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
State Auditor
(404) 656-2174
April
11, 2007
The Honorable Bill
Heath
State Senator
State Capitol, Room 109
Atlanta, Georgia 30334
State Senator
State Capitol, Room 109
Atlanta, Georgia 30334
SUBJECT: State
Auditor’s
Certification
Senate Bill (LC 21 9509)
Senate Bill (LC 21 9509)
Dear Senator
Heath:
This
bill would amend provisions relating to retirement benefits for appellate court
judges under the Employees’ Retirement System. Specifically, this bill
would provide that retirement benefits would be calculated through a different
method for persons who first become an appellate court judge on or after July 1,
2008 and for persons who again become an appellate court judge on or after such
date, who do not have a vested right to be reinstated in the Employees’
Retirement System. If this legislation is enacted, such members would become
eligible for retirement benefits after 10 years of service. Such members would
receive a retirement benefit equivalent to 66.66 percent, plus 1 percent for
each year of creditable service over ten years, of the member’s salary.
However, no member shall receive more than 20 years of creditable service.
Additionally, the member would not be entitled to receive benefits until he or
she reaches 65 years of age. It should be noted that this bill also authorizes
members who are serving as an appellate court judge on June 30, 2008 to elect to
become subject to the provisions outlined in this bill. Such election must be
made by October 30, 2008.
This
is to certify that this is a fiscal retirement bill as defined in the Public
Retirement Systems Standards Law.
Respectfully,
/s/ Russell W.
Hinton
State Auditor
State Auditor