23 LC 43 2718
H. B. 746
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House Bill 746
By: Representative Carson of the 46
th
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the
1
Employees' Retirement System of Georgia, so as to include certain compensation2
supplements in the calculation of "earnable compensation"; to provide for related matters;3
to provide conditions for an effective date and automatic repeal; to repeal conflicting laws;4
and for other purposes.5
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:6
SECTION 1.7
Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the Employees'8
Retirement System of Georgia, is amended by revising paragraph (15) of Code Section9
47-2-1, relating to definitions, as follows:10
"(15) 'Earnable compensation' means the full rate of regular compensation payable to a11
member employee for his or her full normal working time, excluding
including any12
compensation supplements other than those derived from local funds. In cases where13
compensation includes maintenance, the board of trustees shall fix the value of that part14
of the compensation not paid in cash. Such term shall include contributions made to a15
qualified transportation plan, within the meaning of Section 132(f) of the federal Internal16 23 LC 43 2718
H. B. 746
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Revenue Code, and before tax or salary deferral contributions made under Section 125,
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401(k), 402(g)(3), 457, or 414(h) of the federal Internal Revenue Code to this retirement18
system or to any other retirement plan maintained by an employer."19
SECTION 2.20
This Act shall become effective on July 1, 2024, only if it is determined to have been21
concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia22
Annotated, the "Public Retirement Systems Standards Law"; otherwise, this Act shall not23
become effective and shall be automatically repealed in its entirety on July 1, 2024, as24
required by subsection (a) of Code Section 47-20-50.25
SECTION 3.26
All laws and parts of laws in conflict with this Act are repealed.27