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Official Code of Georgia Annotated

Title 47. RETIREMENT AND PENSIONS · Chapter 1. GENERAL PROVISIONS · Article 1. IN GENERAL

47-1-13. Maximum compensation used in computing employee and employer contributions.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    As used in this Code section, the term ‘‘eligible member’’ means a person who became a member of a public retirement or pension system prior to the plan year beginning after December 31, 1995.#

  2. (b)

    Any other provision of law to the contrary notwithstanding, the maximum compensation used in computing employee and employer contributions to or benefits due from any public retirement or pension system shall be the maximum compensation set forth in Section 401(a)(17) of the federal Internal Revenue Code, as now or hereafter amended; provided, however, that pursuant to Section 13212(d)(3)(A) of the federal Omnibus Budget Reconciliation Act of 1993 and the regulations issued under such section, eligible members are not subject to the limits of Section 401(a)(17) of the federal Internal Revenue Code, and the maximum compensation used for such computations for eligible members shall be the maximum amount allowed by the respective retirement or pension system to be so used on July 1, 1993.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 47-1-13, enacted by Ga. L. 1995, p. 351, § 1; Ga. L. 2009, p. 947, § 2/HB 202.

Other notes

The 2009 amendment, effective May 11, 2009, in subsection (b), inserted ‘‘federal’’ and inserted ‘‘pursuant to Section 13212(d)(3)(A) of the federal Omnibus Budget Reconciliation Act of 1993 and the regulations issued under such section, eligible members are not subject to the limits of Section 401(a)(17) of the federal Internal Revenue Code, and’’ near the middle, and substituted ‘‘members’’ for ‘‘employees’’ near the end.
U.S. Code.
The United States Internal Revenue Code Section 401(a)(17), referred to in subsection (b), is codified in 26 U.S.C. § 401. The Omnibus Budget Reconciliation Act of 1993, referred to in subsection (b), can be found at Pub. L. 103-66.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t47-(v35)-2010-pdf.pdf, Volume V35, 2010 edition, pages 18 to 19; merge action: carried; file SHA-256 670b44b1738a.