HB924: HB924 Legislative Retirement System; match benefit amounts payable to former and current retired legislators to benefits payable to legislators who were in office on or after January 1, 2022

Georgia lawmakers who served before January 1, 2022 currently earn a smaller retirement benefit than those serving on or after that date. Under current law, retired legislators from the older group receive $28.00 per year of creditable service in their monthly pension, plus $200.00 per year of service as a presiding officer, while legislators who were contributing members on or after January 1, 2022 already receive $50.00 per year of creditable service plus the same $200.00 presiding-officer add-on. This bill rewrites O.C.G.A. § 47-6-80 to raise the base multiplier for the older group from $28.00 to $50.00 per year of service, matching the higher rate. The change would only take effect on July 1, 2026, and only if state actuaries certify it is 'concurrently funded' under Georgia's Public Retirement Systems Standards Law; if not funded, the bill automatically repeals itself on that date.

• Raises the monthly retirement allowance multiplier in O.C.G.A. § 47-6-80(d) from $28.00 to $50.00 per year of creditable service for retired and former legislators covered by that subsection.
• Aligns benefits for legislators who left office before January 1, 2022 with the higher formula already given to members who served on or after that date.
• Keeps the existing additional $200.00 per year of presiding creditable service (for those who served as presiding officers) unchanged.
• Conditions the entire law on a certified funding determination under Georgia's Public Retirement Systems Standards Law (O.C.G.A. Chapter 20 of Title 47), taking effect July 1, 2026 only if funded.
• Automatically repeals the whole Act on July 1, 2026 if the funding certification is not obtained.

Former and currently retired members of the Georgia General Assembly who receive pensions through the Georgia Legislative Retirement System, particularly those who left office before January 1, 2022 and are still on the lower benefit formula.

Retired legislators under the older formula would see their monthly pension amount increase to match what more recently serving members already get, but only if state actuaries confirm the change is properly funded; otherwise the increase never takes effect and the law disappears.

• Section 1 revises O.C.G.A. § 47-6-80(d), changing the per-year-of-service multiplier from $28.00 to $50.00 for retirement allowances, while keeping the $200.00 per year presiding creditable service add-on.
• Section 1 leaves subsection (c.1) unchanged, which already gives members contributing on or after January 1, 2022 the $50.00 per year formula.
• Section 2 makes the Act effective July 1, 2026 only if it is certified as concurrently funded under the Public Retirement Systems Standards Law (O.C.G.A. § 47-20-50); otherwise it is automatically repealed on that date.
• Section 3 repeals any conflicting laws.

1. 2026-01-12House Second Readers (House)
2. 2025-04-04House First Readers (House)
3. 2025-04-04House Hopper (House)

• Lehman Franklin (R, HD-160)Primary sponsor
• Butch Parrish (R, HD-158)
• Ron Stephens (R, HD-164)
• Jon Burns (R, HD-159)
• Tyler Smith (R, HD-018)

• legislative pensions
• public retirement systems
• state government benefits
• Georgia General Assembly retirement