§ 47-24-103. Returning to Service; Recalculation of Retirement Allowance After Cessation
If any retired member returns to the service of the Georgia National Guard, his or her retirement allowance shall cease. Upon cessation of such service, the retired member, after proper notification to the board, shall receive a retirement allowance calculated according to the number of years of creditable service the member has accumulated at the […]
§ 47-24-120. Penalty for Falsification of Records
Any person who knowingly makes any false statements or falsifies or permits to be falsified any records of the fund in any attempt to defraud the fund, as a result of such an act, shall be guilty of a misdemeanor and, on conviction, shall be punished by a fine not to exceed $500.00, imprisonment not […]
§ 47-24-1. Definitions
As used in this chapter, the term: “Board” means the Board of Trustees of the Employees’ Retirement System of Georgia. “Creditable service” means prior service, membership service, and other service for which credit is allowed toward retirement under this chapter. “Date of establishment” means July 1, 2002. “Employer” means the State of Georgia. “Fund” means […]
§ 47-24-121. Correction of Errors
If any change or error in the records results in any member or beneficiary receiving from the fund more or less than he or she would have been entitled to receive had the records been correct, the board shall have the power to correct such error and to adjust the payments as far as practicable […]
§ 47-24-20. Creation; Administration; Power and Privileges
A pension fund is created and placed under the administration of the Board of Trustees of the Employees’ Retirement System of Georgia to provide retirement allowances and other benefits for members of the Georgia National Guard. The pension fund shall begin operation as of July 1, 2002. The fund shall have the power and privileges […]
§ 47-24-122. Provisions Are Noncontractual
The benefits provided under this chapter shall not be a part of any contract and shall be subject to future legislation. History. Code 1981, § 47-24-122 , enacted by Ga. L. 2002, p. 1153, § 1.
§ 47-24-21. Executive Secretary
There is created an office to be known as the executive secretary of the Georgia Military Pension Fund. The director of the Employees’ Retirement System of Georgia shall serve as executive secretary of this fund. History. Code 1981, § 47-24-21 , enacted by Ga. L. 2002, p. 1153, § 1.
§ 47-24-22. Administration and Operation of Fund; Actuarial and Other Services; Technical Adviser; Actuarial Investigation; Rate of Interest; Rules and Regulations; Records; Payment of Employees and Expenses
The general administration and responsibility for the proper operation of the fund and for putting this chapter into effect are vested in the board. The board shall engage such actuarial and other services as shall be required to transact the business of the fund. The board shall designate an actuary who shall be the technical […]
§ 47-24-23. Trustees of Funds; Power to Invest Funds; Conflicts of Interest as to Investments; Custody of Funds; Vouchers
The board members shall be the trustees of the funds of the fund; may invest and reinvest such funds; and may hold, purchase, sell, assign, transfer, and dispose of any of the securities and investments in which any of the moneys of the fund created under this chapter shall have been invested, as well as […]
§ 47-24-24. Accumulation Account
The accumulation account shall be the account in which all reserves for the payment of the part of all retirement allowances and other benefits payable from contributions made by the employer shall be held and from which all retirement allowances payable under the fund and the administrative expenses shall be paid. All interest and dividends […]