47-2-72. Procedure for electing not to become a member.

Code 1981, § 47-2-72, enacted by Ga. L. 1998, p. 171, § 1; Ga. L. 2010, p. 1207, § 9/SB 436.

Ga. L. 2010, p. 1207, § 1, not codified by the General Assembly, provides that: ‘‘The intent of this Act is to repeal obsolete and inoperative provisions and to make certain stylistic corrections in Title 47 of the Official Code of Georgia Annotated. Nothing in this Act shall deny, abridge, increase, renew, revive, or on any way affect any right, benefit, option, credit, or election to which any person was entitled pursuant to such title on June 30, 2010, and the board of trustees of each public retirement system is authorized and directed to provide by regulation for the continuation of any such right, benefit, option, credit, or election not otherwise covered in this Act; provided, however, that any such right, benefit, option, credit, or election shall be subject to the statutory provisions in effect on June 30, 2010.’’

The 2010 amendment, effective July 1, 2010, deleted the former subsection (a) designation and deleted former subsection (b), which read: ‘‘Any active member of this retirement system on July 1, 1998, who was age 60 or older when he or she first became a member of this retirement system may elect to withdraw his or her membership and receive the total of his or her employee contributions with regular interest thereon. Such election shall be made in writing to the board not later than August 1, 1998; otherwise, the member shall remain a member of this retirement system. The election provided for in this subsection shall be irrevocable.’’