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HB 0678 - Employees' Retirement System; creditable service; provide

Tracking Level: Monitor
Sponsor: Houston,Penny 170th
Last Action: 3/20/2007 - House Second Readers
House Committee: Ret
Assigned To:
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Retirement & CompensationNext Bill

Staff Analysis of the Legislation

Amend 47-2-99.  Relating to the applicability of creditable service in the Employees� Retirement System of Georgia for person employed in a temporary full-time position.  Any member of the retirement system who was, immediately prior to becoming a member, employed in a position in which he or she was covered under Chapter 22 of this tile, relating to the Georgia Defined contribution Plan, may obtain creditable service for his or her total prior service as a participant in such plan under the conditions contained in this Code section.  One month of creditable service shall be granted for each 160 hours of credited service, not to exceed 12 months of creditable service for all service rendered during any single calendar year.  A member wishing to obtain such service shall pay to the board such amount as determined by the actuary.  In order to obtain creditable service a member must make application to the board no later than December 31, 2008 or within six months of becoming a member of this system.

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