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GA HB418
Bill
Status
Introduced
2/17/2017
Primary Sponsor
Tommy Benton
Click for details
AI Summary
- Members of the Teachers Retirement System of Georgia with at least 5 years of membership service may purchase up to 24 months of creditable retirement service for international teaching performed after becoming a member, at full actuarial cost
- "International teaching service" is defined as working at least 30 hours per week as an educator at a school in a foreign country accredited by a recognized regional, national, or international accreditation body
- International teaching service completed on or before June 30, 2018, must be claimed prior to retirement, while service completed on or after July 1, 2018, must be claimed within 10 years of completing the service
- Members may apply only once for this creditable service and are ineligible if the international teaching service has been or will be used toward retirement benefits from any other source (excluding Social Security)
- Effective date is July 1, 2018, contingent on concurrent funding as required by the Public Retirement Systems Standards Law; the Act is automatically repealed if not funded
Legislative Description
Teachers Retirement System of Georgia; certain members shall be eligible to obtain creditable service for international teaching service; provide
Last Action
House Committee Favorably Reported By Substitute
2/8/2018
Full Bill Text
No bill text available