---
title: O.C.G.A. § 45-18-33. Payments from deferred compensation funds for purchase of insurance, endowments, annuities, mutual funds, or savings from funds derived from deferral; custodian of assets of the fund.
collection: code
id: 45-18-33
cite_as: O.C.G.A. § 45-18-33 (2025)
canonical_url: https://georgiacommons.org/code/45-18-33
md_url: https://georgiacommons.org/code/45-18-33.md
text_url: https://georgiacommons.org/code/45-18-33/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t45-(v33)-2016-pdf.pdf?sfvrsn=cde47f8a_0#page=536
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: PUBLIC OFFICERS AND EMPLOYEES / EMPLOYEES’ INSURANCE AND BENEFITS PLANS / DEFERRED COMPENSATION PLANS
---

# O.C.G.A. § 45-18-33. Payments from deferred compensation funds for purchase of insurance, endowments, annuities, mutual funds, or savings from funds derived from deferral; custodian of assets of the fund.

Notwithstanding any other provision of law to the contrary, in order to carry out the provisions of the deferred compensation plan, the state or any county, municipality, or other political subdivision is authorized to make payments for the purchase of insurance, endowments, annuities, mutual funds, or savings from funds derived from the deferral of compensation. Such payments shall not be construed to be a prohibited use of the general assets of the state, county, municipality, or other political subdivision. The Board of Trustees of the Employees’ Retirement System of Georgia or the administrator of the plan shall have the power to arrange for a custodian for the holding of such insurance policies, funds, investments, and other assets of the fund.

## History

Ga. L. 1974, p. 198, § 5; Ga. L. 1981, p. 119, § 1; Ga. L. 2005, p. 134, § 1/HB 275.