Legislative update, 2019 March 29

Serving those who serve Georgia

E RSGA
Employees' Retirement System of Georgia

For the Week of: March 25 - March 29, 2019 Legislative Days: 36 - 39

Employees' Retirement System of Georgia
Legislative Update

March 29, 2019
Inside This Update
1-4 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 25, 2019 HB 659 Retirement and pensions; age of eligibility for retirement benefits for appellate court judges; decrease
Beginning 7/1/2020, this bill decreases the retirement age of Appellate Court Judges from age 65 to age 60. It also allows surviving spouses, provided they are the designated beneficiary, to receive a monthly benefit without regard to whether the judge had reached age 60.
HB 659 was assigned to the House Retirement Committee.
HB 663 Georgia Judicial Retirement System; membership for certain persons employed in certain full time positions requiring admission to the State Bar of Georgia as a condition of employment; require
Beginning 7/1/2020, provides that certain positions in the newly created Georgia Business Court are eligible for JRS membership, while other employees are eligible for ERS membership.

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HB 663 was assigned to the House Retirement Committee.

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Legislative Log (continued)

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HB 664 Georgia Judicial Retirement System; membership for certain persons employed in certain full time positions requiring admission to the State Bar of Georgia as a condition of employment; require
Allows certain current and new employees of Legislative Counsel to elect membership in JRS beginning 7/1/2020.
HB 664 was assigned to the House Retirement Committee.
SB 262 Employees' Retirement System of Georgia; eligibility of beneficiary to make new retirement election; provide
Allows certain retirees who elected certain optional retirement allowances to change their election beginning 7/1/2020.
SB 262 was assigned to the Senate Retirement Committee.

Tuesday, March 26, 2019 HB 699 Employees' Retirement System; certain former members of the Georgia Judicial Retirement System may elect to resume active membership in the Georgia Judicial Retirement System upon obtaining certain employment; provide
State Agency Heads with six years of creditable service may elect ERS membership or reactivate JRS membership beginning 7/1/2020.
HB 699 was assigned to the House Retirement Committee.
Wednesday, March 27, 2019 HB 67 Georgia Legislative Retirement System; employee contributions; change certain provisions
Beginning 7/1/2020, 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.

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This legislation 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. "Term of office" is also defined in this bill as the period of time beginning when an individual receives his or her commission as a member of the General Assembly from the Secretary of State, which commission is issued in accordance to law until the second Monday in January of the next off-numbered year.
Active members on 7/1/2020 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 12/31/2020, they will only receive the $50 multiplied by the number of years of creditable service benefit.
HB 67 was forwarded for actuarial study by the House Retirement Committee and will be eligible for consideration during the 2020 Session.

Thursday, March 28, 2019 SB 117 Public Retirement Systems Standards Law; that does not require an individual to pay the full actuarial cost of obtaining such creditable service; prohibit passage of any law
Members who join on or after July 1, 2019 cannot obtain creditable service unless the member pays full actuarial cost for such service.
SB 117 received a DO PASS by Committee Substitute from the House Rules Committee and was placed on the House Debate Calendar for 3/29/2019.
SB 270 Retirement Benefits; appellate court judges; age of eligibility; decrease
Beginning 7/1/2020, this bill decreases the retirement age of Appellate Court Judges from age 65 to age 60. It also allows surviving spouses, provided they are the designated beneficiary, to receive a monthly benefit without regard to whether the judge had reached age 60.
SB 270 was assigned to the Senate Retirement Committee.
SB 271 Law Assistants; rename as law clerks and staff attorneys
Starting 7/1/2020, allows law clerks and staff attorneys previously employed by a Judicial Circuit to purchase up to four years of creditable service within six months of first or again becoming a member of ERS.
SB 271 was assigned to the Senate Retirement Committee.

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Friday, March 29, 2019 SB 117 Public Retirement Systems Standards Law; that does not require an individual to pay the full actuarial cost of obtaining such creditable service; prohibit passage of any law
Members who join on or after July 1, 2019 cannot obtain creditable service unless the member pays full actuarial cost for such service.
SB 117 received a DO PASS from the House by a vote of 160-0.