GA HB338

Establishes the State Law Enforcement Officer Plan (SLEO Plan) within Georgia's Employees' Retirement System, offering enhanced retirement benefits for sworn peace officers across 25 specified state agencies including the Department of Corrections, GBI, Department of Public Safety, and Department of Natural Resources.

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.

Officers must make an irrevocable written election to participate within 90 days of becoming a state law enforcement officer or July 1, 2026, whichever is later; no retirements under this plan permitted before July 1, 2031.

Creates a Deferred Retirement Option Program (DROP) Account for officers who reach 25 years of service but continue working, with monthly benefits deposited into the account earning interest until retirement.

Effective date of July 1, 2026 is contingent on concurrent funding as required by the Public Retirement Systems Standards Law; the Act automatically repeals if funding requirements are not met.