Staff Analysis of the Legislation
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HB 571 amends Chapter 25 of Title 47 of the OCGA regarding elibility and survivors benefits for the Magistrates Retirement Fund. If a member of the Fund is in arrears for dues payments, he or she will become a suspended member on the 90th day. He or she can apply for reinstatement during the 30 day period of the next full office term and will not receive service credit while suspended. In addition, instead of receiving retirement benefits, the member can ask for a 100 percent joint life annuity, a joint and survivor annuity for 50% of the monthly retirement benefit, or the amount of the retirement benefit payable under the code section. If the stipulations change and the individual applying for retirement wishes to change conditions related to their designated survivor or spouse they can do so in writing to the Board. |
