Georgia House of Representatives - 1995/1996 Sessions

HB 749 - Fulton Co; school employees pension; minimum payment

Page Numbers - 1/ 2/ 3

1. Holmes  53rd


House Comm: LLeg       / Ret            Senate Comm: Ret        /                                   
House Vote: Yeas 159   Nays 0           Senate Vote: Yeas 44  Nays 0                                
              ----------------------------------------                                              
               House          Action         Senate                                                 
              ----------------------------------------                                              
              2/15/95  Read 1st Time         1/11/96                                                
              2/16/95  Read 2nd Time         2/5/96                                                 
              1/8/96   Favorably Reported    2/2/96                                                 
              Sub      Committee Amend/Sub                                                          
              3/15/95  Recommitted                                                                  
              1/10/96  Read 3rd Time         2/7/96                                                 
              1/10/96  Passed/Adopted        2/7/96                                                 
              CS       Comm/Floor Amend/Sub                                                         
              3/19/96  Sent to Governor                                                             
              3/25/96  Signed by Governor                                                           
              584      Act/Veto Number                                                              
              W/F      Effective Date                                                               
              ----------------------------------------                                              
Withdrawn and Recommitted                                                                           
                                                                                                    
Code Sections amended:                                                                              


HB 749                                            LC 21 3530S






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend an Act entitled "An Act to Continue the Fulton
  1- 2  County School Employees Pension Fund," approved April 5,
  1- 3  1994 (Ga. L. 1994, p. 4706), so as to provide a minimum
  1- 4  pension amount; to provide that spouses' benefits shall
  1- 5  continue after the remarriage of the spouse; to change the
  1- 6  definition of a year of service; to provide that there shall
  1- 7  be no minimum retirement age; to provide conditions for an
  1- 8  effective date and automatic repeal; to repeal conflicting
  1- 9  laws; and for other purposes.

  1-10       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1-11  An Act entitled "An Act to Continue the Fulton County School
  1-12  Employees Pension Fund," approved April 5, 1994 (Ga. L.
  1-13  1994, p. 4706), is amended by striking in its entirety
  1-14  Section 5E, relating to minimum pension benefits, and
  1-15  inserting in lieu thereof the following:

                        "SECTION 5E.
  1-16                   Minimum pension benefits.

  1-17    Notwithstanding any other provision of this Act, any
  1-18    person who was a pensioner on July 1, 1994, or who retires
  1-19    after that date shall receive a pension in an amount not
  1-20    less than a sum equal to $17.00 per month multiplied by
  1-21    the number of the pensioner's years of creditable service,
  1-22    not to exceed 40 years.  The minimum pension which shall
  1-23    be payable to the beneficiary of any such person shall be
  1-24    70 percent of the pension received by such person.  Any
  1-25    cost of living adjustments due to any pensioner or
  1-26    beneficiary shall be based on the pension he or she would
  1-27    be entitled to receive under this Act without regard to
  1-28    the provisions of this section, and no such increase shall
  1-29    operate to increase the minimum pension guaranteed by this
  1-30    section.  The provisions of this section shall not apply
  1-31    to any person who is receiving a pension under the
  1-32    Teachers Retirement System of Georgia."



                                 -1- (Index)

                                                 LC 21 3530S

                         SECTION 2.

  2- 1  Said Act is further amended by striking in its entirety
  2- 2  Section 6B, relating to qualifications for spouses'
  2- 3  benefits, and inserting in lieu thereof the following:

                        "SECTION 6B.
  2- 4              Qualification for spouse's pension.

  2- 5    Notwithstanding any other provision of this Act, the
  2- 6    spouse of a deceased member otherwise entitled to receive
  2- 7    a pension, shall be entitled to a pension only if he or
  2- 8    she was married to the deceased member prior to his or her
  2- 9    retirement or for a period of five years prior to the time
  2-10    when such member was entitled to retire.  A pension
  2-11    awarded to a spouse pursuant to this section shall
  2-12    continue for the life of such spouse without regard to his
  2-13    or her remarriage."

                         SECTION 3.

  2-14  Said Act is further amended by striking in its entirety
  2-15  Section 29, relating to the computation of a year of
  2-16  service, and inserting in lieu thereof the following:

                        "SECTION 29.
  2-17                Computation of years of service.

  2-18    A year of service shall consist of the completion of nine
  2-19    months of contract service during the period from July 1
  2-20    through June 30 of any fiscal year; provided, however,
  2-21    that no person shall receive more than one year of service
  2-22    for all service rendered during such period.  If an
  2-23    employee renders less than nine months of service during
  2-24    any such period, he or she shall receive credit for a
  2-25    fraction of a year computed by dividing the number of
  2-26    months of service by nine months."

                         SECTION 4.

  2-27  Said Act is further amended by inserting immediately
  2-28  following Section 38 a new Section 39 to read as follows:

                        "SECTION 39.
  2-29                  No mandatory retirement age.

  2-30    Notwithstanding any other provision of this Act, in
  2-31    compliance with federal law, there shall be no mandatory
  2-32    retirement age for any person participating in the fund;
  2-33    provided, however, that nothing in this section shall be
  2-34    construed as to divest any rights of any individual



                                 -2- (Index)

                                                 LC 21 3530S

  3- 1    participating in the fund prior to the effective date of
  3- 2    this Act."

                         SECTION 5.

  3- 3  This Act shall become effective on July 1, 1996, only if it
  3- 4  is determined to have been concurrently funded as provided
  3- 5  in Chapter 20 of Title 47 of the Official Code of Georgia
  3- 6  Annotated, the "Public Retirement Systems Standards Law";
  3- 7  otherwise, this Act shall not become effective and shall be
  3- 8  automatically repealed in its entirety on July 1, 1996, as
  3- 9  required by subsection (a) of Code Section 47-20-50.

                         SECTION 6.

  3-10  All laws and parts of laws in conflict with this Act are
  3-11  repealed.

































                                 -3- (Index)