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Official Code of Georgia Annotated

Title 47. RETIREMENT AND PENSIONS · Chapter 3. TEACHERS RETIREMENT SYSTEM OF GEORGIA · Article 5. SERVICE CREDITABLE TOWARD RETIREMENT BENEFITS

47-3-93. Additional creditable service for members with at least 25 years of creditable service.

Active

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

  1. (a)

    Any member of this retirement system who has accrued at least 25 years of creditable service may obtain up to an additional three years of creditable service as provided in this Code section. In order to obtain such additional creditable service, the member must:#

    1. (1)

      Make application to the board of trustees in such manner as the board deems appropriate; and#

    2. (2)

      Pay to the board of trustees an amount determined by the board of trustees to be sufficient to cover the full actuarial cost of granting the creditable service as provided in this Code section.#

    3. Such application and payment must be made in conjunction with and simultaneously with the member’s application for retirement. If the application for retirement is withdrawn or denied, the application to purchase creditable service shall be void.

  2. (b)

    Upon receipt of an application for additional creditable service, the board of trustees shall certify to the applicant the amount of the payment required by paragraph (2) of subsection (a) of 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.

History

Code 1981, § 47-3-93, enacted by Ga. L. 2002, p. 526, § 1; Ga. L. 2010, p. 427, § 7/HB 969.

Editor's notes

Ga. L. 2002, p. 526, § 1, which enacted this Code section, purported to amend Article 5 of Chapter 32 of Title 47 but actually amended Article 5 of Chapter 3 of Title 47.

Code Commission notes

Pursuant to Code Section 28-9-5, in 2002, Code Section 47-3-93, as enacted by Ga. L. 2002, p. 1218, § 1, was redesignated as Code Section 47-3-94.

Other notes

The 2010 amendment, effective May 24, 2010, added the ending undesignated paragraph in subsection (a).

Read the official page (the state's PDF, opened at the page this text was read from).

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, pages 317 to 318; merge action: carried; file SHA-256 670b44b1738a.