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GA HB195
Bill
Status
Passed
6/29/2020
Primary Sponsor
Tommy Benton
Click for details
AI Summary
- Increases the death benefit payable to beneficiaries of deceased active members of the Georgia Firefighters' Pension Fund from $5,000 to $10,000, split equally among up to five selected beneficiaries
- Increases the guaranteed minimum benefit for deceased retired members (who did not elect survivor benefits) from $5,000 to $10,000, with beneficiaries entitled to the difference between $10,000 and total benefits already received by the member
- Requires beneficiaries to submit a proper application to the fund's executive director, accompanied by a certified copy of the member's death certificate
- Effective date of July 1, 2020, contingent on the Act being determined to have been concurrently funded as required by the Public Retirement Systems Standards Law; otherwise, the Act is automatically repealed in its entirety on that same date
Legislative Description
Georgia Firefighters' Pension Fund; increase benefit amount payable to beneficiaries after the member's death
Last Action
Effective Date
7/1/2020
Full Bill Text
No bill text available