LC 21 9408
House
Bill 707
By:
Representative Dickson of the
6th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 47-3-89 of the Official Code of Georgia Annotated, relating
to creditable service in the Teachers Retirement System of Georgia for service
rendered in governmentally supported or operated schools other than public
schools in Georgia and payments required to obtain credit for such service, so
as to provide for such credit for prior service with an agency of another state;
to provide for application and payment; 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 47-3-89 of the Official Code of Georgia Annotated, relating to
creditable service in the Teachers Retirement System of Georgia for service
rendered in governmentally supported or operated schools other than public
schools in Georgia and payments required to obtain credit for such service, is
amended by adding a new subsection to read as follows:
"(c)
Any member of the retirement system shall be permitted to establish credit for a
maximum of ten years of service as a public employee of an agency of another
state in a position that required such member to be a certificated teacher. A
member wishing to obtain such creditable service shall pay to the board of
trustees such amount as determined by the actuary as necessary to grant such
benefit without creating any unfunded accrued liability as to this retirement
system in accordance with regulations adopted by the board of trustees.
Application and payment for such creditable service must be made not later than
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repealed in its entirety on July 1, 2008, as required by subsection (a) of Code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laws and parts of laws in conflict with this Act are repealed.