Title 47 — Title 47
0 chapters · 311 sections in this title.
O.C.G.A. § 47-22-1 Definitions
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As used in this chapter, the term: (1) ‘‘Accumulated contributions’’ means the sum of all amounts deducted from the compensation of a member’s salary and credited to such member’s individual account in this plan, together with earnings thereon as provided in this chapter. (2) ‘‘B…
O.C.G.A. § 47-22-10 Lump sum payment on death of member
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Upon the death of any member, a lump sum amount shall be paid to such person as the member has nominated by written designation, filed with the board; otherwise to the member’s estate. Such lump sum amount shall be equal to the total amount credited to the member’s account on the…
O.C.G.A. § 47-22-11 Retirement; option to receive periodic payment
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Any member shall be entitled to retire upon attaining the age of 65. Such member shall have the option to receive a periodic payment as permitted by the board. (Code 1981, § 47-22-11, enacted by Ga. L. 1992, p. 1288, § 1; Ga. L. 2005, p. 535, § 29/HB 460.) 690 T.47, C.23 GEORGIA …
O.C.G.A. § 47-22-2 Creation of Georgia Defined Contribution Plan
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There is created and placed under the administration of the Board of Trustees of the Employees’ Retirement System of Georgia the Georgia Defined Contribution Plan. (Code 1981, § 47-22-2, enacted by Ga. L. 1992, p. 1288, § 1.) 47-22-3. Executive secretary.
O.C.G.A. § 47-22-3 Executive secretary
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There is created an office known as the executive secretary of the Georgia Defined Contribution Plan, and the director of the Employees’ Retirement System of Georgia shall serve as the executive secretary of the plan. (Code 1981, § 47-22-3, enacted by Ga. L. 1992, p. 1288, § 1.) …
O.C.G.A. § 47-22-6 Legal adviser
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The Attorney General shall be the legal adviser of the board. (Code 1981, § 47-22-6, enacted by Ga. L. 1992, p. 1288, § 1; Ga. L. 2010, p. 1207, § 65/SB 436.) The 2010 amendment, effective July 1, 2010, substituted ‘‘adviser’’ for ‘‘advisor’’ near the end. Editor’s notes. — Ga. L…
O.C.G.A. § 47-22-7 Definitions
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Creation of Georgia Defined Contribution Plan. Executive secretary. Administration and operation of plan; records; payment of employees and expenses; investment. Trustee of funds of plan; power to invest funds; conflicts of interest as to investments; custody of funds; vouchers. …
O.C.G.A. § 47-22-8 Member contributions; earnings
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Each member shall contribute 7 1/2 percent of such member’s gross salary. Such contributions shall be made through payroll deductions. Such amount so deducted shall be credited to the individual account of the member. Earnings shall be credited to each member’s account pursuant t…