Georgia House of Representatives - 1995/1996 Sessions

HB 506 - Superior Court Judges Retirement; amend provisions

Page Numbers - 1/ 2/ 3/ 4

Code Sections - 47-9-71

1. Barnes  33rd           2. Shanahan  10th          3. Bostick  165th
4. Watts  26th            5. Cummings  27th


House Comm: Ret        /                Senate Comm: Ret        /                                   
House Vote: Yeas 159   Nays 5           Senate Vote: Yeas 49  Nays 3                                
              ----------------------------------------                                              
               House          Action         Senate                                                 
              ----------------------------------------                                              
              1/31/95  Read 1st Time         1/11/96                                                
              2/1/95   Read 2nd Time         2/19/96                                                
              1/8/96   Favorably Reported    2/15/96                                                
              1/10/96  Read 3rd Time         2/29/96                                                
              1/10/96  Passed/Adopted        2/29/96                                                
              3/15/96  Sent to Governor                                                             
              3/15/96  Signed by Governor                                                           
              518      Act/Veto Number                                                              
              W/F      Effective Date                                                               
              ----------------------------------------                                              
                                                                                                    
Code Sections amended: 47-9-70, 47-9-71                                                             


HB 506                                            LC 21 3068






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Article 5 of Chapter 9 of Title 47 of the Official
  1- 2  Code of Georgia Annotated, relating to benefits under the
  1- 3  Superior Court Judges Retirement System, so as to provide
  1- 4  that the minimum age for retirement shall be reduced from 65
  1- 5  to 60 years of age; to increase the maximum number of years
  1- 6  of creditable service which may be used to calculate
  1- 7  retirement benefits from 16 to 24 years; to change the
  1- 8  minimum number of years' service required to qualify for
  1- 9  retirement from 16 years of actual service to 16 years of
  1-10  creditable service;  to change the method of calculating the
  1-11  reduction in benefits imposed for retiring with less than 16
  1-12  years of service; to provide that members of such retirement
  1-13  system who have already retired at an age less than 65 but
  1-14  greater than 60 years and who are receiving a benefit
  1-15  reduced because of age shall be entitled to a benefit
  1-16  without such reduction; to provide conditions for an
  1-17  effective date and automatic repeal; to repeal conflicting
  1-18  laws; and for other purposes.

  1-19       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1-20  Article 5 of Chapter 9 of Title 47 of the Official Code of
  1-21  Georgia Annotated, relating to benefits under the Superior
  1-22  Court Judges Retirement System, is amended by striking in
  1-23  its entirety subsection (b) of Code Section 47-9-70,
  1-24  relating to retirement and eligibility for retirement
  1-25  benefits and related matters, which reads as follows:

  1-26    "(b) The right of a member to receive benefits under this
  1-27    chapter shall vest after the member obtains ten years of
  1-28    creditable service, but the maximum monthly retirement
  1-29    benefit under this chapter shall be two-thirds of the
  1-30    state salary paid to superior court judges at the time of
  1-31    retirement, except as otherwise provided by subsection (c)
  1-32    of this Code section, and such maximum benefit shall be
  1-33    based on obtaining 16 years of creditable service and the
  1-34    attainment of age 65.  A member who has at least ten years


                                 -1- (Index)

                                                  LC 21 3068

  2- 1    of creditable service but less than 16 and who is at least
  2- 2    60 years of age, but less than 65, may retire at a reduced
  2- 3    benefit pursuant to Code Section 47-9-71 of this chapter.
  2- 4    Any member obtaining 16 years of creditable service on or
  2- 5    after November 1, 1982, who continues to serve as a
  2- 6    superior court judge shall continue to make employee
  2- 7    contributions to the fund until the member's retirement.",

  2- 8  and inserting in lieu thereof the following:

  2- 9    "(b) The right of a member to receive benefits under this
  2-10    chapter shall vest after the member obtains ten years of
  2-11    creditable service; provided, however, that no member
  2-12    shall receive a retirement benefit prior to attaining the
  2-13    age of 60 years.  A member retiring with 16 years or more
  2-14    of creditable service shall receive a benefit equal to
  2-15    66.66 percent, plus 1 percent for each year of creditable
  2-16    service over 16 years, of the state salary paid to
  2-17    superior court judges at the time of retirement; provided,
  2-18    however, that no member shall receive more than 24 years
  2-19    of creditable service.  A member retiring with less than
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  2-21    benefit pursuant to Code Section 47-9-71."

                         SECTION 2.

  2-22  Said article is further amended by striking in its entirety
  2-23  Code Section 47-9-71, relating to benefits payable upon
  2-24  early retirement, and inserting in lieu thereof the
  2-25  following:

  2-26    "47-9-71. (Index)

  2-27    (a) In lieu of retirement at the maximum benefits benefit
  2-28    level provided by subsection (b) of Code Section 47-9-70,
  2-29    a member may retire at any time after attaining the age of
  2-30    60 years and after obtaining a minimum of ten years of
  2-31    creditable service. The monthly retirement benefit for
  2-32    such early retirement shall be a percentage of the maximum
  2-33    retirement benefits provided by subsection (b) of Code
  2-34    Section 47-9-70. The percentage shall be the proportion
  2-35    which the number of actual years of service as a superior
  2-36    court judge bears to 16. In no event shall the benefits
  2-37    under this subsection exceed 75 percent of the maximum
  2-38    retirement benefits provided in subsection (b) of Code
  2-39    Section 47-9-70.

  2-40    (b) For any judge of the superior courts becoming a member
  2-41    of this retirement system on or after November 1, 1982,



                                 -2- (Index)

                                                  LC 21 3068

  3- 1    and for any member of the retirement system in service on
  3- 2    November 1, 1982, who benefits thereby, the monthly
  3- 3    retirement benefit for early retirement shall be a
  3- 4    percentage of the maximum benefit under subsection (b) of
  3- 5    Code Section 47-9-70, and such percentage shall be the
  3- 6    proportion which the number of years of actual service as
  3- 7    a superior court judge bears to 16, but the benefit
  3- 8    derived from such computation shall be reduced by
  3- 9    one-fourth of 1 percent for each month less than 16 years
  3-10    of actual service as a superior court judge or by
  3-11    one-fourth of 1 percent for each month the member lacks
  3-12    being 65 years of age, whichever reduction is greater.
  3-13    Any member of the retirement system in service on November
  3-14    1, 1982, whose early retirement benefit is less under this
  3-15    subsection than under subsection (a) of this Code section
  3-16    shall be entitled to computation of early retirement
  3-17    benefits under said subsection (a) of this Code section.

  3-18    (c) For any judge of the superior courts becoming a member
  3-19    of this retirement system on or after July 1, 1996, for
  3-20    any member of this retirement system in service on July 1,
  3-21    1996, who benefits thereby, and for any retired member of
  3-22    this retirement system who retired on or prior to July 1,
  3-23    1996, and whose retirement benefits are calculated
  3-24    pursuant to subsection (a) or (b) of this Code section and
  3-25    who benefits thereby, the monthly retirement benefit for
  3-26    early retirement shall be a percentage of the benefit
  3-27    under subsection (b) of Code Section 47-9-70, and such
  3-28    percentage shall be the proportion which the number of
  3-29    years of creditable service the member has in the
  3-30    retirement system bears to 16, but the benefit derived
  3-31    from such computation shall be reduced by one-fourth of 1
  3-32    percent for each month less than 16 years of creditable
  3-33    service.  Any member of this retirement system in service
  3-34    on July 1, 1996, and any retired member of this retirement
  3-35    system whose retirement benefits are calculated pursuant
  3-36    to subsection (a) of this Code section whose actual or
  3-37    projected early retirement benefit is less under this
  3-38    subsection than under subsection (a) or (b) of this Code
  3-39    section shall be entitled to computation of early
  3-40    retirement benefits under such subsection.  Any increase
  3-41    in benefits available to judges who are retired on July 1,
  3-42    1996, as a result of application of this Code section
  3-43    shall be prospective only.

  3-44    (c)(d) A member may retire pursuant to subsection (b) or
  3-45    (c) of Code Section 47-9-70 or pursuant to subsection (a),


                                 -3- (Index)

                                                  LC 21 3068

  4- 1    or (b), or (c) of this Code section by making written
  4- 2    application to the board setting forth at what time, not
  4- 3    less than 30 days nor more than 90 days subsequent to the
  4- 4    filing of such application, he such member desires to be
  4- 5    retired."

                         SECTION 3.

  4- 6  This Act shall become effective on July 1, 1996, only if it
  4- 7  is determined to have been concurrently funded as provided
  4- 8  in Chapter 20 of Title 47 of the Official Code of Georgia
  4- 9  Annotated, the "Public Retirement Systems Standards Law";
  4-10  otherwise, this Act shall not become effective and shall be
  4-11  automatically repealed in its entirety on July 1, 1996, as
  4-12  required by subsection (a) of Code Section 47-20-50.

                         SECTION 4.

  4-13  All laws and parts of laws in conflict with this Act are
  4-14  repealed.






























                                 -4- (Index)