Official Code of Georgia Annotated

Title 47. RETIREMENT AND PENSIONS · Chapter 1. GENERAL PROVISIONS · Article 6. CONFORMITY WITH FEDERAL LAW

47-1-80. Distributions to conform to regulations issued under the Internal Revenue Code.

Active

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

Notwithstanding any other provision of this title to the contrary, distributions from any public retirement or pension system shall conform to a good-faith interpretation of Section 401(a)(9) of the federal Internal Revenue Code and the regulations promulgated pursuant to such section as applicable to a governmental plan within the meaning of Section 414(d) of the federal Internal Revenue Code and shall be implemented in accordance with the grandfathering provisions of such regulations applicable to annuity option distributions in effect on April 17, 2001.

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, § 47-1-80, enacted by Ga. L. 2005, p. 535, § 2/HB 460; Ga. L. 2009, p. 947, § 4/HB 202.

Other notes

The 2009 amendment, effective May 11, 2009, substituted ‘‘a good-faith interpretation of’’ for ‘‘the regulations issued under’’ and inserted ‘‘and the regulations promulgated pursuant to such section’’ in this Code section.

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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, page 33; merge action: carried; file SHA-256 670b44b1738a.