Employees' Retirement System; create an option for the full-time employment of beneficiaries under certain circumstances
Impact
If enacted, HB 835 will modify existing laws related to the reemployment of retired members within the Employees' Retirement System. It specifically facilitates the hiring of retirees while they retain their retirement allowances, albeit without accruing additional creditable service or affecting their current retirement calculations. Employers will be required to notify the retirement board of the employment of any beneficiary, thereby keeping the system informed about the retirees' work status and associated contributions.
Summary
House Bill 835 is a legislative proposal aimed at amending the Employees' Retirement System of Georgia. This bill introduces provisions that allow beneficiaries of the system to be employed on a full-time basis under specific conditions. The key requirement for this employment is that the beneficiaries must have retired after reaching normal retirement age and must not have been employed or provided services in the year following their retirement. This change is designed to encourage the full-time employment of retired members, providing flexibility for state agencies facing workforce challenges.
Contention
Discussions surrounding this bill may revolve around the implications of allowing retirees back into the workforce and the potential impact on state resources and finances. Notable points of contention could include concerns from various stakeholders regarding the fairness of permitting retirees to work full-time while collecting retirement benefits. Furthermore, the system's ability to manage and verify beneficiary employment without causing financial strain on the retirement system or conflicting with other components of public sector employment may also be debated.
Employees' Retirement System and Public School Employees Retirement System; reduce certain waiting periods and application deadlines for establishment or reestablishment of creditable service
AN ACT relating to optional retirement benefits for hazardous duty employees participating in the County Employees Retirement System's hybrid cash balance plans.
Retirement; permit public school systems to employ certain beneficiaries of the Teachers Retirement System of Georgia as classroom teachers; extend the program