Legislative update, 2018 February 16

Serving those who serve Georgia

E RSGA
Employees' Retirement System of Georgia

For the Week of: February 12 - 16, 2018 Legislative Days: 19 - 22

Employees' Retirement System of Georgia
Legislative Update

February 16, 2018
Inside This Update
1-2 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 Director, Legislative Affairs Division, ERSGA 404-603-5646 kelly.moody@ers.ga.gov

Legislative Log
Monday, February 12, 2018 No retirement bills were considered.

Page 1

Tuesday, February 13, 2018 HB 135 Employees' Retirement System of Georgia; creditable service for certain law enforcement officers; expand
Certain law enforcement members of the Employees' Retirement System (ERS) with at least ten years of service may purchase up to five years of certain non-vested local government law enforcement service, provided such members are not eligible to receive a present or future benefit from the local government. Members must pay full actuarial cost for the service.
HB 135 received a DO PASS by Committee Substitute from the Senate Retirement Committee.

SB 294 Retirement; certain public employers and employee contributions; Employees' Retirement System of Georgia; employed beneficiaries; require

This bill requires that employers that employ an Employees' Retirement System (ERS) retiree pay both the employer and employee contributions for the retiree to ERS while the retiree is employed. The retiree would continue to receive their pension benefit; however, they would not earn any creditable service in the retirement system. This provision would not apply if the employing agency certifies the rehired retiree is an independent contractor. Existing 1,040 restrictions are unchanged by this legislation.

SB 294 received a DO PASS by Committee Substitute from the Senate Retirement Committee.

February 16, 2018
Legislative Log (continued)

Page 2

Wednesday, February 14, 2018
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 (LRS) members by increasing the multiplier from $36 to $50 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.
Active members on 7/1/2018 will receive the greater benefit of either $50 multiplied by the number of years of creditable service for retirement benefit calculation purposes or a monthly service retirement allowance equal to 38% of the member's average monthly salary. If an active member leaves office prior to 12/31/2018, they will only receive the $50 multiplied by the number of years of creditable service benefit.
HB 624 received a DO PASS by Committee Substitute from the House Retirement Committee.
Thursday, February 15 - Friday, February 16, 2018
No retirement bills were considered.