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GA SB167
Bill
Status
Engrossed
3/15/2022
Primary Sponsor
Nan Orrock
Click for details
AI Summary
- Lowers the minimum age at which appellate court judges (Supreme Court and Court of Appeals) may begin receiving retirement benefits from 65 to 60 years of age, except in cases of incapacity
- Reduces the age threshold for surviving spouse benefit eligibility from 65 to 60, allowing designated beneficiaries to receive 50% of the judge's entitled benefits regardless of whether the judge had attained age 60
- Applies to judges of the Court of Appeals (Judge, Presiding Judge, Chief Judge) and justices of the Supreme Court (Associate Justice, Presiding Justice, Chief Justice)
- Retains existing benefit structures, including the 75% salary retirement benefit after 10 years of service and the 7.5% employee contribution rate from earnable compensation
- Effective date conditioned on concurrent funding as required by the Public Retirement Systems Standards Law (Chapter 20 of Title 47); if not funded, the Act is automatically repealed in its entirety on July 1, 2022
Legislative Description
Retirement; semiannual postretirement benefit adjustments for all beneficiaries of the Employees' Retirement System of Georgia; provide
Last Action
House Second Readers
3/17/2022
Committee Referrals
Retirement3/16/2022
Retirement2/16/2021
Full Bill Text
No bill text available