07
LC 21 9238
Senate
Bill 162
By:
Senators Heath of the 31st, Tate of the 38th, Murphy of the 27th, Schaefer of
the 50th, Stoner of the 6th and others
AS
PASSED
AN
ACT
To
amend Code Section 47-2-123 of the Official Code of Georgia Annotated, relating
to allowance payable upon death, disability, or involuntary separation from
employment, restrictions on separating from employment, and restrictions on
entitlement to involuntary separation benefits, so as to provide that a person
who becomes a member of the Employees´ Retirement System of Georgia on or
after July 1, 2007, shall be entitled to a disability benefit based upon the
actual years of creditable service he or she had attained on the date of
retirement; to provide that no such person who is eligible for an equivalent
service retirement shall be entitled to receive a disability allowance; to
repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 47-2-123 of the Official Code of Georgia Annotated, relating to
allowance payable upon death, disability, or involuntary separation from
employment, restrictions on separating from employment, and restrictions on
entitlement to involuntary separation benefits, is amended by revising
subsection (c) as follows:
"(c)(1)
The provisions of this paragraph shall apply only to persons who are members of
the retirement system on June 30, 2007. Any member who is at least 60 years of
age upon disability retirement, involuntary separation from employment without
prejudice, or death shall receive the equivalent of a service retirement
allowance. Any such member who is under 60 years of age shall receive, as
appropriate, a disability allowance, allowance in case of involuntary separation
from employment without prejudice, or death allowance, which shall consist
of:
(A)
In the case of a member with at least 15 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 60 had the member continued in service to age 60 without
further change in compensation, provided that this subparagraph shall not apply
to a member whose employment was terminated by involuntary separation without
prejudice;
(B)
In the case of a member with at least 20 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 60 had the member continued in service to age 60 without further change in
compensation;
(C)
In the case of a member with at least 25 years of service, 75 percent of the
service retirement allowance which would have been payable upon service
retirement at age 65 had he or she continued in service without further change
in compensation; or
(D)
In the case of a member with at least 30 years of service, the service
retirement allowance which would have been payable upon service retirement at
age 65 had he or she continued in service without further change in
compensation.
Any
provisions of this chapter to the contrary notwithstanding, in the application
of subparagraphs (A), (B), (C), and (D) of this paragraph relating to allowances
other than for disability or death, projected retirement allowance computations
shall be made on the basis of the member´s highest total monthly earnable
compensation, as reflected by monthly contributions made during the last 24
calendar months in which he or she had made contributions, except that no salary
increase by adjustment in compensation in any manner in excess of 10 percent
during the last 12 months of membership service shall be included in the
projected computation.
(2)
The provisions of this paragraph shall apply only to persons who first or again
become members of the retirement system on or after July 1, 2007. Any member
who has at least 15 years of creditable service and who becomes disabled before
becoming eligible for a service retirement as provided in subsection (a) of
Code Section 47-2-110 shall be eligible to retire forthwith without regard to
age and to receive a disability retirement allowance calculated upon the number
of years of creditable service attained to the date of retirement and based upon
his or her highest average monthly compensation during a period of 24
consecutive calendar months while a member of the retirement system. No member
who is eligible for an equivalent service retirement shall be eligible to apply
for a disability retirement allowance."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.