---
title: O.C.G.A. § 47-1-85. Assets of public retirement or pension system to be held in trust.
collection: code
id: 47-1-85
cite_as: O.C.G.A. § 47-1-85 (2025)
canonical_url: https://georgiacommons.org/code/47-1-85
md_url: https://georgiacommons.org/code/47-1-85.md
text_url: https://georgiacommons.org/code/47-1-85/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t47-(v35)-2010-pdf.pdf?sfvrsn=7d4bbd90_0#page=43
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.
up: https://georgiacommons.org/code/47-1.md
previous: https://georgiacommons.org/code/47-1-84.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: RETIREMENT AND PENSIONS / GENERAL PROVISIONS / CONFORMITY WITH FEDERAL LAW
---

# O.C.G.A. § 47-1-85. Assets of public retirement or pension system to be held in trust.

(a) The assets of a public retirement or pension system shall be held in trust, and it shall not be possible at the time prior to satisfaction of all liabilities to plan members and their beneficiaries under the public retirement or pension system for any part of said assets to be used for, or diverted to, purposes other than for the exclusive benefit of plan members and their designated beneficiaries and for paying reasonable expenses of the public retirement or pension system and trust fund.

(b) The board of trustees of a public retirement or pension system shall not engage in a transaction prohibited by Section 503(b) of the federal Internal Revenue Code.

## History

Code 1981, § 47-1-85, enacted by Ga. L. 2009, p. 947, § 8/HB 202.

## Effective Date

This Code section became effective May 11, 2009.