Title 47 — Title 47
0 chapters · 311 sections in this title.
O.C.G.A. § 47-3-1 Definitions
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As used in this chapter, the term: (1) ‘‘Accumulated contributions’’ means the sum of all the amounts deducted from the earnable compensation of a member or paid by the member to establish or reestablish credit for service, which amounts are credited to his individual account in …
O.C.G.A. § 47-3-100 Service which is creditable toward a retirement allowance
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The retirement allowance of a member shall be based on the membership service rendered or established by him since he last became a member and, if he has a prior service certificate in full force and effect, the amount of the prior service so certified. (Ga. L. 1943, p. 640, § 4.…
O.C.G.A. § 47-3-102 Service which is creditable toward a retirement allowance
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Eligibility and application for retirement; retirement age; duration of benefits paid to a retired member; payment to maintain Teachers Retirement System. Early retirement after 30 years’ service; time for application; payment by member of actuarial cost. 47-3-127.1. 47-3-128. 47…
O.C.G.A. § 47-3-123 Benefits payable upon the death of a member before retirement
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(a) Upon death of any member in service, the beneficiary nominated by the member by means of a written designation duly executed and filed with the board of trustees shall be entitled to: (1) A cash refund of the member’s contributions and interest accumulated at the date of the …
O.C.G.A. § 47-3-126 Postretirement benefit adjustments
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The board of trustees is authorized to adopt a method of providing postretirement benefit adjustments for a beneficiary in his postretirement years. Such method of adjustment may result in the adoption by the board of trustees of a method of financing other than that described in…
O.C.G.A. § 47-3-126.1 Postretirement benefit adjustments effective July 1, 1984
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(a) As used in this Code section, the term ‘‘beneficiary’’ shall have the meaning specified in paragraph (7) of Code Section 47-3-1 and shall also mean and include any retired public school teacher who retired pursuant to any county, municipal, or local board of education retirem…
O.C.G.A. § 47-3-126.2 Postretirement benefit adjustments effective July 1, 1986
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(a) As used in this Code section, the term ‘‘beneficiary’’ shall have the meaning specified in paragraph (7) of Code Section 47-3-1 and shall also mean: (1) Any retired teacher who retired pursuant to any county, municipal, or local board of education retirement or pension system…
O.C.G.A. § 47-3-126.3 Postretirement benefit adjustments
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(a) As used in this Code section, the term ‘‘beneficiary’’ shall have the meaning specified in paragraph (7) of Code Section 47-3-1 and shall also mean and include any retired public school teacher who retired pursuant to any county, municipal, or local board of education retirem…
O.C.G.A. § 47-3-126.4 Postretirement benefit for beneficiary
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(a) As used in this Code section, the term ‘‘beneficiary’’ shall have the meaning specified in paragraph (7) of Code Section 47-3-1. (b) Subject to the limitations of subsection (c) of this Code section, effective July 1, 2006, the monthly retirement benefit of each beneficiary s…
O.C.G.A. § 47-3-24 Legal adviser of the board of trustees
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The Attorney General shall be the legal adviser of the board of trustees. (Ga. L. 1943, p. 640, § 6; Ga. L. 2010, p. 1207, § 65/SB 436.) The 2010 amendment, effective July 1, 2010, substituted ‘‘adviser’’ for ‘‘advisor’’ in this Code section. Editor’s notes. — Ga. L. 2010, p. 120…
O.C.G.A. § 47-3-26 Powers and duties of the board of trustees generally
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(a) The administration and responsibility for the proper operation of the retirement system and for placing this chapter into effect are vested in the board of trustees, which shall be organized immediately after a majority of the trustees provided for in Code Section 47-3-21 hav…
O.C.G.A. § 47-3-40 Funds in which assets of the retirement system are to be held
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All of the assets of the retirement system shall be credited according to the purpose for which they are held among three funds, to be known as the ‘‘annuity savings fund,’’ the ‘‘pension accumulation fund,’’ and the ‘‘expense fund.’’ (Ga. L. 1943, p. 640, § 8; Ga. L. 1962, p. 72…
O.C.G.A. § 47-3-41 Annuity savings fund generally
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(a) The annuity savings fund shall be the fund in which shall be accumulated the contributions deducted from the compensation of members to provide for their annuities. Contributions to and payments from the annuity savings fund shall be made as follows: (1) After the commencemen…
O.C.G.A. § 47-3-43 Pension accumulation fund generally
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The pension accumulation fund shall be the fund in which shall be held the reserves on all annuities in force and from which shall be paid all annuities and all benefits in lieu of annuities under this chapter. If a beneficiary is restored to membership, his annuity reserve shall…
O.C.G.A. § 47-3-47 Purpose of the expense fund
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The expense fund shall be the fund to which shall be credited the state funds appropriated to pay the administrative expenses of the retirement system and from which shall be paid all expenses incurred in its administration and operation. (Ga. L. 1943, p. 640, § 8; Ga. L. 1962, p…
O.C.G.A. § 47-3-65 Membership, rights, and benefits in local retirement funds
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Except as otherwise provided by paragraph (5) of subsection (e) of Code Section 47-3-60, teachers in the service of an employer operating a local retirement fund shall not be members of the Teachers Retirement System of Georgia. Such teachers shall make no contributions to this r…
O.C.G.A. § 47-3-68 Membership of eligible university system employees
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(a)(1) The provisions of this paragraph shall apply to persons employed prior to July 1, 2008. As used in this Code section, the term ‘‘eligible university system employee’’ means faculty and principal administrators employed by the University System of Georgia, as designated by …
O.C.G.A. § 47-3-90 Absence from employment because of pregnancy
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(a) A member who, prior to March 5, 1976, was employed by a public school system of this state in a capacity specified by subsection (a) of Code Section 20-2-850 may, subject to the limitations of subsection (b) and the requirements of subsection (c) of this Code section, obtain …
O.C.G.A. § 47-3-91 Credit for service for visiting scholars
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(a) As used in this Code section, the term ‘‘public college or university’’ means a college or university or other educational institution which is operated by or is under the control and management of a government or an agency or political subdivision of a government and which d…
O.C.G.A. § 47-3-92 Absence from employment because of sick leave; creditable service
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(a) For purposes of this Code section, the maximum amount of sick leave which may be accumulated in one year shall be one and one-fourth days per month of actual service. In the event any employer authorizes sick leave in excess of such amount, any such leave used in any year sha…
O.C.G.A. § 47-3-94 Editor’s notes
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— Ga. L. 2002, p. 526, § 1, which enacted this Code section, purported to amend Article 5 of Chapter 32 of Title 47 but actually amended Article 5 of Chapter 3 of Title 47. 47-3-94. Credit for service while employed by nonprofit corporation under contract with state agency; requi…
O.C.G.A. § 47-3-95 Credit for service in private schools
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A member who has completed at least five consecutive years of membership service in the public schools of Georgia or the University System of Georgia immediately prior to applying may obtain up to ten years of creditable service for service as a teacher in a private elementary or…