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HB 0974 - Another retirement bill correction

Tracking Level: Monitor
Sponsor: Howard Maxwell
Last Action: 3/12/2014 - Senate Read Second Time
House Committee: Ret
Senate Committee: RET
Assigned To:
RetirementNext Bill

Staff Analysis of the Legislation

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.


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