| 3 | 3 | | By: Representative Leverett of the 123 |
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| 4 | 4 | | rd |
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| 5 | 5 | | |
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| 6 | 6 | | A BILL TO BE ENTITLED |
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| 7 | 7 | | AN ACT |
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| 8 | 8 | | To amend Chapter 23 of Title 47 of the Official Code of Georgia Annotated, relating to the |
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| 9 | 9 | | 1 |
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| 10 | 10 | | Georgia Judicial Retirement System, so as to provide for the payment of monthly retirement2 |
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| 11 | 11 | | benefits for creditable service as a superior court judge at the age of 65 years; to provide for3 |
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| 12 | 12 | | calculation of benefits for individuals who first become members after the effective date of4 |
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| 13 | 13 | | this Act; to provide for calculation of survivors benefits; to provide for conforming changes;5 |
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| 14 | 14 | | to provide for related matters; to repeal conflicting laws; and for other purposes.6 |
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| 15 | 15 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7 |
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| 16 | 16 | | SECTION 1.8 |
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| 17 | 17 | | Chapter 23 of Title 47 of the Official Code of Georgia Annotated, relating to the Georgia9 |
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| 18 | 18 | | Judicial Retirement System, is amended by revising Code Section 47-23-45, relating to effect10 |
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| 19 | 19 | | of change in employment, as follows:11 |
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| 20 | 20 | | "47-23-45.12 |
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| 21 | 21 | | Any member of this retirement system shall be entitled to remain as a member by holding13 |
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| 22 | 22 | | any position or office covered by the fund and shall receive full credit for all service as a14 |
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| 23 | 23 | | member despite his or her change from one position or office to another covered by the15 |
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| 26 | 26 | | fund. Upon becoming eligible for retirement, however, retirement benefits shall be |
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| 27 | 27 | | 16 |
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| 28 | 28 | | determined in accordance with Code Sections 47-23-101 and |
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| 29 | 29 | | , 47-23-102, and 47-23-102.1."17 |
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| 30 | 30 | | SECTION 2.18 |
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| 31 | 31 | | Said chapter is further amended by revising Code Section 47-23-102, relating to vesting,19 |
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| 32 | 32 | | benefits upon retirement, and compliance with federal income tax laws, as follows:20 |
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| 33 | 33 | | "47-23-102.21 |
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| 34 | 34 | | (a) This Code section shall only apply to an individual who first became a member before22 |
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| 35 | 35 | | the effective date of this Act.23 |
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| 36 | 36 | | (b) The right of a member to receive benefits under this chapter shall vest after the member24 |
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| 37 | 37 | | obtains ten years of creditable service; provided, however, that no member shall receive25 |
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| 38 | 38 | | a retirement benefit prior to attaining the age of 60 years. Except as otherwise provided26 |
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| 39 | 39 | | in Article 2 of Chapter 1 of this title, a member's accumulated contributions shall be 10027 |
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| 40 | 40 | | percent vested and nonforfeitable at all times. Any member retiring on or after28 |
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| 41 | 41 | | July 1, 1996, and any member who was retired on July 1, 1996, with 16 years or more of29 |
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| 42 | 42 | | creditable service shall receive a benefit equal to 66.66 percent, plus 1 percent for each year30 |
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| 43 | 43 | | of creditable service over 16 years, of the member's salary; provided, however, that no31 |
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| 44 | 44 | | member shall receive more than 24 years of creditable service. Any member retiring with32 |
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| 45 | 45 | | less than 16 years of creditable service may retire at a reduced benefit pursuant to Code33 |
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| 46 | 46 | | Section 47-23-103. Normal retirement age under this retirement system shall be the date34 |
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| 47 | 47 | | the member has reached age 60 years of age, provided that he or she has at least ten years35 |
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| 48 | 48 | | of creditable service. For purposes of Section 402(1) of the federal Internal Revenue Code36 |
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| 49 | 49 | | regarding distributions from governmental plans for health and long-term care insurance37 |
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| 50 | 50 | | for public safety officers, normal retirement age shall be the earliest date when the member38 |
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| 51 | 51 | | has satisfied the requirements for a retirement under this or the predecessor retirement39 |
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| 52 | 52 | | system. Except as otherwise provided in Article 2 of Chapter 1 of this title, a member's40 |
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| 53 | 53 | | right to his or her retirement allowance is nonforfeitable upon attainment of normal41 |
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| 56 | 56 | | retirement age. Any member who was retired on July 1, 1996, with more than 16 years of |
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| 57 | 57 | | 42 |
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| 58 | 58 | | creditable service shall receive in July, 1998, a one-time benefit payment equal to two43 |
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| 59 | 59 | | times the product of 1 percent of the salary paid to such judge at the time of his or her44 |
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| 60 | 60 | | retirement multiplied by the number of years of creditable service in excess of 16 years.45 |
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| 61 | 61 | | (b) |
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| 62 | 62 | | (c) The board is authorized to provide by rule or regulation for the payment of benefits46 |
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| 63 | 63 | | to members or beneficiaries of the retirement system at a time and under circumstances not47 |
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| 64 | 64 | | provided for in this chapter to the extent that such payment is required to maintain the48 |
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| 65 | 65 | | retirement system as a qualified retirement plan for the purposes of federal income tax laws49 |
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| 66 | 66 | | and regulations."50 |
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| 67 | 67 | | SECTION 3.51 |
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| 68 | 68 | | Said chapter is further amended by adding a new Code section to read as follows:52 |
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| 69 | 69 | | "47-23-102.1.53 |
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| 70 | 70 | | (a) This Code section shall only apply to an individual who first becomes a member on or54 |
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| 71 | 71 | | after the effective date of this Act.55 |
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| 72 | 72 | | (b) The right of a member to receive benefits under this chapter shall vest after the member56 |
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| 73 | 73 | | obtains ten years of creditable service; provided, however, that no member shall receive57 |
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| 74 | 74 | | a retirement benefit prior to attaining the age of 60 years. Except as otherwise provided58 |
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| 75 | 75 | | in Article 2 of Chapter 1 of this title, a member's accumulated contributions shall be 10059 |
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| 76 | 76 | | percent vested and nonforfeitable at all times. Any member retiring with 16 years or more60 |
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| 77 | 77 | | of creditable service shall receive a benefit equal to 66.66 percent, plus 1 percent for each61 |
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| 78 | 78 | | year of creditable service over 16 years, of the member's salary; provided, however, that62 |
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| 79 | 79 | | no member shall receive more than 24 years of creditable service. Any member retiring63 |
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| 80 | 80 | | with less than 16 years of creditable service may retire at a reduced benefit pursuant to64 |
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| 81 | 81 | | Code Section 47-23-103. Except as provided in subsection (c) of this Code section, normal65 |
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| 82 | 82 | | retirement age under this retirement system shall be the date the member has reached 6066 |
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| 83 | 83 | | years of age, provided that he or she has at least ten years of creditable service. For67 |
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| 86 | 86 | | purposes of Section 402(1) of the federal Internal Revenue Code regarding distributions68 |
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| 87 | 87 | | from governmental plans for health and long-term care insurance for public safety officers,69 |
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| 88 | 88 | | normal retirement age shall be the earliest date when the member has satisfied the70 |
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| 89 | 89 | | requirements for a retirement under this retirement system.71 |
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| 90 | 90 | | (c) On the effective date of a member's retirement, as provided for in subsection (b) of72 |
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| 91 | 91 | | Code Section 47-23-103, such member's monthly retirement benefit shall be calculated as73 |
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| 92 | 92 | | follows:74 |
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| 93 | 93 | | (1) If a member is over the age of 65 years on his or her effective date of retirement, or 75 |
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| 94 | 94 | | has attained the age of 65 years after his or her effective date of retirement, such member76 |
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| 95 | 95 | | shall receive the full amount of the benefit calculated pursuant to subsection (b) of this77 |
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| 96 | 96 | | Code section; or78 |
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| 97 | 97 | | (2) If a member has not yet attained the age of 65 years on his or her effective date of79 |
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| 98 | 98 | | retirement, the monthly retirement benefit shall be calculated pursuant to subsection (b)80 |
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| 99 | 99 | | of this Code section using only the years of creditable service attributable to such81 |
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| 100 | 100 | | member's service in any covered position except for as a superior court judge.82 |
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| 101 | 101 | | (d) The board is authorized to provide by rule or regulation for the payment of benefits to83 |
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| 102 | 102 | | members or beneficiaries of the retirement system at a time and under circumstances not84 |
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| 103 | 103 | | provided for in this chapter to the extent that such payment is required to maintain the85 |
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| 104 | 104 | | retirement system as a qualified retirement plan for the purposes of federal income tax laws86 |
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| 105 | 105 | | and regulations."87 |
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| 106 | 106 | | SECTION 4.88 |
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| 107 | 107 | | Said chapter is further amended by revising Code Section 47-23-103, relating to retirement89 |
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| 108 | 108 | | based on age and application to retire, as follows:90 |
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| 109 | 109 | | "47-23-103.91 |
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| 110 | 110 | | (a) In lieu of retirement at the benefit level provided by Code Section 47-23-102 or92 |
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| 111 | 111 | | 47-23-102.1, a member may retire at any time after attaining the age of 60 years and after93 |
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| 114 | 114 | | obtaining a minimum of ten years of creditable service. The monthly retirement benefit |
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| 115 | 115 | | 94 |
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| 116 | 116 | | for such early retirement shall be a percentage of either |
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| 117 | 117 | | the benefit under Code Section95 |
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| 118 | 118 | | 47-23-102 if such member first became a member before the effective date of this Act or96 |
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| 119 | 119 | | the benefit under subsection (c) of Code Section 47-23-102.1 if such member first became97 |
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| 120 | 120 | | a member on or after the effective date of this Act, and such percentage shall be the98 |
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| 121 | 121 | | proportion which the number of years of creditable service the member has in the99 |
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| 122 | 122 | | retirement system bears to 16.100 |
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| 123 | 123 | | (b) The effective date of retirement shall be the first day of the month in which the101 |
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| 124 | 124 | | application is received by the board of trustees, provided that no retirement shall, in any102 |
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| 125 | 125 | | case, be effective earlier than the first day of the month following the final month of the103 |
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| 126 | 126 | | applicant's employment. Applications for retirement shall not be accepted more than 90104 |
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| 127 | 127 | | days in advance of the effective date of retirement."105 |
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| 128 | 128 | | SECTION 5.106 |
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| 129 | 129 | | Said chapter is further amended in Code Section 47-23-104, relating to disability,107 |
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| 130 | 130 | | determination of benefits, and determining disability, as follows:108 |
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| 131 | 131 | | "47-23-104.109 |
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| 132 | 132 | | (a) After obtaining a minimum of four years of creditable service, any member who110 |
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| 133 | 133 | | becomes totally and permanently disabled to the extent that he or she is unable to perform111 |
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| 134 | 134 | | the duties of his or her office shall be entitled to receive a disability retirement benefit112 |
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| 135 | 135 | | which shall be one-half of the maximum retirement benefits provided by Code Section113 |
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| 136 | 136 | | 47-23-102 or 47-23-102.1 for 16 years of service, unless the member would otherwise114 |
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| 137 | 137 | | qualify for a greater benefit under Code Section 47-23-102 if such member first became115 |
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| 138 | 138 | | a member before the effective date of this Act, Code Section 47-23-102.1 if such member116 |
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| 139 | 139 | | first became a member on or after the effective date of this Act, or Code Section117 |
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| 140 | 140 | | 47-23-103, in which event the Code section providing the highest benefit would apply.118 |
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| 143 | 143 | | (b) After obtaining a minimum of ten years of actual service, any member who becomes |
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| 144 | 144 | | 119 |
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| 145 | 145 | | totally and permanently disabled to the extent that he or she is unable to perform the duties120 |
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| 146 | 146 | | of his or her office shall be entitled to receive a disability retirement benefit which shall be121 |
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| 147 | 147 | | two-thirds of the maximum retirement benefits provided by Code Section 47-23-102 or |
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| 148 | 148 | | 122 |
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| 149 | 149 | | 47-23-102.1.123 |
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| 150 | 150 | | (c) The disability of any member applying for disability retirement benefits shall be124 |
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| 151 | 151 | | determined by the board in the same manner and under the same procedure as disability of125 |
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| 152 | 152 | | state employees is determined in accordance with the applicable provisions of the126 |
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| 153 | 153 | | Employees' Retirement System of Georgia. Disability retirement benefits shall become127 |
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| 154 | 154 | | effective on the first day of the month following the month the member resigns as a result128 |
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| 155 | 155 | | of the disability."129 |
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| 156 | 156 | | SECTION 6.130 |
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| 157 | 157 | | Said chapter is further amended by revising Code Section 47-23-105.1, relating to131 |
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| 158 | 158 | | modification of retirement allowance, as follows:132 |
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| 159 | 159 | | "47-23-105.1.133 |
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| 160 | 160 | | (a) The provisions of this Code section shall apply only to persons who become members134 |
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| 161 | 161 | | of this retirement system on or after July 1, 2012.135 |
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| 162 | 162 | | (b) A member may make a one-time election to convert the retirement allowance136 |
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| 163 | 163 | | otherwise payable to him or her into a modified retirement allowance of equivalent137 |
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| 164 | 164 | | actuarial value and designate a natural person to receive a survivors benefit in accordance138 |
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| 165 | 165 | | with one of the options set forth in paragraphs (1), (2), (3), or (4) of this subsection. Such139 |
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| 166 | 166 | | retirement allowance shall be actuarially reduced in accordance to the designated survivor's140 |
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| 167 | 167 | | projected life span. For any member whose benefit amount is calculated pursuant to Code141 |
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| 168 | 168 | | Section 47-23-102.1, such actuarial adjustment shall account for any increase in the benefit142 |
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| 169 | 169 | | amount accruing to such member when he or she attains the age of 65 years. Such actuarial143 |
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| 170 | 170 | | adjustment shall be computed upon the basis of the mortality tables and rates of interest last144 |
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| 173 | 173 | | adopted by the board of trustees. Such election may be made only after the member has |
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| 174 | 174 | | 145 |
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| 175 | 175 | | become eligible to retire and before the first payment of his or her retirement allowance146 |
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| 176 | 176 | | normally becomes due. Such election shall be irrevocable except as otherwise provided147 |
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| 177 | 177 | | in this Code section.148 |
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| 178 | 178 | | (1) Option one, known as the 100 percent joint and survivor option, shall consist of a149 |
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| 179 | 179 | | reduced retirement allowance which is payable during the life of the retired member and150 |
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| 180 | 180 | | which, upon his or her death, shall be continued at the same rate throughout the life of151 |
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| 181 | 181 | | and paid to the designated survivor.152 |
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| 182 | 182 | | (2) Option two, known as the 66 2/3 percent joint and survivor option, shall consist of153 |
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| 183 | 183 | | a reduced retirement allowance which is payable during the life of the retired member and154 |
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| 184 | 184 | | which, upon his or her death, shall be continued at the rate of two-thirds the reduced155 |
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| 185 | 185 | | retirement allowance throughout the life of and paid to the designated survivor.156 |
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| 186 | 186 | | (3) Option three, known as the 50 percent joint and survivor option, shall consist of a157 |
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| 187 | 187 | | reduced retirement allowance which is payable during the life of the retired member and158 |
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| 188 | 188 | | which, upon his or her death, shall be continued at the rate of one-half the reduced159 |
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| 189 | 189 | | retirement allowance throughout the life of and paid to the designated survivor.160 |
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| 190 | 190 | | (4) Option four, known as the pop-up option, shall be the election of options one, two,161 |
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| 191 | 191 | | or three, with the added provision that in the event the designated survivor predeceases162 |
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| 192 | 192 | | the retired member, the retirement allowance payable to the retired member after the163 |
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| 193 | 193 | | death of the designated survivor shall be equal to the maximum retirement allowance164 |
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| 194 | 194 | | which the retired member would have been entitled to receive under this chapter had such165 |
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| 195 | 195 | | election not been made.166 |
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| 196 | 196 | | (c) In the event a member is not married at the time he or she retires and the retired167 |
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| 197 | 197 | | member does not elect a survivor's option and such member subsequently marries, the168 |
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| 198 | 198 | | retired member may elect to begin receiving an actuarially reduced benefit of equivalent169 |
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| 199 | 199 | | value and establish on behalf of the newly acquired spouse an option under this Code170 |
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| 200 | 200 | | section. Such election shall be made within six months after the marriage.171 |
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| 203 | 203 | | (d) In the event a retired member makes an election under subsection (b) of this Code |
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| 204 | 204 | | 172 |
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| 205 | 205 | | section on behalf of a spouse and such spouse predeceases the retired member and the173 |
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| 206 | 206 | | retired member subsequently remarries, the retired member may elect to begin receiving174 |
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| 207 | 207 | | an actuarially reduced benefit of equivalent value and establish on behalf of a new175 |
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| 208 | 208 | | designated survivor pursuant to an option under this Code section.176 |
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| 209 | 209 | | (e) In the event a retired member makes an election under subsection (b) of this Code177 |
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| 210 | 210 | | section on behalf of a spouse and a final judgment of complete divorce from the spouse is178 |
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| 211 | 211 | | entered, then:179 |
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| 212 | 212 | | (1) The retired member may elect to continue the optional allowance with the former180 |
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| 213 | 213 | | spouse designated to receive all amounts and benefits upon the death of the retired181 |
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| 214 | 214 | | member; or182 |
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| 215 | 215 | | (2) The retired member may revoke the appointment of such spouse as a beneficiary;183 |
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| 216 | 216 | | provided, however, that in such event the retirement benefit received by the retired184 |
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| 217 | 217 | | member shall not increase. Such revocation may be made at any time after the entry of185 |
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| 218 | 218 | | the final judgment of divorce. If the retired member elects to revoke the election, the186 |
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| 219 | 219 | | spouse shall be treated in the same manner as if he or she had predeceased the retired187 |
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| 220 | 220 | | member under subsection (d) of this Code section.188 |
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| 221 | 221 | | (f) If an active vested member of this retirement system dies and is survived by a legal189 |
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| 222 | 222 | | spouse, such spouse shall receive a benefit as if the member has retired on the date of his190 |
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| 223 | 223 | | or her death, had attained the age of 65, |
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| 224 | 224 | | and had elected option three."191 |
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| 225 | 225 | | SECTION 7.192 |
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| 226 | 226 | | Said chapter is further amended by revising Code Section 47-23-106, relating to county193 |
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| 227 | 227 | | supplement of salaries, as follows:194 |
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| 228 | 228 | | "47-23-106.195 |
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| 229 | 229 | | (a) Whenever any county within a judicial circuit supplements the state salary paid to196 |
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| 230 | 230 | | active superior court judges or the district attorney of said circuit, the governing authority197 |
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| 233 | 233 | | of such county shall be authorized, but not required, to supplement the benefit being paid |
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| 234 | 234 | | 198 |
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| 235 | 235 | | pursuant to this chapter to any retired superior court judge or district attorney of said circuit199 |
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| 236 | 236 | | who is receiving benefits pursuant to this chapter or to supplement the benefit being paid200 |
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| 237 | 237 | | pursuant to this chapter to any beneficiary of any deceased superior court judge or district201 |
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| 238 | 238 | | attorney.202 |
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| 239 | 239 | | (b) Whenever any county which has a state court supplements the salary of the judges or203 |
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| 240 | 240 | | solicitors-general of such court, the governing authority of such county shall be authorized,204 |
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| 241 | 241 | | but not required, to supplement the benefit being paid pursuant to this chapter to any retired205 |
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| 242 | 242 | | state court judge of such court who is receiving benefits pursuant to this chapter or206 |
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| 243 | 243 | | supplement the benefit being paid pursuant to this chapter to any beneficiary of any207 |
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| 244 | 244 | | deceased state court judge.208 |
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| 245 | 245 | | (c) Notwithstanding the provisions of subsection (a) or (b) of this Code section, for any209 |
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| 246 | 246 | | single county judicial circuit where the county site is located in an unincorporated area of210 |
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| 247 | 247 | | the county and the county governing authority has constructed one or more permanent211 |
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| 248 | 248 | | satellite courthouses within the county, said county shall supplement the benefit amount212 |
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| 249 | 249 | | being paid pursuant to this chapter to any district attorney who retired from such circuit.213 |
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| 250 | 250 | | The amount of the supplement shall be determined by multiplying the benefit percentage214 |
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| 251 | 251 | | he or she earned pursuant to Code Section 47-23-102 if such member first became a |
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| 252 | 252 | | 215 |
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| 253 | 253 | | member before the effective date of this Act or Code Section 47-23-102.1 if such member216 |
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| 254 | 254 | | first became a member on or after the effective date of this Act at retirement together with217 |
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| 255 | 255 | | the aggregate county salary supplement being paid to the active district attorney on the date218 |
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| 256 | 256 | | that he or she begins receiving a retirement benefit or the supplement paid to the retiring219 |
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| 257 | 257 | | district attorney upon his or her last day of service as district attorney, whichever is greater.220 |
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| 258 | 258 | | The supplement shall not be payable to a spouse or survivor pursuant to the provisions of221 |
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| 259 | 259 | | Code Section 47-23-105."222 |
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