Title 47 — Title 47
0 chapters · 311 sections in this title.
O.C.G.A. § 47-4-1 Short title
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This chapter shall be known and may be cited as the ‘‘Public School Employees Retirement System Act.’’ (Ga. L. 1969, p. 998, § 1.) 47-4-2. Definitions.
O.C.G.A. § 47-4-102 Optional retirement benefits
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(a) At any time prior to his retirement a member may elect or may revoke a previous election and make a new election to have his retirement benefit payable under one of the options set forth in subsections (c) and (d) of this Code section in lieu of the lifetime income he is othe…
O.C.G.A. § 47-4-103 Disability retirement benefits; determination of disability
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Any member who obtains a minimum of 15 years of creditable service and who becomes totally and permanently disabled to the extent that he is unable to perform the duties of his employment shall be entitled to receive a disability retirement benefit equal to the full retirement be…
O.C.G.A. § 47-4-105 Postretirement benefit adjustments
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The board is authorized to grant postretirement benefit adjustments from time to time for the purpose of maintaining essentially no less purchasing power for persons receiving benefits pursuant to the provisions of this chapter. Granting postretirement benefit adjustments shall b…
O.C.G.A. § 47-4-106 Return to public service of retired member
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(a) If any retired member who has not yet reached normal retirement age returns to service as a public school employee in any position which 374 47-4-106 normally requires membership in this retirement system, such member’s retirement benefit shall cease and the retired member sh…
O.C.G.A. § 47-4-2 Definitions
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As used in this chapter, the term: 352 47-4-2 (1) ‘‘Accumulated contributions’’ means the sum of all of the amounts deducted from the earnable compensation of a member and paid by the member to establish or reestablish credit for service, which amounts are credited to the member’…
O.C.G.A. § 47-4-21 Creation and administration of the retirement fund
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There is created the Public School Employees Retirement Fund, which shall be administered by the board. (Ga. L. 1969, p. 998, § 11.) 47-4-22. Membership of the board; expenses and per diem; quorum for the transaction of business; chairman, secretary, and treasurer of the board. (…
O.C.G.A. § 47-4-24 Legal adviser of the board
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The Attorney General shall be the legal adviser of the board. (Ga. L. 1969, p. 998, § 17; 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. 2010, p. 1207, § 1, not codifie…
O.C.G.A. § 47-4-25 Powers and duties of the board
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(a) The board is given the following powers and duties: (1) To provide for the collection of all money provided for in this chapter; (2) To provide for the payment of all administrative expenses; (3) To hear and decide all applications for retirement benefits under this chapter; …
O.C.G.A. § 47-4-27 Power of board to take, hold, and invest any gift, grant, or bequest
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The board may take any gift, grant, or bequest, any money, any real or personal property, or any other thing of value and hold or invest the same for the uses and purposes of the retirement system, in accordance with this chapter. (Ga. L. 1969, p. 998, § 15.)
O.C.G.A. § 47-4-30 Plan year designated
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For purposes of complying with federal Internal Revenue Service rules and regulations, the plan year for this retirement system shall be the 12 month period beginning on July 1 of each year. (Code 1981, § 47-4-30, enacted by Ga. L. 2009, p. 947, § 21/HB 202.) Effective date. — Th…
O.C.G.A. § 47-4-60 Amount of contributions; manner of payment
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(a) Each member shall contribute $4.00 monthly as the employee contribution toward the cost of the retirement system. Each local unit of administration shall deduct such amount each month from the compensation of each of its employees who is a member of the retirement system and …
O.C.G.A. § 47-4-61 Date for start of employee contributions
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No public school employee shall be obligated to make employee contributions to the retirement system until July 1, 1970, under subsection (a) of Code Section 47-4-29. (Ga. L. 1969, p. 998, § 23.) ARTICLE 5 SERVICE CREDITABLE TOWARD RETIREMENT
O.C.G.A. § 47-4-81 Effect of appropriations on credit for prior service
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Any provision of this chapter to the contrary notwithstanding, no credit shall be given any member for prior service until the General Assembly appropriates funds to amortize the prior service liability. (Ga. L. 1969, p. 998, § 24.)