Serving those who serve Georgia E RSGA Employees' Retirement System of Georgia Employees' Retirement System of Georgia 2013 Legislative Summary 2013 Enacted Legislation June 1, 2013 Inside This Update 1 Enacted Legislation For More Information on Legislation, please visit: www.ers.ga.gov Contact Us Jim Potvin Executive Director, ERSGA 404-603-5605 jim.potvin@ers.ga.gov Kelly L. Moody Legislative Liaison and Communications Manager, ERSGA 404-603-5646 kelly.moody@ers.ga.gov Danise Thaxton Executive Assistant to the Director, ERSGA 404-603-5602 danise.thaxton@ers.ga.gov Page 1 2013 Enacted Legislation SB 142 (Act 215) Georgia Judicial Retirement System; board of trustees; authority to determine the time/circumstances of paying benefits; qualified plan under federal law This legislation requires that employers notify the retirement system when they hire a retired employee. The employer must provide reports to the retirement system regarding the number of hours the retiree works. If the retiree works more than 1,040 hours in any calendar year, the employer must notify the retirement system, and if they fail to do so, they will be required to reimburse the retirement system for any benefits wrongfully paid to the employee. The bill also has provisions providing the Judicial Retirement System Board of Trustees with the authority to comply with federally mandated requirements if a conflict arises between state and federal statute. This authority would normally be utilized only if action is required more quickly than enabling legislation can be enacted. Effective Date: 7/1/13 Signed by Governor on: 5/6/13 SB 143 (Act 216) Retirement System; board of trustees of public retirement systems; provide duties Prior to July 1, 2010, boards of trustees of public retirement systems were subject to applicable provisions in Title 53 dealing with Common Law fiduciary duties. However, an oversight occurred when the statute was amended. This bill adds back needed references concerning Common Law fiduciary duties for boards of trustees of public retirement systems. Effective Date: 7/1/13 Signed by Governor on: 5/6/13 June 1, 2013 Page 2 2013 Enacted Legislation (continued) SB 178 (Act 220) Georgia Legislative Retirement System; define a certain term; broaden certain provision This legislation provides the Legislative Retirement System Board of Trustees with the authority to comply with federally mandated requirements if a conflict arises between state and federal statute. This authority would normally be utilized only if action is required more quickly than enabling legislation can be enacted. The bill also clarifies the term public employer as it relates to rehired retirees. Effective Date: 7/1/13 Signed by Governor on: 5/6/13