Bill Text: GA HB54 | 2009-2010 | Regular Session | Introduced

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Bill Title: Georgia Judicial Retirement System; survivors' benefits; provisions

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Engrossed - Dead) 2010-02-05 - Senate Read and Referred [HB54 Detail]

Download: Georgia-2009-HB54-Introduced.html

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09 LC 21 9981

House Bill 54

By: Representatives Lunsford of the 110th and Levitas of the 82nd

A BILL TO BE ENTITLED
AN ACT

To amend Code Section 47-23-105 of the Official Code of Georgia Annotated, relating to survivors' benefits under the Georgia Judicial Retirement System, ceasing spouses' benefits, vesting, and designation of survivors benefits, so as to provide that certain members of such retirement system who rejected spouses' benefits may elect such benefits by paying to the board of trustees such amount as determined by the actuary as necessary to grant such benefit without creating any accrued actuarial liability; to provide that in order to vest for spouses' benefits, such member must have at least ten years of membership service; to provide conditions for an effective date and automatic repeal; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Code Section 47-23-105 of the Official Code of Georgia Annotated, relating to survivors' benefits under the Georgia Judicial Retirement System, ceasing spouses' benefits, vesting, and designation of survivors benefits, is amended in subsection (b) by adding a new paragraph to read as follows:

"(3) Any member, other than a subject to paragraph (2) of this subsection, who rejected the spouses' benefits provided by this Code section pursuant to paragraph (1) of this subsection may subsequently obtain such benefits by so notifying the board in writing and by tendering to the board of trustees such amount as determined by the actuary as necessary to grant such benefit without creating any accrued actuarial liability as to this retirement system. In order to vest for spouses' benefits, the member must have at least ten years of membership service."

SECTION 2.

This Act shall become effective on July 1, 2010, only if it is determined to have been concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Standards Law"; otherwise, this Act shall not become effective and shall be automatically repealed in its entirety on July 1, 2010, as required by subsection (a) of Code Section 47-20-50.

SECTION 3.

All laws and parts of laws in conflict with this Act are repealed.