Legislative update (Employees' Retirement System of Georgia), 01 March 2013

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Employees' Retirement System of Georgia

Employees' Retirement System of Georgia
Legislative Update

For the Week of: February 25 - March 1, 2013 Legislative Days: 23 - 27

March 1, 2013

Page 1

Inside This Update
1 Legislative Log
3 Legislative Schedule
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

Legislative Log
Monday, February 25, 2013 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 Rules Committee and was placed on the Senate Debate Calendar for 2/26/13.
Tuesday, February 26, 2013
HB 477 Employees' Retirement System of Georgia; Georgia Judicial Retirement System; transfer service credit
This bill allows a member of the Employees' Retirement System of Georgia (ERS) who was previously an active member of the Judicial Retirement System (JRS) to transfer JRS service to ERS.
If a member has withdrawn his/her employee contributions from JRS, the member must provide notice to the Board of Trustees requesting a transfer to ERS. At that time, the member must pay the Board the total of such contributions, with regular interest thereon, and employee and employer contributions from JRS will be transferred to ERS.

HB 477 was assigned to the House Retirement Committee.

March 1, 2013
Legislative Log (continued)

Page 2

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 full Senate by a vote of 49-0.

Wednesday, February 27, 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 requires that employers notify the retirement system when they hire a retired employee. The employer must provide reports to the retirement system regarding the number of hours the retiree works. If the retiree works more than 1,040 hours in any calendar year, the employer must notify the retirement system, and if they fail to do so, they will be required to reimburse the retirement system for any benefits wrongfully paid to the employee.
The bill also has provisions providing the Employees' RetirementSystem Board ofTrustees with the authority to comply with federally mandated requirements if a conflict arises between state and federal statute. This authority would normally be utilized only if action is required more quickly than enabling legislation can be enacted.
SB 142 received a DO PASS from the Senate Rules Committee and was placed on the Senate Debate Calendar for 2/28/13.
SB 178 Georgia Legislative Retirement System; define a certain term; broaden certain provision
This legislation has provisions providing the Employees' Retirement System Board of Trustees with the authority to comply with federally mandated requirements if a conflict arises between state and federal statute. This authority would normally be utilized only if action is required more quickly than enabling legislation can be enacted.
The bill also clarifies the term public employer as it relates to rehired retirees.
SB 178 received a DO PASS by Committee Substitute from the Senate Retirement Committee.

March 1, 2013
Legislative Log (continued)

Page 3

Thursday, February 28, 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 requires that employers notify the retirement system when they hire a retired employee. The employer must provide reports to the retirement system regarding the number of hours the retiree works. If the retiree works more than 1,040 hours in any calendar year, the employer must notify the retirement system, and if they fail to do so, they will be required to reimburse the retirement system for any benefits wrongfully paid to the employee.
The bill also has provisions providing the Employees' RetirementSystem Board ofTrustees with the authority to comply with federally mandated requirements if a conflict arises between state and federal statute. This authority would normally be utilized only if action is required more quickly than enabling legislation can be enacted.
SB 142 received a DO PASS from the full Senate by a vote of 49 to 0.
Friday, March 1, 2013
No action was taken on retirement bills today.

Legislative Adjournment Schedule Announced through March 20th

March 5 March 6 March 7 March 8-10 March 11 March 12 March 13 March 14 March 15-19 March 20
* Recess is when the General Assembly is not in Session.

Legislative Day 29 Recess*
Legislative Day 30 Recess*
Legislative Day 31 Legislative Day 32 Legislative Day 33 Legislative Day 34
Recess* Legislative Day 35