08 AM 21
3610
ADOPTED
Senators Shafer of the 48th, Powell of the 23rd, Tarver of the 22nd, Hamrick of the 30th, Wiles of the 37th and others offered the following amendment:
Senators Shafer of the 48th, Powell of the 23rd, Tarver of the 22nd, Hamrick of the 30th, Wiles of the 37th and others offered the following amendment:
Amend
HB 373 by inserting on line 5 of page 1 following
"limitations;"
the following:
to amend Article 5 of Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to service creditable under such retirement system, so as to provide for credit for service as a member of certain public retirement systems; to provide conditions;
By inserting following line 4 of page 2 the following:
to amend Article 5 of Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to service creditable under such retirement system, so as to provide for credit for service as a member of certain public retirement systems; to provide conditions;
By inserting following line 4 of page 2 the following:
SECTION
1.1.
Article
5 of Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating
to service creditable under the Employees´ Retirement System of Georgia, is
amended by adding a new Code section to read as follows:
"47-2-101.
A
member who was a member of the Georgia Judicial Retirement System but did not
vest may have employer and employee contributions transferred to this retirement
system by notifying both boards by December 31, 2008. Such transfer shall be
with regular interest, less an amount to ensure no increase in the unfunded
actuarial accrued liability occurs. The member may add to such amount up to the
actual service. The board shall grant creditable service in an amount that will
not increase the unfunded actuarial accrued liability. A member who was a member
of the District Attorney´s Retirement System but who did not vest may
obtain creditable service for such service by paying the full actuarial
cost."