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HB 859 - Legislative Ret; certain Gen Assem members; membership

Bannister, Charles E (77th)	Lewis, Walter Jeffrey (14th)	Jamieson, Mary Jeanette (22nd)
Smith, Jr., Vance C (102nd)	Coleman, Terry L (142nd)	McBee, Louise (88th)

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

First Reader Summary

A BILL to amend Code Section 47-6-42 of the Official Code of Georgia Annotated, relating to election as to coverage under the Georgia Legislative Retirement System and related matters, so as to provide that members of the General Assembly shall have a one-time opportunity to elect membership in such retirement system; and for other purposes.

Code Sections - 47-6-43

HB 859                                            LC 21 5904S 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Article 3 of Chapter 6 of Title 47 of the Official 
  1- 2  Code of Georgia Annotated, relating to membership in the 
  1- 3  Georgia Legislative Retirement System, so as to provide that 
  1- 4  members of the General Assembly who previously rejected 
  1- 5  membership in the retirement system may elect membership 
  1- 6  within a certain time; to provide that such persons may 
  1- 7  obtain up to eight years of creditable service for prior 
  1- 8  service as a member of the General Assembly; to provide that 
  1- 9  the member shall pay the full actuarial cost of the granting 
  1-10  of such service; to provide that such creditable service 
  1-11  shall not be used to calculate retirement benefits; to 
  1-12  provide conditions for an effective date and automatic 
  1-13  repeal; to repeal conflicting laws; and for other purposes. 
 
  1-14       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-15                           SECTION 1. 
 
  1-16  Article 3 of Chapter 6 of Title 47 of the Official Code of 
  1-17  Georgia Annotated, relating to membership in the Georgia 
  1-18  Legislative Retirement System, is amended by inserting at 
  1-19  the end thereof the following: 
 
  1-20    "47-6-43. 
 
  1-21    (a) Any other provision of law to the contrary 
  1-22    notwithstanding, any person who is a member of the General 
  1-23    Assembly on July 1, 2000, and who rejected membership in 
  1-24    this retirement system may make a one time, irrevocable 
  1-25    election to become a member of this retirement system by 
  1-26    complying with the provisions of this Code section on or 
  1-27    before December 31, 2000. 
 
  1-28    (b) A member who elects membership in this retirement 
  1-29    system as provided in subsection (a) of this Code section 
  1-30    may obtain up to eight years of creditable service for 
  1-31    prior service as a member of the General Assembly by 
  1-32    paying to the board of trustees an amount the board 
  1-33    determines will warrant the granting of such service 
  1-34    without creating any unfunded actuarial accrued liability 
 
 
                                 -1- 
 
 
 
  2- 1    as to this retirement system. Any such creditable service 
  2- 2    shall not be used to calculate a retirement benefit under 
  2- 3    this retirement system, but shall be used only to satisfy 
  2- 4    the time required to become eligible to receive a benefit. 
 
  2- 5    (c) A member who elects membership pursuant to subsection 
  2- 6    (a) of this Code section may not withdraw from membership 
  2- 7    so long as he or she is a member of the General Assembly." 
 
  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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