HB905: HB905 Employees' Retirement System; any member shall be eligible to transfer funds to Judicial Retirement System; provide

26 LC 56 0425S The House Committee on Retirement offers the following substitute to HB 905: A BILL TO BE ENTITLED AN ACT To amend Code Section 47-23-64 of the Official Code of Georgia Annotated, relating to1 transfer of funds from the Employees' Retirement System of Georgia to the Georgia Judicial2 Retirement System by superior court judges, district attorneys, or solicitors-general and3 crediting service, so as to provide that any member of such ret irement system shall be4 eligible to transfer funds; to provide conditions for an effective date and automatic repeal;5 to repeal conflicting laws; and for other purposes.6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7 SECTION 1.8 Code Section 47-23-64 of the Official Code of Georgia Annotated , relating to transfer of9 funds from the Employees' Retirement System of Georgia to the Georgia Judicial Retirement10 System by superior court judges, district attorneys, or solicitors-general and crediting service,11 is amended by revising paragraph (1) of subsection (a) as follows:12 "(a)(1) Any superior court judge, state court judge, solicitor general, or district attorney13 member of this retirement system who was previously an active member of the14 Employees' Retirement System of Georgia may elect to have all contributions made by15 or on behalf of such member transferred from such retirement system to this retirement16 H. B. 905 (SUB) - 1 - 26 LC 56 0425S system. Any such member shall notify the board of trustees of each retirement system17 not later than December 31, 2002 2026, or within 90 days after first becoming a member18 of this retirement system, or within 90 days after entering service in a covered position,19 whichever date is later."20 SECTION 2.21 This Act shall become effective on July 1, 2026, only if it is determined to have been22 concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia23 Annotated, the "Public Retirement Systems Standards Law"; other wise, this Act shall not24 become effective and shall be automatically repealed in its ent irety on July 1, 2026, as25 required by subsection (a) of Code Section 47-20-50.26 SECTION 3.27 All laws and parts of laws in conflict with this Act are repealed.28 H. B. 905 (SUB) - 2 -