Georgia CommonsHB 337: State Law Enforcement Officer Plan' or 'SLEO Plan'; enact
Introduced version, the latest LegiScan holds · Last action February 11, 2025 · Introduced
The text as LegiScan holds it, read from the PDF the legislature publishes with its margin line numbers, running heads, and page footers removed. Line breaks are joined into paragraphs here; no word is changed.
Underlined words are what the bill adds to current law and struck-through words are what it removes, as the printed bill shows them.
House Bill 337
By: Representatives Carson of the 46th, Hitchens of the 161st, Powell of the 33rd, Lumsden of the 12th, Momtahan of the 17th, and others
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the Employees' Retirement System of Georgia, so as to establish the State Law Enforcement Officer Plan to offer enhanced benefits for electing state law enforcement officers; to provide for irrevocable elections; to provide for conditions and limitations; to provide for deferred retirement option program accounts; to provide for definitions; to provide a short title; to provide for related matters; to provide conditions for an effective date and automatic repeal; to repeal conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the Employees' Retirement System of Georgia, is amended in Code Section 47-2-1, relating to definitions, by revising paragraph (37) and by adding a new paragraph to read as follows: "(37) 'State law enforcement officer' means any member employed by the:
(A) Uniform Division of the Department of Public Safety as an officer, a noncommissioned officer, or a trooper;
(B) Georgia Bureau of Investigation as an officer or agent;
(C) Department of Natural Resources as a game warden;
(D) Department of Revenue as an alcohol and tobacco officer or agent or as an officer or agent of the Special Investigations Unit;
(E) Motor Carrier Compliance Division as a sworn law enforcement officer; or
(F) Capitol Police Division of the Department of Public Safety as a sworn law enforcement officer.
(38) 'Within one year after discharge from the armed forces' means within one year after the termination of the member's active service in the military or naval forces of the United States and shall not include any military reserve or naval reserve service."
SECTION 2.
Said chapter is further amended by adding a new article to read as follows: "ARTICLE 11
47-2-400.
This article shall be known and may be cited as the 'State Law Enforcement Officer Plan' or 'SLEO Plan.'
47-2-401.
(a) As used in this article, the term 'electing officer' means a state law enforcement officer who, on or after July 1, 2026, is a contributing member of this retirement system and makes an irrevocable election to participate in the SLEO Plan in lieu of any other retirement system, plan, or program established under this chapter.
(b) Each eligible state law enforcement officer shall become an electing officer if he or she notifies the board of trustees in writing of such irrevocable election within 90 days of becoming a state law enforcement officer or July 1, 2026, whichever is later.
(c) No person who did not make a valid election pursuant to subsection (b) of this Code section shall be eligible for the enhanced benefits plan provided for in this article.
(d) In no event shall an electing officer be eligible to retire under this article at any point prior to July 1, 2031. If such an officer seeks to retire before July 1, 2031, he or she shall not be entitled to any of the enhanced benefits provided in this article, and the retirement system shall treat such officer as if he or she had not made the irrevocable election under this Code section.
47-2-402.
Each electing officer shall be entitled to all of the same benefits provided otherwise for similarly situated members of this retirement system, except that:
(1) Each electing officer shall contribute 5 percent of his or her earnable compensation to the retirement system;
(2) Each electing officer shall be eligible for retirement benefits to be determined in accordance with the following schedule:
(A) An electing officer shall receive a monthly retirement benefit equal to 10 percent of his or her average final compensation if he or she earns ten years of creditable service;
(B) For each of the years of creditable service from year 11 through year 15, an electing officer shall receive a monthly retirement benefit equal to 3 percent of his or her average final compensation;
(C) For each of the years of creditable service from year 16 through year 20, an electing officer shall receive a monthly retirement benefit equal to 5 percent of his or her average final compensation; and
(D) For each of the years of creditable service from year 21 through year 25, an electing officer shall receive a monthly retirement benefit equal to 6 percent of his or her average final compensation; and
(3)(A) After an electing officer obtains 25 years of creditable service in the SLEO Plan, his or her contributions pursuant to paragraph (1) of this Code section shall cease, and such officer's retirement benefit amount shall be calculated based upon his or her average final compensation at such time.
(B) On and after the date on which an electing officer's contributions cease pursuant to subparagraph (A) of this paragraph, if the officer does not elect to retire under the plan, his or her monthly retirement benefits shall be paid into such officer's DROP Account provided for in subsection (a) of Code Section 47-2-403 until he or she elects to retire. Such monthly payments shall accrue any postretirement benefit adjustments granted to other members of this retirement system.
47-2-403.
(a) The board of trustees shall establish a Deferred Retirement Option Program (DROP) Account for each eligible electing officer to deposit such officer's monthly benefit payments. The amounts in each account shall earn interest at a market rate to be determined by the board of trustees.
(b) Upon an electing officer's retirement, he or she shall be entitled to receive a lump sum, a partial lump sum, or an annuity payment from the funds in his or her DROP Account, including any interest therein. The board of trustees may also make available options to roll such funds into certain tax advantaged retirement accounts."
SECTION 3.
This Act shall become effective on July 1, 2026, only if it is determined to have been concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Standards Law"; otherwise, this Act shall not become effective and shall be automatically repealed in its entirety on July 1, 2026, as required by subsection (a) of Code Section 47-20-50.
SECTION 4.
All laws and parts of laws in conflict with this Act are repealed.