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GA SB267
Bill
Status
Engrossed
3/15/2022
Primary Sponsor
Sheikh Rahman
Click for details
AI Summary
- Active members of the Georgia Judicial Retirement System who earned creditable service as appellate court judges may transfer two or more years of creditable service from the appellate court judge's plan of the Employees' Retirement System of Georgia.
- Creditable service transfers are credited on a one-for-two basis, meaning members receive one year of credit in the Judicial Retirement System for every two years transferred from the appellate court judge's plan.
- Upon application, the Employees' Retirement System of Georgia must transfer employer and employee contributions paid by or on behalf of the individual, plus regular interest, for the years of creditable service being transferred.
- The Board of Trustees of the Georgia Judicial Retirement System is authorized to adopt rules and regulations to implement the transfer process.
- Effective date is July 1, 2022, contingent on a determination of concurrent funding under the Public Retirement Systems Standards Law; otherwise, the Act is automatically repealed in its entirety on that same date.
Legislative Description
Teachers Retirement System of Georgia; retired member who elected an optional retirement allowance; eligible to change any of such named beneficiaries; provide
Last Action
House Second Readers
3/17/2022
Committee Referrals
Retirement3/16/2022
Retirement2/26/2021
Full Bill Text
No bill text available