Plain English Breakdown
The official text confirms the bill passed both chambers but does not provide the specific effective date or repeal end date in this summary view.
HB905: Allowing Retirement Fund Transfers for Georgia Judges and Prosecutors
This bill changes the law to allow members of the Employees' Retirement System who become superior court judges, district attorneys, or solicitors-general to transfer their funds into the Judicial Retirement System.
What This Bill Does
- Amends Code Section 47-23-64 regarding retirement fund transfers.
- Allows any member of the Employees' Retirement System to move money to the Georgia Judicial Retirement System if they become a superior court judge, district attorney, or solicitor-general.
- Provides for crediting service related to these transfers.
- Sets conditions for an effective date and includes an automatic repeal provision.
- Repeals older laws that conflict with these new transfer rules.
Who It Names or Affects
- Members of the Employees' Retirement System who become superior court judges, district attorneys, or solicitors-general.
- The Georgia Judicial Retirement System which receives transferred funds and credits service.
Terms To Know
- Employees' Retirement System
- A retirement system for state employees from which members may transfer funds under this bill.
- Georgia Judicial Retirement System
- The retirement system that receives transferred funds and credits service for eligible judicial officers.
Limits and Unknowns
- The specific effective date is not listed in the provided text.
- The exact end date for the automatic repeal provision is not specified here.
- Details on how much money can be transferred or any fees involved are not included.