had he
or
she continued in service without further
change in compensation.
Any
provisions of this chapter to the contrary notwithstanding, in the application
of the above paragraphs of this subsection
relating to
allowances other than for disability or death, projected retirement
allowance computations shall be made on
the basis of the member´s highest total monthly earnable compensation, as
reflected by monthly contributions made during the last 24 calendar months in
which he or
she had made contributions, except that no
salary increase by adjustment in compensation in any manner in excess of 10
percent during the last 12 months of membership service shall be included in the
projected computation."
SECTION
2.
Said
Code section is further amended by adding following subsection (c) a new
subsection as follows:
"(c.1)
Any member upon disability retirement or death shall receive a disability
allowance or death allowance, which shall consist of:
(1)
In the case of a member with at least 15 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 60 had the member continued in service to age 60 without
further change in compensation, provided that this paragraph shall not apply to
a member whose employment was terminated by involuntary separation without
prejudice;
(2)
In the case of a member with at least 20 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 60 had the member continued in service to age 60 without further change in
compensation;
(3)
In the case of a member with at least 25 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 65 had he or she continued in service without further change
in compensation; or
(4)
In the case of a member with at least 30 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 65 had he or she continued in service without further change in
compensation."
SECTION
3.
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
4.
All
laws and parts of laws in conflict with this Act are repealed.