Serving those who serve Georgia E RSGA Employees' Retirement System of Georgia Employees' Retirement System of Georgia 2016 Legislative Summary 2016 Enacted Legislation May 17, 2016 Inside This Update 1 Enacted Legislation 2 Vetoed Legislation 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 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 2016 Enacted Legislation HB 421 (Act 400) Retirement and pensions; officers employed by Department of Community Supervision shall be entitled to certain disability benefits; provide This bill is a companion bill to HB 310, which creates a new Department of Community Supervision. Certain employees of the new Department will remain eligible for enhanced disability benefits once transferred. Certain employees of the new Department currently not eligible for enhanced disability benefits would become eligible upon passage. Effective Date: 7/1/16 Signed by Governor: 4/26/16 HB 605 (Act 426) Georgia Judicial Retirement System; member who was serving in a full-time position on his or her retirement may use prior part-time service for vesting; provide This bill changes the vesting requirements for judges moving from part-time to full-time service and allows for an actuarial calculation of benefits upon transfer to full-time service and subsequent retirement. Effective Date: 7/1/16 Signed by Governor: 4/26/16 May 17, 2016 Page 2 2016 Enacted Legislation (continued) HB 690 (Act 432) Employees' Retirement System of Georgia; provide that certain law enforcement officers obtain creditable service in system under certain conditions; provisions This bill allows certain law enforcement members to purchase up to five years of certain local government authority service by paying full actuarial cost. Effective Date: 7/1/16 Signed by Governor: 4/26/16 SB 335 (Act 380) Retirement; permissible investments in commingled funds and collective investment funds; revise provision This bill adds state chartered banks or trust companies to the allowable list of commingled investments under Title 47. Effective Date: 7/1/16 Signed by Governor: 4/26/16 2016 Vetoed Legislation SB 243 (Veto #13) Georgia Judicial Retirement System; preservation of rights by certain persons; change certain provisions This bill allows Legislative Counsel members to choose to become JRS members by December 31, 2016 or within 90 days of employment. Veto Date: 5/3/16