- Collection:
- Georgia Government Publications
- Serial:
- Legislative update (Employees' Retirement System of Georgia)
- Title:
- Legislative update, 2018 March 23
- Creator:
- Georgia. Employees' Retirement System
- Contributor to Resource:
- Employees' Retirement System of Georgia, issuing body.
- Publisher:
- Atlanta, Ga. : Georgia. Employees' Retirement System
- Date of Original:
- 2018-03-23
- Subject:
- Labor laws and legislation--Georgia--Periodicals
- Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- periodicals
- 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 2018/3-23
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2018-s3-h23-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2018-s3-h23-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 19 - March 23, 2018 Legislative Days: 36 - 38
Employees' Retirement System of Georgia
Legislative Update
March 23, 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
Ashley Waller Legal and Policy Research Analyst, ERSGA 404-603-5694 ashley.waller@ers.ga.gov
Legislative Log
Monday, March 19 - Thursday, March 22, 2018 No retirement bills were considered.
Page 1
Friday, March 23, 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 from the Senate Retirement Committee.
March 23, 2018
Legislative Log (continued)
Page 2
SB 101 Employees' Retirement System of Georgia; full-time hourly employee with Department of Natural Resources; provide for creditable service for prior service
This bill allows an ERS member employed by the Department of Natural Resources prior to 11/1/16 to obtain Georgia Defined Contribution Plan (GDCP) service credit if they immediately became a member of ERS after such GDCP membership. Member must pay full actuarial cost. Application must be made to the Board of Trustees on or before 12/31/18 for such purchase.
SB 101 received a DO PASS AS AMENDED by the House Rules Committee.