GA SB157

Current and former Georgia General Assembly members who served at least four years or two full terms, and who never joined the Georgia Legislative Retirement System, may make an irrevocable election to buy into the system and receive creditable service for their prior legislative service.

Participants must pay the full actuarial cost of the creditable service as determined by the board of trustees at the time of their membership application.

The Employees' Retirement System must send written notice by September 1, 2026 to all eligible members and former members informing them of this buy-in opportunity and the exact payment amount required.

Monthly pension amounts depend on when service concluded: those finishing before January 1, 2022 receive benefits under one formula (Code Section 47-6-80(d)), while those finishing on or after that date receive benefits under a different formula (Code Section 47-6-80(c.1)).

The Act takes effect July 1, 2026 only if concurrently funded under the Public Retirement Systems Standards Law; otherwise it automatically repeals on that date.