This bill would amend Code Section 47-4-101 of the O.C.G.A. to limit the amount of a retirement benefit for members of PSERS. Retirees on or before July1, 2012 would have their pensions set at $15 per month times their years’ service, and that figure would never change for them. Retirees after that point would get the amount that was set for them by the General Assembly at the time of their retirement (never less than the $15 factor), and their amount would be frozen at that point.