Official Code of Georgia Annotated

Title 47. RETIREMENT AND PENSIONS · Chapter 23. GEORGIA JUDICIAL RETIREMENT SYSTEM · Article 5. CONTRIBUTIONS

47-23-83. Termination of membership prior to vesting.

Active

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

Whenever any member of this retirement system terminates his or her membership prior to acquiring a vested right to any retirement benefits and withdraws his or her total employee contributions, plus regular interest, from the funds held by the board, the following shall occur:
(1)
The employer’s contributions paid to the board on behalf of such withdrawing member shall continue to be held within the funds controlled and administered by the board and shall not be returned to the employer; and#
(2)
The employer’s contributions paid to the board on behalf of such withdrawing member shall be treated as actuarial gains and shall be applied toward the future decrease of employer’s contributions and shall not be used or applied to increase retirement benefits to other members of the retirement system.#

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, § 47-23-83, enacted by Ga. L. 1998, p. 513, § 1.

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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 719; merge action: carried; file SHA-256 670b44b1738a.

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