- Collection:
- Georgia Government Publications
- Serial:
- Legislative update (Employees' Retirement System of Georgia)
- Title:
- Legislative update (Employees' Retirement System of Georgia), 17 January 2014
- Creator:
- Georgia. Employees' Retirement System
- Contributor to Resource:
- Employees' Retirement System of Georgia, issuing body.
- Publisher:
- [Atlanta, Georgia] : Employees' Retirement System of Georgia, 2014-01-17
- Date of Original:
- 2014-01-17
- Subject:
- Labor laws and legislation--Georgia
- Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- state government records
- Type:
- Text
- Format:
- application/pdf
- Description:
- Began with: January 11-15, 2010.
Description based on: January 11-15, 2010 (harvested from www.ers.ga.gov); title from PDF masthead (Georgia Government Publications database, viewed July 26, 2016).
Latest issue consulted: March 21-25, 2016 (Georgia Government Publications database, viewed July 26, 2016). - External Identifiers:
- Call Number GA E400 .P1 L4 2014/1-17
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2014-s1-h17-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2014-s1-h17-belec-p-btext
- Language:
- eng
- Holding Institution:
- University of Georgia. Map and Government Information Library
- Rights:
-
Serving those who serve Georgia
E RSGA
Employees' Retirement System of Georgia
For the Week of: January 13 - 17, 2014 Legislative Days: 1 - 5
Employees' Retirement System of Georgia
Legislative Update
January 17, 2014
Page 1
Inside This Update
1 Session Convenes
1 Legislative Schedule
2 State of the State
2 Legislative Log
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
2014 Legislative Session Convenes
The House and Senate officially convened on Monday, January 13th for the first day of the 2014 Legislative Session.
The House elected Bill Reilly as the new clerk to replace Robbie Rivers, who retired last summer. The Senate has a new secretary; David Cook, to replace Robert Ewing, who retired last year as well.
Lawmakers hope to complete session and adjourn for the year around the middle of March due to primary dates for state and local elections being moved up to May 20th.
Legislative Adjournment Schedule Announced through January 24th
January 13 January 14 January 15 January 16 January 17 January 18-20 January 21 January 22 January 23 January 24
* Recess is when the General Assembly is not in Session.
Legislative Day 1 Legislative Day 2 Legislative Day 3 Legislative Day 4 Legislative Day 5
Recess* Legislative Day 6 Legislative Day 7 Legislative Day 8 Legislative Day 9
January 17, 2014
Page 2
Governor Nathan Deal Gives State of the State
Governor Nathan Deal gave his fourth State of the State Address as members of the House and Senate convened for a joint session on Wednesday, January 15th, at 11AM. Governor Deal welcomed members to the 2014 Legislative Session and highlighted his budget proposal for the upcoming year.
To view the full text of the Governor's State of the State Address, click here.
Legislative Log
Monday, January 13, 2014 No action was taken on retirement bills today.
Tuesday, January 14, 2014 No action was taken on retirement bills today.
Wednesday, January 15, 2014 No action was taken on retirement bills today.
Thursday, January 16, 2014 No action was taken on retirement bills today.
Friday, January 17, 2014
HB 761 Public Retirement Systems Standards Law; definition of annual required contribution; change references
This legislation updates the Public Retirement Standards Law relating to Governmental Accounting Standards Board (GASB) changes. GASB Statements 67 and 68 replace GASB Statements 25 and 27, which contained information relating to retirement system funding requirements, as well as financial reporting requirements. Since GASB Statements 67 and 68 only relate to financial reporting requirements and no longer reference funding requirements, the funding requirement references need to be replaced by references to accepted actuarial standards of practice as approved by the American Academy of Actuaries.
HB 761 was assigned to the House Retirement Committee.
January 17, 2014
Legislative Log (continued)
Page 3
HB 764 Georgia State Employees' Pension and Savings Plan; certain employees make contributions at rate of 5 percent unless otherwise specified; provide
The current tier for new hires of the ERS pension system contains both a defined benefit (DB) and a defined contribution (401(k)) component. Membership in the DB plan is mandatory for new hires; membership in the 401(k) plan is optional. Currently, new hires are automatically enrolled in the 401(k) plan with an initial contribution rate of 1% of their salary unless they opt out or otherwise elect to change their contribution rate. This bill changes the initial contribution rate to 5% of the employees' salary in order to take advantage of the full state offered match. Employees may continue to opt out or otherwise elect to change their contribution rate.
HB 764 was assigned to the House Retirement Committee.