Official Code of Georgia Annotated

Title 47. RETIREMENT AND PENSIONS · Chapter 25. MAGISTRATES RETIREMENT FUND · Article 6. MISCELLANEOUS PROVISIONS

47-25-100. Insufficient funds from which to pay benefits.

Active

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

If the board determines that the funds derived from the sources provided for in this chapter are not actuarially sufficient at any time to enable the board to pay in full each person determined to be entitled to the benefits provided for, plus all contingent and other liabilities, then a prorated percentage of such payments shall be made to each person entitled thereto until the funds shall be replenished actuarially sufficient to enable the board to resume such payments in accordance with the terms of this chapter. In no event shall the board or any member thereof be liable to any person for any deficiency in payments made under this Code section.

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.

Code 1981, § 47-25-100, enacted by Ga. L. 2006, p. 246, § 1/SB 244.

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