Plain English Breakdown
The official source confirms the plan exists but does not provide details on contribution rates or specific benefit amounts.
State Law Enforcement Officer Plan (HB338)
This bill creates a new retirement plan called the State Law Enforcement Officer Plan to offer enhanced benefits for state law enforcement officers who choose to join it.
What This Bill Does
- Establishes the State Law Enforcement Officer Plan within the Employees' Retirement System of Georgia.
- Offers enhanced retirement benefits specifically for electing state law enforcement officers.
- Requires that an officer's choice to join this plan be irrevocable once made.
- Sets specific conditions and limitations on how the plan operates.
- Creates accounts for a deferred retirement option program.
Who It Names or Affects
- State law enforcement officers in Georgia who elect to participate in the new plan.
- The Employees' Retirement System of Georgia, which will manage the new plan.
Limits and Unknowns
- The bill includes conditions for an effective date and automatic repeal, but specific dates are not listed in this summary.
- Conflicting laws will be repealed, though their names are not specified here.