Serving those who serve Georgia E RSGA Employees' Retirement System of Georgia For the Week of: February 11 - 15, 2013 Legislative Days: 15 - 18 Employees' Retirement System of Georgia Legislative Update February 18, 2013 Page 1 Inside This Update 1 Legislative Log Legislative Log Monday, February 11, 2013 For More Information on Legislation, please visit: www.ers.ga.gov Contact Us Jim Potvin Executive Director, ERSGA 404-603-5605 jim.potvin@ers.ga.gov Kelly L. Moody Legislative Liaison and Communications Manager 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 No action was taken on retirement bills today. Tuesday, February 12, 2013 SB 142 Georgia Judicial Retirement System; board of trustees; authority to determine the time/circumstances of paying benefits; qualified plan under federal law This legislation protects the tax qualification status of the retirement system plan relating to rehired retirees. SB 142 was assigned to the Senate Retirement Committee. SB 143 Retirement System; board of trustees of public retirement systems; provide duties 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. This bill adds back needed references concerning Common Law fiduciary duties for boards of trustees of public retirement systems. SB 143 was assigned to the Senate Retirement Committee. February 18, 2013 Legislative Log (continued) Page 2 Wednesday, February 13, 2013 HB 238 Public School Employees Retirement System; limitation on maximum level of benefits; clarify certain provisions This legislation is clarification to a bill enacted last session (SB 246/Act 763) regarding the Public School Employees' Retirement System (PSERS). The bill clarifies that no PSERS member who retires after 7/1/12 shall be entitled to receive a retirement benefit higher than the greater of the benefit level in effect on the date of his or her termination of employment or $15.00 per month. HB 238 received a DO NOT PASS from the House Retirement Committee. Thursday, February 14, 2013 HB 343- Retirement and pensions; update certain cross-references to Chapter 11 of Title 15 This bill updates references in Title 47 relating to the Juvenile Code effective July 1, 2013. The Juvenile Code is being updated and this legislation is a companion bill to the update. HB 343 was assigned to the House Retirement Committee. SB 143 Retirement System; board of trustees of public retirement systems; provide duties 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. This bill adds back needed references concerning Common Law fiduciary duties for boards of trustees of public retirement systems. SB 143 received a DO PASS from the Senate Retirement Committee. Friday, February 15, 2013 No bills were considered today due to the General Assembly being in recess.