GA SB143

Allows Georgia Firefighters' Pension Fund members to retire at age 50 (instead of 55) if their age plus years of creditable service equal at least 80, with benefits subject to early retirement reduction factors ranging from 0.70 at age 50 to 0.94 at age 54

Permits members who retire under the new age-50 provision to continue working as firefighters or volunteers while receiving retirement benefits, without paying monthly dues or accruing additional creditable service

Enables retired members who return to work and retired under certain provisions to pay monthly dues and earn creditable service during reemployment, eliminating the previous seven-year minimum service requirement for benefit increases

Authorizes the Georgia Firefighters' Pension Fund to invest up to 10 percent of its total assets in investments rated below investment grade by nationally recognized rating agencies

Effective date is July 1, 2026, contingent on concurrent funding certification under the Public Retirement Systems Standards Law; automatically repeals if not funded