§ 47-16-120. Vesting of Rights to Benefits Under This Chapter
All rights and benefits under this chapter shall be subject to future legislative change or revision, and no beneficiary shall be deemed to have any vested right to any benefits under this chapter, except for the right of withdrawal and payment to the surviving spouse or the member’s estate of the difference between amounts paid […]
§ 47-16-121. Reduction of Benefits When Available Funds Are Actuarially Insufficient; Resumption of Payments; Personal Liability of Board for Such Reductions
If the board determines that the funds derived from the sources provided for in this chapter are not actuarially sufficient at any time to enable the board to pay in full each person determined to be entitled to benefits under this chapter and all contingent and other liabilities, then a pro rata percentage of such […]
§ 47-16-122. Exemption of Funds From Attachment, Garnishment, or Judgment; Assignability
None of the funds under this chapter shall be subject to attachment, garnishment, or judgments rendered against the person entitled to receive such funds. Such funds shall not be assignable, but shall be paid to the person determined to be entitled to receive them under this chapter. History. Ga. L. 1963, p. 630, § 20.
§ 47-16-123. Exemptions of Moneys and Rights Accruing Under This Chapter From Taxation
The right to any pension, annuity, allowance, or benefit; the right to the return of contributions; a pension, annuity, allowance, or benefit itself; any optional benefit; any other right accrued or accruing to any person under this chapter; and any moneys under this chapter shall be exempt from any tax imposed by this state or […]