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03 SR107/CA/2
Senate Resolution
107
By: Senators Zamarripa of the 36th, Golden of the 8th, Brown of the 26th, Starr of the 44th, Dean of the 31st and others
ADOPTED SENATE
By: Senators Zamarripa of the 36th, Golden of the 8th, Brown of the 26th, Starr of the 44th, Dean of the 31st and others
ADOPTED SENATE
A RESOLUTION
Creating the Joint Study Committee on State Retirement Plan
Options; and for other purposes.
WHEREAS, in recent years many states and corporations have explored and implemented cost savings through the creation of retirement plan options, including but not necessarily limited to early retirement incentives; and
WHEREAS, the creation of retirement plan options may afford opportunities to better manage the employee compensation costs of state government; and
WHEREAS, Georgia´s Public Retirement Systems Standards Law ensures the fiscal soundness of the state´s public retirement programs by requiring concurrent funding of retirement system changes; and
WHEREAS, the issue of possible savings through retirement options also requires consideration of any costs of required concurrent funding; and
WHEREAS, these issues have not before received methodical study by the Georgia General Assembly and merit such consideration at this time.
NOW, THEREFORE, BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA that there is created the Joint Study Committee on State Retirement Plan Options to be composed of five members of the House of Representatives to be appointed by the Speaker of the House of Representatives, five members of the Senate to be appointed by the Senate Committee on Assignments, a representative of the Georgia Association of Educators; Service Employees International Union; the Georgia Retired Teachers Association; and the Professional Association of Georgia Educators appointed by the associations´ presidents. The Speaker of the House of Representatives shall designate a member of the House and the Senate Committee on Assignments shall designate a member of the Senate who shall serve as cochairpersons of the committee. The committee shall meet at the call of the cochairpersons.
BE IT FURTHER RESOLVED that the committee shall undertake a study of the issues mentioned above and any other issues related thereto and recommend any actions or legislation which the committee deems necessary or appropriate. The committee may conduct such meetings at such places and at such times as it may deem necessary or convenient to enable it to exercise fully and effectively its powers, perform its duties, and accomplish the objectives and purposes of this resolution. The members of the committee shall receive the allowances authorized for legislative members of interim legislative committees but shall receive the same for not more than ten days unless additional days are authorized. The several state retirement systems and their staffs shall cooperate fully with the committee in its proceedings and are authorized to make available to the committee expert advice from their staffs and other sources available to such plans. The funds necessary to carry out the provisions of this resolution shall come from the funds appropriated to the House of Representatives and Senate. In the event the committee makes a report of its findings and recommendations, with suggestions for proposed legislation, if any, such report shall be made on or before December 31, 2003. The committee shall stand abolished on December 31, 2003.
WHEREAS, in recent years many states and corporations have explored and implemented cost savings through the creation of retirement plan options, including but not necessarily limited to early retirement incentives; and
WHEREAS, the creation of retirement plan options may afford opportunities to better manage the employee compensation costs of state government; and
WHEREAS, Georgia´s Public Retirement Systems Standards Law ensures the fiscal soundness of the state´s public retirement programs by requiring concurrent funding of retirement system changes; and
WHEREAS, the issue of possible savings through retirement options also requires consideration of any costs of required concurrent funding; and
WHEREAS, these issues have not before received methodical study by the Georgia General Assembly and merit such consideration at this time.
NOW, THEREFORE, BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA that there is created the Joint Study Committee on State Retirement Plan Options to be composed of five members of the House of Representatives to be appointed by the Speaker of the House of Representatives, five members of the Senate to be appointed by the Senate Committee on Assignments, a representative of the Georgia Association of Educators; Service Employees International Union; the Georgia Retired Teachers Association; and the Professional Association of Georgia Educators appointed by the associations´ presidents. The Speaker of the House of Representatives shall designate a member of the House and the Senate Committee on Assignments shall designate a member of the Senate who shall serve as cochairpersons of the committee. The committee shall meet at the call of the cochairpersons.
BE IT FURTHER RESOLVED that the committee shall undertake a study of the issues mentioned above and any other issues related thereto and recommend any actions or legislation which the committee deems necessary or appropriate. The committee may conduct such meetings at such places and at such times as it may deem necessary or convenient to enable it to exercise fully and effectively its powers, perform its duties, and accomplish the objectives and purposes of this resolution. The members of the committee shall receive the allowances authorized for legislative members of interim legislative committees but shall receive the same for not more than ten days unless additional days are authorized. The several state retirement systems and their staffs shall cooperate fully with the committee in its proceedings and are authorized to make available to the committee expert advice from their staffs and other sources available to such plans. The funds necessary to carry out the provisions of this resolution shall come from the funds appropriated to the House of Representatives and Senate. In the event the committee makes a report of its findings and recommendations, with suggestions for proposed legislation, if any, such report shall be made on or before December 31, 2003. The committee shall stand abolished on December 31, 2003.