- Collection:
- Georgia Government Publications
- Serial:
- Legislative update (Employees' Retirement System of Georgia)
- Title:
- Legislative update, 2021 February 19
- Creator:
- Employees' Retirement System of Georgia
- Contributor to Resource:
- Employees' Retirement System of Georgia, issuing body.
- Publisher:
- Atlanta, Ga. : Employees' Retirement System of Georgia
- Date of Original:
- 2021-02-19
- Subject:
- Labor laws and legislation--Georgia--Periodicals
- Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- periodicals
- Type:
- Text
- Format:
- application/pdf
- Description:
- This publication contains retirement-related information from Georgia legislative sessions.
- External Identifiers:
- Call Number GA E400 .P1 L4 2021/2-19
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2021-s2-h19-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-be400-b-pp1-bl4-b2021-s2-h19-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 15 - 19, 2021 Legislative Days: 17 - 19
Employees' Retirement System of Georgia
Legislative Update
February 19, 2021
Inside This Update
1-2 Legislative Log
Legislative Log
Monday, February 15, 2021
Page 1
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
No retirement bills were considered.
Tuesday, February 16, 2021
SB 167 Retirement; semiannual postretirement benefit adjustments for all beneficiaries of the Employees' Retirement System of Georgia; provide
Currently, all individuals who became members of the Employees' Retirement System (ERS) on or after July 1, 2009 are not eligible to receive postretirement benefit adjustments.
This bill would remove such prohibition and provide all retirees and beneficiaries of ERS with a 1.5% postretirement benefit adjustment every six (6) months after the effective date of July 1, 2022. It also states that no members with membership dates on and after July 1, 2009 shall receive any postretirement adjustments that were granted before July 1, 2022.
During instances where the revenue collected in the most recently completed fiscal year has decreased by 3% or more or if the State experiences a decline in revenue for three (3) consecutive months, the Governor may suspend such required postretirement benefit adjustments, in whole or part, by executive order. Such executive orders are subject to revocation, revision, or extension by the General Assembly and they may not be issued in more than two (2) consecutive calendar years or more than three (3) times in a period of 10 consecutive calendar years.
SB 167 was assigned to the Senate Retirement Committee.
February 19, 2021
Page 2
Wednesday, February 17, 2021
SB 167 Retirement; semiannual postretirement benefit adjustments for all beneficiaries of the Employees' Retirement System of Georgia; provide
Currently, all individuals who became members of the Employees' Retirement System (ERS) on or after July 1, 2009 are not eligible to receive postretirement benefit adjustments.
This bill would remove such prohibition and provide all retirees and beneficiaries of ERS with a 1.5% postretirement benefit adjustment every six (6) months after the effective date of July 1, 2022. It also states that no members with membership dates on and after July 1, 2009 shall receive any postretirement adjustments that were granted before July 1, 2022.
During instances where the revenue collected in the most recently completed fiscal year has decreased by 3% or more or if the State experiences a decline in revenue for three (3) consecutive months, the Governor may suspend such required postretirement benefit adjustments, in whole or part, by executive order. Such executive orders are subject to revocation, revision, or extension by the General Assembly and they may not be issued in more than two (2) consecutive calendar years or more than three (3) times in a period of 10 consecutive calendar years.
SB 167 was discussed during the Senate Retirement Committee meeting, but no action was taken.
Thursday, February 18 - Friday, February 19, 2021 No retirement bills were considered.