- Collection:
- Georgia Government Publications
- Serial:
- Legislative update (Employees' Retirement System of Georgia)
- Title:
- Legislative update (Employees' Retirement System of Georgia) [Mar. 31, 2017]
- Creator:
- Georgia. Employees' Retirement System
- Contributor to Resource:
- Georgia. Employees' Retirement System
- Publisher:
- Atlanta, Ga. : Georgia. Employees' Retirement System
- Date of Original:
- 2017-03-31
- Subject:
- Georgia
- Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- publications (documents)
- 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 2017/3-31
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2017-s3-h31-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2017-s3-h31-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: March 27 - 31, 2017 Legislative Days: 39 - 40
Employees' Retirement System of Georgia
Legislative Update
March 31, 2017
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 404-603-5602 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
Monday, March 27, 2017 HB 312 Employees' Retirement System of Georgia; Board of Trustees; include a qualified Roth contribution program in compensation plans
This bill adds a Roth contribution option to both the state's 401(k) and 457 plans, collectively known as Peach State Reserves (PSR), beginning 1/1/2018.
HB 312 received a DO PASS from the Senate Rules Committee and was placed on the Senate debate calendar for 3/30/2017.
Tuesday, March 28, 2017
HB 624 Georgia Legislative Retirement System; define certain terms; change certain provisions
Beginning 7/1/2018, this bill will increase the monthly retirement benefit payable to Legislative Retirement System members by increasing the multiplier from $36 to $40 multiplied by the number of years of the member's creditable service.
This bill also defines Average Monthly Salary to mean the average of the monthly salary of a member during the 24 consecutive months of membership service producing the highest such average. Additionally, Monthly Salary is defined to mean the full rate of the total combined regular monthly salary, not including any per diems, allowances, or expense reimbursements payable to a member, plus any additional regular monthly salary payable to the member pursuant to resolution adopted by the General Assembly.
March 31, 2017
Legislative Log (continued)
Page 2
Active members on 7/1/2018 will have an the opportunity to make an irrevocable choice between using $40 multiplied by the number of years of creditable service for retirement benefit calculation purposes or choosing a monthly service retirement allowance equal to 40% of the member's average monthly salary. Such members must make an election by 7/31/2018 and not leave office prior to 12/31/2018.
Beginning 7/1/2018, newly contributing members shall receive a monthly service retirement allowance equal to 40% of the member's average monthly salary.
HB 624 was assigned to the House Retirement Committee.
Wednesday, March 29, 2017
No retirement bills were considered.
Thursday, March 30, 2017 (final day of session) HB 312 Employees' Retirement System of Georgia; Board of Trustees; include a qualified Roth contribution program in compensation plans This bill adds a Roth contribution option to both the state's 401(k) and 457 plans, collectively known as Peach State Reserves (PSR), beginning 1/1/2018.
HB 312 received a DO PASS from the full Senate by a vote of 48 - 0.