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HB 0605 - Georgia Judicial Retirement System; member who was serving in a full-time position on his or her retirement may use prior part-time service for vesting; provide

Tracking Level: Passed
Sponsor: Weldon, Tom 3rd
Last Action: 7/1/2016 - Effective Date
State Code Titles: 47
House Committee: Ret
Senate Committee: RET
Assigned To:
02. Supreme CourtNext Bill
03. Court of AppealsNext Bill
05. Superior CourtsNext Bill
06. State CourtsNext Bill
07. Juvenile CourtsNext Bill
08. Probate CourtsNext Bill
09. Magistrate CourtsNext Bill
10. Municipal CourtsNext Bill
Retirement & CompensationNext Bill

Staff Analysis of the Legislation
HB 605 amends Code Section 47-23-63 of the O.C.G.A., relating to full-time and part-time service and calculations. Section 1 revises Code Subsection (c) by implementing a ratio for calculation of benefits in relation to part-time and full-time service for vesting. The ratio determines benefits by dividing the average monthly compensation for the 24 consecutive month period producing the highest such average during the part-time service by the average monthly salary during the 24 consecutive month period producing the highest such average during the full-time service. This ratio allows a member of Georgia Judicial Retirement System who was serving in a full-time position on his or her retirement to use prior part-time service for vesting.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text