SB 261: Magistrates Retirement Fund; early retirement benefit; provide

The Magistrates Retirement Fund of Georgia is a pension system for chief magistrates around the state, run by a Board of Commissioners. This bill changes three things about it. First, starting July 1, 2026, the board's makeup shifts from five sitting chief magistrates to four sitting chief magistrates plus one retired chief magistrate, alongside the Governor or a designee and a Governor appointee. Second, it raises the monthly dues magistrates pay into the fund from 3.42 percent to 4.0 percent of their capped average final monthly compensation. Third, it increases the benefit rate from 4 percent to 5 percent of average final monthly compensation per year of service, and raises the cap on how many years of service count toward that benefit from 20 to 28 years. The changes only take effect July 1, 2026, and only if state actuaries certify the fund is "concurrently funded" under Georgia's Public Retirement Systems Standards Law; otherwise the entire Act is automatically repealed that same date.

• Changes the Board of Commissioners of the Magistrates Retirement Fund, effective July 1, 2026, from five sitting chief magistrates to four sitting chief magistrates plus one retired chief magistrate member.
• Raises the monthly dues magistrates must pay into the retirement fund from 3.42 percent to 4.0 percent of their capped average final monthly compensation.
• Increases the retirement benefit rate from 4 percent to 5 percent of average final monthly compensation for each year of service.
• Raises the maximum number of years of service that count toward a retirement benefit from 20 years to 28 years.
• Makes the entire Act effective July 1, 2026 only if the fund is certified as concurrently funded under Georgia's Public Retirement Systems Standards Law (O.C.G.A. Chapter 20 of Title 47), and automatically repeals it otherwise.

Chief magistrates across Georgia who are members of the Magistrates Retirement Fund, both active and retired, as well as the Governor's office and the Council of Magistrate Court Judges, which help select and nominate board members that oversee the fund's operation.

Magistrates who pay into the fund would pay more each month, but could earn a larger pension by counting more years of service and getting a higher percentage per year, which could mean bigger retirement checks. The board overseeing the fund would also include a retired magistrate's perspective for the first time.

• Section 1 revises O.C.G.A. § 47-25-20 so that on and after July 1, 2026, the board shifts from five sitting chief magistrates to four sitting chief magistrates and one retired chief magistrate member.
• Section 2 revises O.C.G.A. § 47-25-41, raising monthly member dues from 3.42 percent to 4.0 percent of the capped average final monthly compensation.
• Section 3 revises O.C.G.A. § 47-25-81, raising the per-year benefit rate from 4 percent to 5 percent and raising the maximum years counted from 20 to 28.
• Section 4 ties the whole Act's effective date to certification that the fund is concurrently funded under the Public Retirement Systems Standards Law, with automatic repeal on July 1, 2026 if not certified.
• Section 5 repeals any conflicting laws.

1. 2026-05-11Effective Date 2026-07-01
2. 2026-05-11Act 490
3. 2026-05-11Senate Date Signed by Governor (Senado)
4. 2026-04-10Senate Sent to Governor (Senado)
5. 2026-04-02Senate Agreed House Amend or Sub (Senado)
6. 2026-03-31House Passed/Adopted By Substitute (Cámara de Representantes)
7. 2026-03-31House Third Readers (Cámara de Representantes)
8. 2026-03-31House Committee Favorably Reported By Substitute (Cámara de Representantes)

• Marty Harbin (R, SD-016)Patrocinador principal
• Brian Strickland (R, SD-042)
• Steve Gooch (R, SD-051)
• Billy Hickman (R, SD-004)
• Ricky Williams (R, SD-025)
• Lee Anderson (R, SD-024)
• John Carson (R, HD-046)

1. AprobadaVotación: Senado4 de marzo de 2026

   53 a favor, 1 en contra (0 sin votar, 1 ausentes)

   Passage By Substitute: Senate Vote #634

2. AprobadaVotación: Cámara de Representantes31 de marzo de 2026

   167 a favor, 0 en contra (3 sin votar, 6 ausentes)

   Passage: House Vote #824

3. AprobadaVotación: Senado2 de abril de 2026

   53 a favor, 0 en contra (0 sin votar, 1 ausentes)

   Agree To House Substitute: Senate Vote #956

• public pensions
• magistrate courts
• retirement benefits
• state employee benefits