Georgia House of Representatives - 1995/1996 Sessions

HB 309 - Teachers Retirement; redefine earnable compensation

Page Numbers - 1/ 2

1. McBee  88th            2. Scoggins  24th          3. Cummings  27th


House Comm: Ret        /                Senate Comm:            /                                   
House Vote: Yeas       Nays             Senate Vote: Yeas     Nays                                  
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               House          Action         Senate                                                 
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              1/23/95  Read 1st Time                                                                
              1/24/95  Read 2nd Time                                                                
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Code Sections amended:                                                                              


HB 309                                            LC 16 3804






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Code Section 47-3-1 of the Official Code of Georgia
  1- 2  Annotated, relating to definitions relative to the Teachers
  1- 3  Retirement System of Georgia, so as to change a certain
  1- 4  definition; to provide conditions for an effective date and
  1- 5  automatic repeal; to repeal conflicting laws; and for other
  1- 6  purposes.

  1- 7       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1- 8  Code Section 47-3-1 of the Official Code of Georgia
  1- 9  Annotated, relating to definitions relative to the Teachers
  1-10  Retirement System of Georgia, is amended by striking in its
  1-11  entirety paragraph (11), and inserting in lieu thereof the
  1-12  following:

  1-13      "(11) 'Earnable compensation' means the full rate of
  1-14      regular compensation payable to a member for his or her
  1-15      full normal working time and includes compensation paid
  1-16      to a member by an employer from grants or contracts made
  1-17      by outside agencies with the employer.  All moneys paid
  1-18      by an employer for a member or by a member into any plan
  1-19      of tax sheltered annuity and all moneys shown on an
  1-20      employee's federal Form W-2 as imputed income shall be
  1-21      included as earnable compensation for the purpose of
  1-22      computing any contributions required to be made to the
  1-23      retirement system and also for the purpose of computing
  1-24      any benefits or allowances payable under this chapter."

                         SECTION 2.

  1-25  This Act shall become effective on July 1, 1996, only if it
  1-26  is determined to have been concurrently funded as provided
  1-27  in Chapter 20 of Title 47 of the Official Code of Georgia
  1-28  Annotated, the "Public Retirement Systems Standards Law";
  1-29  otherwise, this Act shall not become effective and shall be
  1-30  automatically repealed in its entirety on July 1, 1996, as
  1-31  required by subsection (a) of Code Section 47-20-50.



                                 -1- (Index)

                                                  LC 16 3804

                         SECTION 3.

  2- 1  All laws and parts of laws in conflict with this Act are
  2- 2  repealed.













































                                 -2- (Index)