Plain English Breakdown
The official text mentions conditions for an effective date and automatic repeal but does not specify what those dates or conditions are.
Adding Georgia Tax Court Judges to the Judicial Retirement System
This bill allows full-time judges in the Georgia Tax Court to join the state's judicial retirement system and sets rules for their benefits, service time, and funding.
What This Bill Does
- Provides membership in the Georgia Judicial Retirement System for each judge employed full time in the Georgia Tax Court
- Sets rules for counting work history as creditable service toward retirement eligibility
- Allows judges to transfer funds from other systems into this one
- Requires payment of the full actuarial cost for these new members
- Defines earnable monthly compensation used to calculate contributions and benefit amounts
Who It Names or Affects
- Judges employed full time in the Georgia Tax Court
- Other individuals who are employed by the court
- The Georgia Judicial Retirement System administration
Terms To Know
- Creditable service
- Time worked that counts toward retirement benefits and eligibility.
- Actuarial cost
- The calculated amount of money needed to pay for future retirement benefits based on math estimates.
Limits and Unknowns
- The bill includes conditions that determine when it becomes effective and when it automatically ends.
- Specific dates for the start or end of these changes are not listed in the provided text.
- Details about how much money will be transferred or paid are not included.