As used in this article, the term “employee” means any person, whether appointed or elected, who provides services for the state, including any state authority authorized to participate in the Employees’ Retirement System of Georgia under Chapter 2 of Title 47, or for a county, municipality, or other political subdivision and who is paid for […]
The state or any county, municipality, or other political subdivision may contract with any employee to defer, in whole or in part, any portion of such employee’s compensation under a deferred compensation plan; and the state, county, municipality, or other political subdivision may provide the deferred compensation plan itself or it may contract with any […]
The Board of Trustees of the Employees’ Retirement System of Georgia shall administer any deferred compensation plan provided for the employees of the state. Employees of the county boards of health receiving financial assistance from the Department of Public Health may, with the approval of the Board of Trustees of the Employees’ Retirement System of […]
Notwithstanding any other provision of law to the contrary, in order to carry out the provisions of the deferred compensation plan, the state or any county, municipality, or other political subdivision is authorized to make payments for the purchase of insurance, endowments, annuities, mutual funds, or savings from funds derived from the deferral of compensation. […]
The deferred compensation programs authorized by this article shall exist and serve in addition to retirement, pension, or benefit systems established by the state, county, municipality, or other political subdivision; and no deferral of income under the deferred compensation program shall effect a reduction of any retirement, pension, or other benefit provided by law. History. […]
The Board of Trustees of the Employees’ Retirement System of Georgia or the administrator of the plan shall arrange for all services required to carry out the deferred compensation plan or plans so that such plan or plans shall operate without cost to the state, county, city, or other political subdivision except for: Employer contributions […]
The salary reduction or deductions referred to in this article shall be instituted: At the request of the participating employees by the payroll departments applicable to the respective employees; or Pursuant to an automatic enrollment arrangement permitted by and operated in accordance with applicable federal laws and regulations. Records of participation agreements, payroll deductions, investment […]
Effective July 1, 2005, the Board of Trustees of the Employees’ Retirement System of Georgia shall be the successor to the State Personnel Board for the purpose of administering any deferred compensation plan provided to employees as referenced in Code Sections 45-18-32 and 45-18-33. The State Personnel Board shall transfer individual accounts, associated funds, and […]
