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
2, 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 9448)
Senate Bill (LC 21 9448)
Dear Senator
Heath:
This
bill would amend provisions relating to the service retirement allowance paid to
certain members under the Employees’ Retirement System. Specifically,
this bill would affect persons who first become members on or after July 1, 2008
and those persons who again become members on or after July 1, 2008 who do not
have a vested right to reinstatement in the Employees’ Retirement System.
If this legislation is enacted, the amount of the retirement allowance provided
to such members would be determined based upon the amount of funds appropriated
by the General Assembly However, in no case, shall the retirement allowance be
less than 1.5 percent or greater than 2 percent. The provisions of this bill
specify that the retirement allowance provided to such members may differ from
the monthly pension provided to persons who were members prior to July 1,
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