DEPARTMENT
OF
AUDITS
AND
ACCOUNTS
270 Washington Street, S.W., Suite 1-156
Atlanta, Georgia 30334-8400
270 Washington Street, S.W., Suite 1-156
Atlanta, Georgia 30334-8400
Russell W.
Hinton
State Auditor
(404) 656-2174
State Auditor
(404) 656-2174
February
11, 2008
The Honorable Bill
Heath
State Senator
State Capitol, Room 109
Atlanta, Georgia 30334
State Senator
State Capitol, Room 109
Atlanta, Georgia 30334
SUBJECT: State
Auditor’s
Certification
Senate Bill (LC 21 9637)
Senate Bill (LC 21 9637)
Dear Senator
Heath:
This
bill would amend several provisions relating to the collection of membership
dues and fines and fees relating to the Superior Court Clerks’ Retirement
Fund. If this legislation is enacted, members would be assessed a late charge
if membership dues remain unpaid 60 days from the date such payment is due.
Additionally, members would not receive creditable service for any month in
which dues are in arrears on the last day of the calendar year in which such
payments were due.
This
bill would also specify that the authority responsible for collecting payments
due to the Superior Court Clerks’ Retirement Fund must remit payments to
the Fund on a monthly basis, or at such other times as the Board may provide.
Such payments will be due on the first day of the month, but shall be considered
timely if received by the fifteenth day of the month following the month in
which the payments were collected. These payments would be considered
delinquent if they are not remitted to the Fund within 60 days of the date on
which such remittal is due, and penalties would be imposed.
Finally,
this bill would authorize the Board to establish a rule or regulation
authorizing certain surviving spouses to receive benefits in the event the
member dies prior to retirement, provided the member satisfied all requirements
for retirement except for attaining 55 years of age. If such rule or regulation
is established, the surviving spouse would receive a monthly sum during his or
her lifetime that is not greater than 50 percent of the amount such member would
have received had he or she retired at 55 years of age. The actual percent will
be set by the Board of Trustees.
This
is to certify that this is a nonfiscal retirement bill as defined in the Public
Retirement Systems Standards Law.
Respectfully,
/s/ Russell
W. Hinton
State Auditor
State Auditor
RWH/cs