Staff Analysis of the Legislation
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This bill would amend Code Section 47-17-44 of the O.C.G.A. to change the required contribution to receive service credit. It eliminates the previous rate of $20.00 per month plus 10% interest annually from the date the prior service was rendered to the date of payment for the claim. It would change that to an amount the actuary for TRS would determine so that it would not create any actuarial accrued unfunded liability to the fund. |