Legislative update, 2014 March 21

Serving those who serve Georgia

E RSGA
Employees' Retirement System of Georgia

For the Week of: March 17 - 21, 2014 Legislative Days: 39 - 40

Employees' Retirement System of Georgia
Legislative Update

March 21, 2014

Page 1

Inside This Update
1 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

Legislative Log
Monday, March 17, 2014
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If the member has withdrawn contributions from JRS, the member may establish such amount as the member desires; however, no service shall be granted in excess of the service credited under JRS. No service shall be credited that will create an accrued liability on the system.
HB 477 received a DO PASS from the Senate Rules Committee and was placed on the Senate debate calendar for 3/18/14. HB 761 Public Retirement Systems Standards Law; definition of annual required contribution; change references
This legislation updates the Public Retirement Systems Standards law by providing a reference date of June 15, 2013 for Governmental Accounting Standards Board (GASB) Statements 25 and 27. GASB provides financial reporting requirements for retirement systems.

HB 761 received a DO PASS from the Senate Rules Committee and was placed on the Senate debate calendar for 3/20/14.

March 21, 2014
Legislative Log (continued)

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Tuesday, March 18, 2014 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If the member has withdrawn contributions from JRS, the member may establish such amount as the member desires; however, no service shall be granted in excess of the service credited under JRS. No service shall be credited that will create an accrued liability on the system.
HB 477 received a DO PASS from the Senate by a vote of 53-0. SB 339 Retirement and Pension; revise, modernize, correct errors/omissions in said title; Code Revision Commission
This bill is a clean-up bill to correct typographical, stylistic, and other errors and omissions in Title 47.
SB 339 received a DO PASS from the House of Representatives by a vote of 121-44.
Wednesday, March 19, 2014 No bills were considered due to the General Assembly being in recess.

Thursday, March 20, 2014 HB 761 Public Retirement Systems Standards Law; definition of annual required contribution; change references
This legislation updates the Public Retirement Systems Standards law by providing a reference date of June 15, 2013 for Governmental Accounting Standards Board (GASB) Statements 25 and 27. GASB provides financial reporting requirements for retirement systems.
HB 761 received a DO PASS from the Senate by a vote of 53-0.
Friday, March 21, 2014
No bills were considered due to the General Assembly being in adjournment for 2014.