This chapter shall be known and may be cited as the “Public Retirement Systems Standards Law.” History. Code 1981, § 47-20-1 , enacted by Ga. L. 1983, p. 1368, § 1. Cross references. Funding standards, Ga. Const. 1983, Art. III, Sec. X, Para. V.
It is the purpose of this chapter to comply with the provisions of Article III, Section X, Paragraph V of the Constitution of Georgia requiring the General Assembly to enact legislation to define funding standards to assure the actuarial soundness of any retirement or pension system supported wholly or partially from public funds and to […]
As used in this chapter, the term: “Accumulated retirement system benefits” means benefits that are attributable under the provisions of a retirement system to employees’ service rendered to a specific valuation date. “Actuarial accrued liability” means that portion, as determined by a particular actuarial cost method, of the actuarial present value of retirement system benefits […]
Any other provision of law to the contrary notwithstanding, any public retirement system or pension fund supported wholly or partially by public funds shall be subject to the provisions of this chapter. This Code section applies, without limitation, to the Georgia Municipal Employees Benefit System created by Chapter 5 of this title and to any […]
The duties of the boards of trustees of public retirement systems or pension plans contained in this title are in addition to, and not in limitation of, the common law duties of the trustee found in Title 53 except to the extent inconsistent with those within this title. History. Code 1981, § 47-20-5 , enacted […]
