23 LC 43 2852
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House Bill 824
By: Representatives Carson of the 46
th
, Hitchens of the 161
st
, Crowe of the 118
th
, Lumsden
of the 12
th
, Cheokas of the 151
st
, and others
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 establish the State Law Enforcement2
Officer Plan to offer enhanced benefits for electing state law enforcement officers; to provide3
for irrevocable elections; to provide for conditions and limitations; to provide for deferred4
retirement option plan accounts; to provide for definitions; to provide a short title; to provide5
for related matters; to provide conditions for an effective date and automatic repeal; to repeal6
conflicting laws; and for other purposes.7
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:8
SECTION 1.9
Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the Employees'10
Retirement System of Georgia, is amended in Code Section 47-2-1, relating to definitions,11
by revising paragraph (37) as follows:12
"(37) 'State law enforcement officer' means any member employed by the:
13
(A) Uniform Division of the Department of Public Safety as an officer, a14
noncommissioned officer, or a trooper;15
(B) Georgia Bureau of Investigation as an officer or agent;16 23 LC 43 2852
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(C) Department of Natural Resources as a game warden;17
(D) Department of Revenue as an alcohol and tobacco officer or agent or as an officer18
or agent of the Special Investigations Unit;19
(E) Motor Carrier Compliance Division as a sworn law enforcement officer; or20
(F) Capitol Police Division of the Department of Public Safety as a sworn law21
enforcement officer.22
(38) 'Within one year after discharge from the armed forces' means within one year after23
the termination of the member's active service in the military or naval forces of the24
United States and shall not include any military reserve or naval reserve service."25
SECTION 2.26
Said chapter is further amended by adding a new article to read as follows:27
"ARTICLE 1128
47-2-400.29
This article shall be known and may be cited as the 'State Law Enforcement Officer Plan'30
or 'SLEO Plan.'31
47-2-401.32
(a) As used in this article, the term 'electing officer' means each state law enforcement33
officer who, on or after July 1, 2024, is a contributing member of this retirement system34
and makes an irrevocable election to participate in the SLEO Plan in lieu of any other35
retirement system, plan, or program established under this chapter.36
(b) Each eligible state law enforcement officer shall become an electing officer if he or she37
notifies the board in writing of such irrevocable election within 90 days of becoming a state38
law enforcement officer, or July 1, 2024, whichever is later.39 23 LC 43 2852
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(c) No person who did not make a valid election pursuant to subsection (b) of this Code40
section shall be eligible for any of the enhanced benefits plan provided for in this article.41
(d) In no event shall an electing officer be eligible to retire under this article at any point42
prior to July 1, 2029. If such an officer seeks to retire before July 1, 2029, he or she shall43
not be entitled to any of the enhanced benefits provided in this article, and the retirement44
system shall treat such officer as if he or she had not made the irrevocable election under45
this Code section.46
47-2-402.47
Each electing officer shall be entitled to all of the same benefits provided otherwise for48
similarly situated members of this retirement system, except that:49
(1) Each electing officer shall contribute 5 percent of his or her earnable compensation50
to the retirement system;51
(2) Each electing officer shall be eligible for retirement benefits to be determined in52
accordance with the following schedule:53
(A) An electing officer shall receive a monthly retirement benefit equal to 10 percent54
of his or her average final compensation if he or she earns ten years of creditable55
service;56
(B) For each of the years of creditable service from year 11 through year 15, an57
electing officer shall receive a monthly retirement benefit equal to 3 percent of his or58
her average final compensation;59
(C) For each of the years of creditable service from year 16 through year 20, an60
electing officer shall receive a monthly retirement benefit equal to 5 percent of his or61
her average final compensation; and62
(D) For each of the years of creditable service from year 21 through year 25, an63
electing officer shall receive a monthly retirement benefit equal to 6 percent of his or64
her average final compensation; and65 23 LC 43 2852
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(3)(A) After an electing officer obtains 25 years of creditable service in the SLEO plan,66
his or her contributions pursuant to paragraph (1) of this Code section shall cease, and67
such officer's retirement benefit amount shall be calculated based upon his or her68
average final compensation at such time.69
(B) On and after such point, if the officer does not elect to retire under the plan, his or70
her monthly retirement benefits shall be paid into such officer's Deferred Retirement71
Option Program (DROP) Account until he or she elects to retire. Such monthly72
payments shall accrue any postretirement benefit adjustments granted to other members73
of this retirement system.74
47-2-403.75
(a) The board shall establish a DROP Account for each eligible electing officer to deposit76
such officer's monthly benefit payments. The amounts in each account shall earn interest77
at a market rate to be determined by the board.78
(b) Upon an electing officer's retirement, he or she shall be entitled to receive a lump sum,79
a partial lump sum, or an annuity payment from the funds in his or her DROP Account,80
including any interest therein. The board may also make available options to roll such81
funds into certain tax-advantaged retirement accounts."82
SECTION 3.83
This Act shall become effective on July 1, 2024, only if it is determined to have been84
concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia85
Annotated, the "Public Retirement Systems Standards Law"; otherwise, this Act shall not86
become effective and shall be automatically repealed in its entirety on July 1, 2024, as87
required by subsection (a) of Code Section 47-20-50.88 23 LC 43 2852
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SECTION 4.
89
All laws and parts of laws in conflict with this Act are repealed. 90