HB 588 — Employees' Retirement System of Georgia; member may purchase annuity; revise method and manner
Senate Read Second Time
A BILL to be entitled an Act to amend Article 3 of Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to employee and employer contributions and creation of funds for contributions, benefits, and administrative expenses, so as to revise the method and manner by which a member of the Employees' Retirement System of Georgia may purchase an annuity; to authorize the board of trustees to offer a supplemental guaranteed lifetime annuity to certain retired members purchased by transfer of funds from the state sponsored deferred compensation plans; to provide for related matters; to provide conditions for an effective date and automatic repeal; to repeal conflicting laws; and for other purposes.
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