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GA SB248
Bill
Status
Engrossed
3/5/2020
Primary Sponsor
John Albers
Click for details
AI Summary
- Monthly dues for active members of the Georgia Firefighters' Pension Fund increased from $25.00 to $30.00 per month of service
- Tax on premiums charged by fire insurance companies for fire, lightning, extended coverage, inland marine, allied lines, and windstorm insurance increased from 1% to 1.15%
- Maximum monthly retirement benefit for persons retired prior to July 1, 2020, increased by $60.00 per month, with surviving spouses and selected beneficiaries receiving a proportional increase
- Effective date of July 1, 2020, contingent on concurrent funding as required by the Public Retirement Systems Standards Law; automatically repealed in its entirety if not concurrently funded
Legislative Description
Georgia Firefighters' Pension Fund; monthly dues, tax on premiums and maximum monthly benefit amount payable; increase
Last Action
House Second Readers
3/10/2020
Full Bill Text
No bill text available