25 LC 56 0263
Senate Bill 261
By: Senators Harbin of the 16th, Strickland of the 42nd, Gooch of the 51st, Hickman of the
4th, Williams of the 25th and others
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 25 of Title 47 of the Official Code of Georgia Annotated, relating to the
1
magistrates retirement fund, so as to provide for an early retirement benefit; to provide for2
an employee contribution increase; to replace the statutory maximum monthly compensation3
used to calculate a benefit with an amount determined by the board; to increase the maximum4
number of years of service used to calculate a benefit; to provide for related matters; to5
provide conditions for an effective date and automatic repeal; to repeal conflicting laws; and6
for other purposes.7
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:8
SECTION 1.9
Chapter 25 of Title 47 of the Official Code of Georgia Annotated, relating to the magistrates10
retirement fund, is amended by revising Code Section 47-25-41, relating to member dues,11
as follows:12
"47-25-41.13
Each member shall pay into the fund as dues a sum equal to 3.42
4.0 percent of the14
member's maximum average final monthly compensation established by subsection (a) of15
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Code Section 47-25-81 per month. Each month's dues shall be paid not later than the tenth
16
day of that month."17
SECTION 2.18
Said chapter is further amended by revising Code Section 47-25-80, relating to requirements19
to receiving benefits, as follows:20
"47-25-80.21
(a)
In order for a member to be eligible to receive retirement benefits under this chapter,22
he or she must have:23
(1) Served as a regularly qualified and commissioned chief magistrate or as the24
secretary-treasurer for at least eight years;25
(2) Fully complied with this chapter;26
(3) Terminated his or her official capacity as a chief magistrate or as the27
secretary-treasurer;28
(4) Attained the age of 60 55 years;29
(5) Filed with the board his or her application for such retirement, on a form to be30
furnished by the board, within a period of 90 days, or as soon thereafter as possible, after31
reaching the age of 60 55 years or after termination of his or her official capacity as a32
chief magistrate or as the secretary-treasurer, whichever may occur last in point of time;33
and34
(6) Had his or her application for retirement approved by the board.35
(b) If a member retires prior to the age of 60, his or her benefit, as calculated pursuant to36
Code Section 47-25-81, shall be reduced by one-twelfth of 3 percent for each month by37
which his or her age at the time of retirement is below 60 years."38
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SECTION 3.
39
Said chapter is further amended by revising Code Section 47-25-81, relating to the amount40
of benefits, as follows:41
"47-25-81.42
(a) Any member who is approved for retirement benefits as provided in Code Section43
47-25-80 shall be paid a monthly sum equal to 4
5 percent of his or her average final44
monthly compensation for each year served by the member up to, but not exceeding, a total45
of 20 28 years; provided, however, that the final annual monthly compensation used for46
calculating a benefit under this Code section shall not exceed an amount set pursuant to47
subsection (b) of this Code section. $42,781.22 or the amount fixed in the following48
schedule according to county population, whichever amount is higher:49
Population50
Maximum Average Final
Monthly Compensation
500,000 or more..............................................$ 7,247.8751
400,000 - 499,999..............................................6,975.7052
300,000 - 399,999..............................................6,703.5353
250,000 - 299,999..............................................6,072.6554
200,000 - 249,999..............................................5,594.1755
150,000 - 199,999..............................................5,132.4956
100,000 - 149,999..............................................4,797.7057
75,000 - 99,999...............................................4,490.7658
50,000 - 74,999...............................................4,183.4759
39,000 - 49,999...............................................3,732.5360
29,000 - 38,999...............................................3,512.8061
20,000 - 28,999...............................................3,293.3462
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11,890 - 19,999...............................................3,073.8863
6,000 - 11,889...............................................2,713.5364
0 - 5,999................................................1,975.9865
(b) The board of commissioners is authorized to shall adopt from time to time a method66
or methods of providing for increases in the a maximum final monthly compensation used67
for calculating a benefit as provided in this Code section. Such method or methods68
maximum final monthly compensation shall be based upon:69
(1) The recommendation of the actuary of the board of commissioners;70
(2) The maintenance of the actuarial soundness of the fund in accordance with the71
standards provided in Code Section 47-20-10 or such higher standards as may be adopted72
by the board; and73
(3) Such other factors as the board deems relevant; provided, however, that any such74
increase shall be uniform and shall apply equally to all members of this retirement75
system.76
(c) No time for which dues have not been paid in accordance with Code Section 47-25-4177
shall be considered in determining the number of years of service."78
SECTION 4.79
This Act shall become effective on July 1, 2026, only if it is determined to have been80
concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia81
Annotated, the "Public Retirement Systems Standards Law"; otherwise, this Act shall not82
become effective and shall be automatically repealed in its entirety on July 1, 2026, as83
required by subsection (a) of Code Section 47-20-50.84
SECTION 5.85
All laws and parts of laws in conflict with this Act are repealed.86
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