For the Week of: March 21 - 25, 2011 Legislative Days: 31 - 33 Legislative Update Employees' Retirement System of Georgia March 25, 2011 Page 1 Inside This Update 1 Adjournment Schedule 1 Legislative Log For More Information on Legislation, please visit: www.ers.ga.gov Contact Us Pamela L. Pharris Director, ERSGA 404-603-5602 pamela.pharris@ers.ga.gov Jim Potvin Deputy Director, ERSGA 404-603-5605 jim.potvin@ers.ga.gov Final Legislative Adjournment Schedule Announced March 28 March 29 March 30 March 31 April 1 April 2 - 11 April 12 April 13 April 14 * Recess is when the General Assembly is not in Session. Legislative Day 34 Legislative Day 35 Legislative Day 36 Legislative Day 37 Legislative Day 38 Recess* Legislative Day 39 Recess* Legislative Day 40 LEGISLATIVE LOG Kelly L. Moody Legislative Liaison and Assistant Director, ERSGA 404-603-5646 kelly.moody@ers.ga.gov Danise Thaxton Executive Assistant to the Director, ERSGA 404-603-5602 danise.thaxton@ers.ga.gov Monday, March 21, 2011 No action was taken on Retirement Bills today. Tuesday, March 22, 2011 No action was taken on Retirement Bills today. Wednesday, March 23, 2011 HB 293 - Retirement bills; define a certain term This bill amends the definition of a fiscal retirement bill in the Public Retirement Systems Standards to include any bill or amendment which grants a public retirement system an insurable interest in active or retired members, or authorizes or directs a public retirement system to expend or obligate funds to purchase life insurances on its members. A bill of such nature will be required to go through the Retirement Committee. March 25, 2011 LEGISLATIVE LOG - Continued Page 2 HB 293 received a DO PASS from the Senate Retirement Committee. HB 297 - Retirement and pensions; public systems prohibited from expending funds for certain purposes; provide This bill prevents any public retirement system from having an insurable interest in the system's active or retired members unless benefits are paid to a designated beneficiary or the member's estate. HB 297 received a DO PASS from the Senate Retirement Committee. HB 308 - Public retirement systems; duties of boards of trustees; provide Prior to July 1, 2010, boards of trustees of public retirement systems were subject to applicable provisions in Title 53 dealing with Common Law fiduciary duties. However, an oversight occurred when the statute was amended last session. This bill adds back the needed references concerning Common Law fiduciary duties for boards of trustees of public retirement systems. HB 308 received a DO PASS from the Senate Retirement Committee. Thursday, March 24, 2011 No Bills were considered today due to the General Assembly being in recess. Friday March 25, 2011 No Bills were considered today due to the General Assembly being in recess.