GA SB249

Certified jail officers who meet Georgia Peace Officer Standards and Training Council requirements become eligible for membership in the Peace Officers' Annuity and Benefit Fund.

Monthly member dues increase from $20.00 to $25.00 effective July 1, 2020, with the board authorized to adjust dues annually between $25.00 and $50.00 beginning July 1, 2021, based on actuarial recommendations.

Replaces the prior tiered schedule for collecting portions of criminal and quasi-criminal fines and bond forfeitures with a flat rate of the greater of $10.00 or 10 percent of each fine or bond forfeiture, to be paid to the fund's secretary-treasurer.

Monthly retirement benefit per year of creditable service increases from $17.50 to $25.15 effective July 1, 2020, and further increases to $30.00 per year of creditable service on July 1, 2021, with benefits capped at 30 years of total service.

Effective date is July 1, 2020, contingent on concurrent funding as required by the Public Retirement Systems Standards Law; the Act is automatically repealed if funding requirements are not met.