---
title: O.C.G.A. § 47-6-24. Members’ account; accumulation account; crediting of interest and dividends.
collection: code
id: 47-6-24
cite_as: O.C.G.A. § 47-6-24 (2025)
canonical_url: https://georgiacommons.org/code/47-6-24
md_url: https://georgiacommons.org/code/47-6-24.md
text_url: https://georgiacommons.org/code/47-6-24/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=402
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/47-6.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 / GEORGIA LEGISLATIVE RETIREMENT SYSTEM / CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM
---

# O.C.G.A. § 47-6-24. Members’ account; accumulation account; crediting of interest and dividends.

(a) All of the assets of the system shall be credited, according to the purpose for which they are held, to either the members’ account or the accumulation account. The benefits under this chapter and all administrative expenses shall be paid from such accounts.

(b) The members’ account shall be the account in which the contributions made by members and regular interest credited on such amounts shall be held.

(c) The accumulation account shall be the account in which all reserves for the payment of the part of all retirement allowances and other benefits payable from contributions made by the state shall be held and from which all retirement allowances payable under the system and the administrative expenses shall be paid. All interest and dividends earned on the funds of the system shall be credited to the accumulation account.

## History

Ga. L. 1967, p. 259, § 17; Ga. L. 2005, p. 535, § 18/HB 460.