Title 47 — Title 47

All 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. 1949, p. 138, § 8; Ga. L. 1973, p. 900…

Reserved. Repealed by Ga. L. 2010, p. 1207, § 6, effective July 1, 2010. option, credit, or election to which any person was entitled pursuant to such title on June 30, 2010, and the board of trustees of each public retirement system is authorized and directed to provide by regul…

The expense fund shall be the fund to which shall be credited state or federal funds, or both, to pay the administrative expense of the retirement system and from which shall be paid all expenses incurred in the administration and operation of the retirement system. (Ga. L. 1949,…

(a) After January 1, 1950, any person who becomes an employee of any employer which operates under a merit system of personnel administration and which is covered by the retirement system shall become a member of the retirement system as a condition of his or her employment, exce…

(a) As used in this Code section, the term: (1) ‘‘Employee’’ means full-time officers and employees of a new state agency; provided, however, that such term shall not mean an individual classified by an employer as an independent contractor or a leased employee within the meaning…

(a) Any other provisions of law to the contrary notwithstanding, and pursuant to Article VII, Section III, Paragraph I and Article III, Section X of the Constitution of Georgia and Chapter 18 of this title, there is established as of July 1, 1956, Division A of the Employees’ Ret…

Any other provision of this article to the contrary notwithstanding, any person who first becomes an employee of an employer at age 60 or later may elect not to become a member of this retirement system. Such election shall be made in writing to the board within 30 days of first …

(a) As used in this Code section, the term: 97 47-2-91 (1) ‘‘Classified member’’ means a member of the retirement system who is in the classified service of the State Personnel Administration provided for by Chapter 20 of Title 45. (2) ‘‘Commissioner’’ means the commissioner of p…

Reserved. Repealed by Ga. L. 2010, p. 1207, § 12, effective July 1, 2010. Editor’s notes. — This Code section was based on Ga. L. 1949, p. 138, § 4; Ga. L. 1953, Nov.-Dec. Sess., p. 160, § 3; Ga. L. 1956, p. 54, § 4; Ga. L. 1957, p. 283, § 3; Ga. L. 1959, p. 107, § 3; Ga. L. 1960…

Repealed by Ga. L. 2010, p. 1207, § 13, effective July 1, 2010. Editor’s notes. — This Code section was based on Code 1981, § 47-2-96.1, enacted by Ga. L. 1996, p. 730, § 1; Ga. L. 1998, p. 1111, § 1; Ga. L. 2006, p. 429, §§ 1, 2/HB 644. Ga. L. 2010, p. 1207, § 1, not codified by…

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 …

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.…

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…

(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 …

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…

(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…

(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…

(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…

(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…

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…

(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…

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…

(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…

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…

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…

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…

(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 …

(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 …

(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…

(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…

— 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…

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…

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.

(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…

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…

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…

(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…

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’…

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. (…

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…

(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; …

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.)

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…

(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 …

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

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.)

(a) It is declared to be the intent of the General Assembly to provide a method whereby the municipal corporations and certain other entities of this state may, in the discretion of their respective governing bodies, provide retirement and other benefits to their employees throug…

As used in this chapter, the term: (1) ‘‘Benefit system’’ or ‘‘system’’ means the Georgia Municipal Employees Benefit System created by this chapter. (2) ‘‘Board of trustees’’ or ‘‘board’’ means the Board of Trustees of the Georgia Municipal Employees Benefit System. (3) ‘‘Contra…

There is created a public corporation of this state to be known as ‘‘The Board of Trustees of the Georgia Municipal Employees Benefit System (GMEBS).’’ Said corporation shall be the successor to the Joint Municipal Employees Retirement System ( JMERS) and it is the intent of this…

(a) The board of trustees shall consist of 15 members. To be eligible for membership on the board of trustees, a person must be a citizen of this state. Members of the board of trustees shall be eligible to succeed themselves but shall not serve more than three consecutive full t…