Georgia CommonsHB 895: Legislative Retirement System; increase retirement benefit amounts payable to certain legislators upon retirement
Introduced version, the latest LegiScan holds · Last action April 4, 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 895
By: Representative Stinson of the 150th
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 6 of Title 47 of the Official Code of Georgia Annotated, relating to the Georgia Legislative Retirement System, so as to increase the retirement benefit amounts payable to certain legislators upon retirement; 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 6 of Title 47 of the Official Code of Georgia Annotated, relating to the Georgia Legislative Retirement System, is amended in Code Section 47-6-80, relating to eligibility and application for a retirement allowance, early retirement, monthly retirement allowance, amount of retirement allowance, compliance with federal tax laws, and increases in retirement allowance, by revising subsection (c.1) and by adding a new subsection to read as follows:
"(c.1) In lieu of the monthly service retirement allowance provided in subsection (c.2) or (d) of this Code section, for any person who was a contributing member on January 1, 2022, or who first becomes a contributing member after January 1, 2022, upon retirement under subsection (a) of this Code section such member shall receive a monthly service retirement allowance equal to the sum of $50.00 for each year of such member's creditable service and an additional $200.00 for each year of such member's presiding creditable service. Any inactive or retired member who was not a contributing member on January 1, 2022, and who becomes a contributing member again after January 1, 2022, shall be eligible for the monthly service retirement allowance provided in this subsection for his or her membership service earned after January 1, 2022.
(c.2) In lieu of the monthly service retirement allowance provided in subsection (c.1) or (d) of this Code section, for any person who was a contributing member on January 1, 2026, or who first becomes a contributing member after January 1, 2026, upon retirement under subsection (a) of this Code section such member shall receive a monthly service retirement allowance equal to the sum of $75.00 for each year of such member's creditable service and an additional $300.00 for each year of such member's presiding creditable service. Any inactive or retired member who was not a contributing member on January 1, 2026, and who becomes a contributing member again after January 1, 2026, shall be eligible for the monthly service retirement allowance provided in this subsection for his or her membership service earned after January 1, 2026."
SECTION 2.
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 3.
All laws and parts of laws in conflict with this Act are repealed.