07 LC 21
9238
Senate
Bill 162
By:
Senators Heath of the 31st, Tate of the 38th, Murphy of the 27th, Schaefer of
the 50th, Stoner of the 6th and others
AS
PASSED SENATE
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 47-2-123 of the Official Code of Georgia Annotated, relating
to allowance payable upon death, disability, or involuntary separation from
employment, restrictions on separating from employment, and restrictions on
entitlement to involuntary separation benefits, so as to provide that a person
who becomes a member of the Employees´ Retirement System of Georgia on or
after July 1, 2007, shall be entitled to a disability benefit based upon the
actual years of creditable service he or she had attained on the date of
retirement; to provide that no such person who is eligible for an equivalent
service retirement shall be entitled to receive a disability allowance; to
repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 47-2-123 of the Official Code of Georgia Annotated, relating to
allowance payable upon death, disability, or involuntary separation from
employment, restrictions on separating from employment, and restrictions on
entitlement to involuntary separation benefits, is amended by revising
subsection (c) as follows:
"(c)(1)
The provisions of this paragraph shall apply only to persons who are members of
the retirement system on June 30, 2007.
Any member who is at least 60 years of age upon disability retirement,
involuntary separation from employment without prejudice, or death shall receive
the equivalent of a service retirement allowance. Any such member who is under
60 years of age shall receive, as appropriate, a disability allowance, allowance
in case of involuntary separation from employment without prejudice, or death
allowance, which shall consist of:
(1)(A)
In the case of a member with at least 15 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 60 had the member continued in service to age 60 without
further change in compensation, provided that this
paragraph
subparagraph
shall not apply to a member whose employment was terminated by involuntary
separation without prejudice;
(2)(B)
In the case of a member with at least 20 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 60 had the member continued in service to age 60 without further change in
compensation;
(3)(C)
In the case of a member with at least 25 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 65 had he
or
she continued in service without further
change in compensation; or
(4)(D)
In the case of a member with at least 30 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 65 had he
or
she continued in service without further
change in compensation.
Any
provisions of this chapter to the contrary notwithstanding, in the application
of the
above paragraphs
subparagraphs
(A), (B), (C), and (D) of this
subsection
paragraph
relating to allowances other than for disability or death, projected retirement
allowance computations shall be made on the basis of the member´s highest
total monthly earnable compensation, as reflected by monthly contributions made
during the last 24 calendar months in which he
or
she had made contributions, except that no
salary increase by adjustment in compensation in any manner in excess of 10
percent during the last 12 months of membership service shall be included in the
projected computation.
(2)
The provisions of this paragraph shall apply only to persons who first or again
become members of the retirement system on or after July 1, 2007. Any member
who has at least 15 years of creditable service and who becomes disabled before
becoming eligible for a service retirement as provided in subsection (a) of
Code Section 47-2-110 shall be eligible to retire forthwith without regard to
age and to receive a disability retirement allowance calculated upon the number
of years of creditable service attained to the date of retirement and based upon
his or her highest average monthly compensation during a period of 24
consecutive calendar months while a member of the retirement system. No member
who is eligible for an equivalent service retirement shall be eligible to apply
for a disability retirement
allowance."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.