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HB 919 - Judicial Retirement; certain employees; membership

Cummings, Bill (27th)

Status Summary	HC:	Ret	SC:	Ret	FR:	03/08/99	LA:	05/01/00	Signed by Governor

First Reader Summary

A BILL to amend Article 3 of Chapter 23 of Title 47 of the Official Code of Georgia Annotated, relating to membership in the Georgia Judicial Retirement System, so as to provide that certain persons who were serving in a position covered by such retirement system on July 1, 1998, may opt to become members of such retirement system; and for other purposes.

Code Sections - 47-23-48

HB 919                                             LC 21 5340 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Article 3 of Chapter 23 of Title 47 of the Official 
  1- 2  Code of Georgia Annotated, relating to membership in the 
  1- 3  Georgia Judicial Retirement System, so as to provide that 
  1- 4  certain persons who were serving in a position covered by 
  1- 5  such retirement system on July 1, 1998, may opt to become 
  1- 6  members of such retirement system; to provide for a transfer 
  1- 7  of funds; to provide for a grant of only such creditable 
  1- 8  service as the amount so transferred will warrant without 
  1- 9  creating any actuarial accrued unfunded liability to the 
  1-10  retirement system; to provide conditions for an  effective 
  1-11  date and automatic repeal; to repeal conflicting laws; and 
  1-12  for other purposes. 
 
  1-13       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-14                           SECTION 1. 
 
  1-15  Article 3 of Chapter 23 of Title 47 of the Official Code of 
  1-16  Georgia Annotated, relating to membership in the Georgia 
  1-17  Judicial Retirement System, is amended by inserting at the 
  1-18  end thereof the following: 
 
  1-19    "47-23-48. 
 
  1-20    Any person who on July 1, 1998, was a member of the 
  1-21    Employees' Retirement System of Georgia and was employed 
  1-22    in a position otherwise covered by this retirement system 
  1-23    but who was not eligible for membership in this retirement 
  1-24    system on July 1, 1998, may make an irrevocable election 
  1-25    to become a member by so notifying the board of trustees 
  1-26    not later than December 31, 2000. Any such person shall be 
  1-27    credited with service in this retirement system only for 
  1-28    actual service in such position. The Employees' Retirement 
  1-29    System of Georgia shall transfer to this retirement system 
  1-30    all employer and employee contributions paid by or on 
  1-31    behalf of any such member with regular interest thereon. 
  1-32    The member is authorized, but not required, to pay to the 
  1-33    board of trustees such additional amount as the member 
  1-34    desires, each payment to be made within 12 months of 
 
 
 
                                 -1- 
 
 
 
  2- 1    electing to become a member of this retirement system. 
  2- 2    Such member shall receive only such creditable service, 
  2- 3    not to exceed the actual years of service, as that amount 
  2- 4    will warrant without creating any actuarial accrued 
  2- 5    unfunded liability to this retirement system calculated as 
  2- 6    if the member had either elected or rejected spouse's 
  2- 7    survivor's benefits at the member's option." 
 
  2- 8                           SECTION 2. 
 
  2- 9  This Act shall become effective on July 1, 2000, only if it 
  2-10  is determined to have been concurrently funded as provided 
  2-11  in Chapter 20 of Title 47 of the Official Code of Georgia 
  2-12  Annotated, the "Public Retirement Systems Standards Law"; 
  2-13  otherwise, this Act shall not become effective and shall be 
  2-14  automatically repealed in its entirety on July 1, 2000, as 
  2-15  required by subsection (a) of Code Section 47-20-50. 
 
  2-16                           SECTION 3. 
 
  2-17  All laws and parts of laws in conflict with this Act are 
  2-18  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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