SB157: SB157 Retirement; certain members or former members of the General Assembly to buy into the Georgia Legislative Retirement System; provide

Under current Georgia law, members of the General Assembly who never elected to join the Georgia Legislative Retirement System have no way to later get retirement credit for the years they served. This bill changes O.C.G.A. § 47-6-40 to give them that option. A member or former member who served at least four years or two full terms, and who was never a member of the retirement system, could apply to buy creditable service for that past time. The member would have to pay the board of trustees the full actuarial cost of the added service, meaning the payment covers what the pension will actually cost the system rather than a subsidized rate. By September 1, 2026, the Employees' Retirement System must mail a one-time notice to everyone eligible, explaining the option and stating the exact dollar amount owed. The change only takes effect July 1, 2026 if it is certified as funded under Georgia's Public Retirement Systems Standards Law; otherwise it is automatically repealed that same date.

• Lets a current or former member of the General Assembly who served at least four years or two full terms buy retirement credit for that past service, if they never previously joined the system.
• Requires the buying member to pay the board of trustees the full actuarial cost of the added creditable service, calculated by the board.
• Blocks anyone from getting this bought-in credit if the same service already counts toward creditable service in another public retirement system.
• Requires the Employees' Retirement System to send a one-time written notice by mail to every eligible member or former member by September 1, 2026, stating exactly what they would owe.
• Sets different monthly pension formulas depending on whether the member's service ended before January 1, 2022 or on/after that date.
• Makes the whole Act contingent on funding certification under the Public Retirement Systems Standards Law, with automatic repeal on July 1, 2026 if that certification fails.

Current and former Georgia state senators and representatives who served at least four years or two full terms but never joined the Georgia Legislative Retirement System, as well as the Employees' Retirement System, which must send notices and process buy-in applications and payments.

Legislators who skipped joining the pension system in the past would get a one-time chance to secure retirement credit for those years, provided they pay the full actuarial cost themselves. The change affects state pension obligations and depends on formal funding certification before it can take effect.

• Section 1 amends O.C.G.A. § 47-6-40 by redesignating subsection (e) as (f) and adding a new subsection (e) creating the buy-in option.
• New paragraph (e)(1) sets eligibility: at least four years or two full terms served, never a prior member of the system, an application to the board, and payment of the full actuarial cost.
• Paragraph (e)(2) bars buy-in credit if the same service could be counted under any other public retirement system created by Title 47.
• Paragraph (e)(3) requires a one-time written mailed notice from the Employees' Retirement System by September 1, 2026, disclosing eligibility and the exact payment amount owed.
• Paragraphs (e)(4) and (e)(5) set the monthly pension amount based on whether the member's service ended before or after January 1, 2022, referencing Code Section 47-6-80.
• Section 2 makes the Act effective July 1, 2026 only if funding is certified under the Public Retirement Systems Standards Law (Chapter 20 of Title 47), with automatic repeal otherwise.

1. 2026-03-09House Second Readers (House)
2. 2026-03-06House First Readers (House)
3. 2026-03-04Senate Passed/Adopted (Senate)
4. 2026-03-04Senate Third Read (Senate)
5. 2026-02-12Senate Read Second Time (Senate)
6. 2026-02-11Senate Committee Favorably Reported (Senate)
7. 2025-02-13Senate Read and Referred (Senate)
8. 2025-02-12Senate Hopper (Senate)

• Ricky Williams (R, SD-025)Primary sponsor
• Max Burns (R, SD-023)
• Marty Harbin (R, SD-016)
• Larry Walker (R, SD-020)
• Brian Strickland (R, SD-042)

1. PassedSenate voteMarch 4, 2026

   49 yea, 1 nay (1 not voting, 4 absent)

   Passage: Senate Vote #629

• legislative retirement
• pension buy-in
• state employee benefits
• Georgia Legislative Retirement System