Legislative update, 2021 March 5

Serving those who serve Georgia

E RSGA
Employees' Retirement System of Georgia

For the Week of: March 1-5, 2021 Legislative Days: 25 - 27

Employees' Retirement System of Georgia
Legislative Update

March 5, 2021
Inside This Update
1-3 Legislative Log
4 Adjournment Schedule
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

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Legislative Log
Monday, March 1, 2021 HB 657 Employees' Retirement System; certain sworn law enforcement officers to be eligible for regular retirement benefits at the age of 55 years; allow
This bill expands the current retirement eligibility and benefits applying to certain law enforcement personnel who are ERS members so as to include officers, deputy commissioners, and commissioners of the Motor Carrier Compliance Division and the Capitol Police Division of the Department of Public Safety.
Under this legislation, which would become effective July 1, 2022, such groups of ERS members would be eligible to retire with normal benefits at the age of 55, provided they had at least 10 years of creditable service, and would also be eligible for Injury in the Line of Duty provisions as well as purchase of applicable, local creditable service.

Ashley Waller Legal and Policy Research Analyst, ERSGA 404-603-5694 ashley.waller@ers.ga.gov

HB 657 was assigned to the House Retirement Committee.
Tuesday, March 2, 2021 HB 173 Retirement and pensions; eligible large retirement system's assets that may be invested in alternative investments; increase percentage

This substitute provides changes to the process of selecting ERS Board members. Specifically, this bill would require that for the two Board positions that are members who have at least five (5) years of creditable service, the voting trustees to review and consider any individuals nominated by any organization of state retirees consisting of at least 1,000 members. Such provisions would become effect July 1, 2021 or upon the Governor's signature.

HB 173 received a DO PASS by Committee Substitute from the House Retirement Committee.

March 5, 2021
Legislative Log (continued)

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HB 191 Georgia Legislative Retirement System; employee contributions; change certain provisions
This bill increases Legislative Retirement System (LRS) member's monthly benefit payable at retirement by increasing the multiplier from $36 to $50. LRS member contributions will also increase to 9.5% of monthly salary. Retired members will also get the $50 multiplier increase included in their retirement benefit calculation. These increases will be effective 7/1/22.
This legislation also defines "Monthly Salary" 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 odd-numbered year.
HB 191 was forwarded for actuarial investigation by the House Retirement Committee.

Wednesday, March 3, 2021
SB 250 Georgia Legislative Retirement System; retirement allowance; increase
This bill increases Legislative Retirement System (LRS) member's monthly benefit payable at retirement by increasing the multiplier from $36 to $50. Retired members will also get the $50 multiplier increase included in their retirement benefit calculation. These increases will be effective 7/1/22.
SB 250 was discussed during the Senate Retirement Committee, but no action was taken.
SB 251 Georgia Legislative Retirement System; define certain terms; provisions
This bill increases Legislative Retirement System (LRS) member's monthly benefit payable at retirement by increasing the multiplier from $36 to $50. LRS member contributions will also increase to 9.5% of monthly salary. Retired members will also get the $50 multiplier increase included in their retirement benefit calculation. These increases will be effective 7/1/22.
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.
SB 251 was discussed during the Senate Retirement Committee, but no action was taken.

March 5, 2021
Thursday, March 4, 2021 No retirement bills were considered.

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Friday, March 5, 2021 HB 173 Retirement and pensions; eligible large retirement system's assets that may be invested in alternative investments; increase percentage
This bill provides changes to the process of selecting ERS Board members. Specifically, this bill would require that for the two Board positions that are members who have at least five (5) years of creditable service, the voting trustees to review and consider any individuals nominated by any organization of state retirees consisting of at least 1,000 members. Such provisions would become effect July 1, 2021 or upon the Governor's signature.
HB 173 received a DO PASS from the House Rules Committee and will be on the House debate calendar for 3/8/2021.

March 5, 2021

Final Legislative Adjournment Schedule Announced

March 2 March 3 March 4 March 5 March 6-7 March 8 March 9 March 10 March 11 March 12-14 March 15 March 16 March 17 March 18 March 19-21 March 22 March 23 March 24 March 25 March 26 March 27-28 March 29 March 30 March 31

Recess (Committee Work Day) Legislative Day 26
Recess (Committee Work Day) Legislative Day 27 Recess
Legislative Day 28 (Crossover) Legislative Day 29 Legislative Day 30 Legislative Day 31 Recess Legislative Day 32 Legislative Day 33 Legislative Day 34 Legislative Day 35 Recess Legislative Day 36 Legislative Day 37
Recess (Committee Work Day) Legislative Day 38
Recess (Committee Work Day) Recess
Legislative Day 39 Recess (Committee Work Day) Legislative Day 40 (Sine Die)

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Locations