DEPARTMENT
OF
AUDITS
AND
ACCOUNTS
270 Washington Street, S.W., Suite 1-156
Atlanta, Georgia 30334-8400
270 Washington Street, S.W., Suite 1-156
Atlanta, Georgia 30334-8400
Russell W. Hinton
State Auditor
(404) 656-2174
February
8, 2007
The Honorable Bill HeathState
Senator
State Capitol, Room 109
Atlanta, Georgia 30334
State Capitol, Room 109
Atlanta, Georgia 30334
SUBJECT: State
Auditor’s
Certification
Senate Bill 160 (LC 21 9248)
Senate Bill 160 (LC 21 9248)
Dear Senator
Heath:
This
bill would amend general provisions relating to the authority of the board of
trustees of a retirement system to increase benefits. Currently, the board of
trustees of a retirement system, as defined in the Official Code of Georgia
Annotated §47-1-30, is authorized to increase benefits paid to both present
and future retirees and beneficiaries in order to offset, wholly or partially,
the taxation of retirement benefits. If this legislation is enacted, the
authority of a board of trustees to provide for such increase will terminate on
July 1, 2007.
This
is to certify that this is a nonfiscal retirement bill as defined in the Public
Retirement Systems Standards Law.
Respectfully,
/s/ Russell W.
Hinton
State Auditor
State Auditor