Georgia House of Representatives - 1995/1996 Sessions

HB 690 - Regents retirement; employer's contribution

Page Numbers - 1

1. McBee  88th            2. Cummings  27th          3. Scoggins  24th
4. Buck  135th


House Comm: Ret        /                Senate Comm:            /                                   
House Vote: Yeas       Nays             Senate Vote: Yeas     Nays                                  
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               House          Action         Senate                                                 
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              2/10/95  Read 1st Time                                                                
              2/13/95  Read 2nd Time                                                                
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Code Sections amended:                                                                              


HB 690                                            LC 21 3268






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Code Section 47-21-4 of the Official Code of
  1- 2  Georgia Annotated, relating to employee and other
  1- 3  contributions under the regents retirement plan, so as to
  1- 4  change the employer's contribution; to provide for an
  1- 5  effective date and automatic repeal; to repeal conflicting
  1- 6  laws; and for other purposes.

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

                         SECTION 1.

  1- 8  Code Section 47-21-4 of the Official Code of Georgia
  1- 9  Annotated, relating to employee and other contributions
  1-10  under the regents retirement plan, is amended by striking in
  1-11  its entirety subsection (b) and inserting in lieu thereof
  1-12  the following:

  1-13    "(b) The University System of Georgia shall contribute to
  1-14    the optional retirement plan on behalf of each
  1-15    participating employee an amount equal to 4 8 percent of
  1-16    the participating employee's earnable compensation."

                         SECTION 2.

  1-17  This Act shall become effective on July 1, 1996, only if it
  1-18  is determined to have been concurrently funded as provided
  1-19  in Chapter 20 of Title 47 of the Official Code of Georgia
  1-20  Annotated, the "Public Retirement Systems Standards Law";
  1-21  otherwise, this Act shall not become effective and shall be
  1-22  automatically repealed in its entirety on July 1, 1996, as
  1-23  required by subsection (a) of Code Section 47-20-50.

                         SECTION 3.

  1-24  All laws and parts of laws in conflict with this Act are
  1-25  repealed.







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