- Collection:
- Georgia Government Publications
- Serial:
- Legislative update (Employees' Retirement System of Georgia)
- Title:
- Legislative update, 2018 March 2
- Contributor to Resource:
- Employees' Retirement System of Georgia
- Publisher:
- Atlanta, Ga. : Employees' Retirement System of Georgia
- Date of Original:
- 2018-03-02
- Subject:
- Labor laws and legislation--Georgia--Periodicals
Periodicals - Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- serials (publications)
- Type:
- Text
- Format:
- application/pdf
- Description:
- This publication contains retirement-related information from Georgia legislative sessions.
- External Identifiers:
- Call Number GA E400 .P1 L4 2018/3-2
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2018-s3-h2-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2018-s3-h2-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: February 26 - March 2, 2018 Legislative Days: 27 - 29
Employees' Retirement System of Georgia
Legislative Update
March 2, 2018
Inside This Update
1-2 Legislative Log
For More Information on Legislation, please visit: www.ers.ga.gov
Page 1
Legislative Log
Monday, February 26, 2018 SB 294 Retirement; certain public employers and employee contributions; Employees' Retirement System of Georgia; employed beneficiaries; require
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
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 by a vote of 52-0.
Ashley Waller Legal and Policy Research Analyst, ERSGA 404-603-5694 ashley.waller@ers.ga.gov
Tuesday, February 27, 2018 No retirement bills were considered.
March 2, 2018
Legislative Log (continued)
Page 2
Wednesday, February 28, 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 of Representatives by a vote of 117-42.
Thursday, March 1 - Friday, March 2, 2018
No retirement bills were considered.