First Reader Summary

A BILL to be entitled an Act to amend Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the Employees´ Retirement System of Georgia, so as to change the provisions relating to retirement allowances; to provide that certain members with at least 30 years of service shall be eligible to retire forthwith and upon retirement shall be paid not less than the service retirement allowance which would have been payable upon service retirement at the age of 65 had such members continued in service without further change in compensation; to change the provisions relating to service retirement allowance and calculation of retirement benefits or allowances for certain members; to provide conditions for an effective date and for automatic repeal; to repeal conflicting laws; and for other purposes.

Code Sections Amended

47-2-120 \ 47-2-204 \ 47-2-225 \ 47-2-266 \ 47-2-334 \ 47-2-91 \ 47-2-96 \ 47-20-50