GA HB337

Establishes the State Law Enforcement Officer Plan (SLEO Plan) within Georgia's Employees' Retirement System, offering enhanced retirement benefits for eligible state law enforcement officers who make an irrevocable election to participate on or after July 1, 2026.

Covers officers from six agencies: Department of Public Safety Uniform Division, Georgia Bureau of Investigation, Department of Natural Resources game wardens, Department of Revenue alcohol/tobacco officers, Motor Carrier Compliance Division, and Capitol Police Division.

Requires electing officers to contribute 5% of earnable compensation and provides a tiered benefit structure: 10% of average final compensation at 10 years, plus 3% per year for years 11-15, 5% per year for years 16-20, and 6% per year for years 21-25, reaching a maximum of 70% at 25 years.

Creates a Deferred Retirement Option Program (DROP) Account where monthly benefits are deposited after 25 years of service if the officer continues working; funds earn market-rate interest and can be withdrawn as lump sum, partial lump sum, or annuity upon retirement.

Effective date is July 1, 2026, contingent on concurrent funding as required by the Public Retirement Systems Standards Law; officers cannot retire under this plan's enhanced benefits prior to July 1, 2031.