§ 47-5-44. Credit for Prior Service
Each member employer that has adopted a plan providing retirement benefits under Code Section 47-5-40 is authorized in its plan and contract to determine what credit, if any, shall be allowed for prior service. The financial liability incurred by the member employer for any such prior service credits allowed shall be actuarially determined and incorporated […]
§ 47-5-45. Uninterrupted Participation During Transfer From One Member Municipality to Another
The board of trustees may provide rules under which contracts with member employers may provide for uninterrupted participation by a participating employee who transfers his employment from one member municipality to another. History. Code 1981, § 47-5-45 , enacted by Ga. L. 1984, p. 1041, § 11.
§ 47-5-46. Transfer of Credits
Member employers which provide retirement benefits under a local or special Act may contract with the board of trustees for transfer of credits to this retirement system and continuation of accrued benefits to their employees under terms which may be provided by amendment to such local or special Act and which are not inconsistent with […]
§ 47-5-47. Return of Contributions to Employee or Employee’s Estate
Except as otherwise provided with respect to the provision of death benefits under a plan, plans providing for retirement benefits established under this chapter shall provide that mandatory contributions made by a participating employee shall be returned to such employee’s surviving spouse or to the estate of the participant or the participant’s pre-retirement beneficiary in […]
§ 47-5-40. Power of Employers to Establish Retirement Plans; Benefits Under Such Plans; Power to Implement Such Plans by Contract; Financing of Such Plans
Each employer is empowered to establish a plan or plans for the provision of retirement or employee benefits for its employees. Such plans shall be enacted by ordinance or resolution of the governing body of a municipal corporation or by a resolution of the governing body of other employers. The ordinance or resolution shall set […]
§ 47-5-41. Establishment and Use of Master Plans
The board of trustees has the power to establish one or more master plans which may be adopted by any employer. The employees to be covered, the retirement and employee benefits to be provided, and the terms and conditions for retirement benefits and other benefits shall be provided in the master plan. A municipal corporation […]
§ 47-5-42. Provisions of Contracts and Plans
Each member employer that has adopted a plan for the provision of retirement benefits or employee benefits under Code Section 47-5-40 is authorized in its plan and contract to include such provisions as are necessary for the development of a suitable plan, which provisions shall be subject to the approval of the board of trustees, […]
§ 47-5-43. Provisions for Early and Normal Retirement Ages
Each member employer may provide in its plan for early and normal retirement ages. A member employer may defer the retirement of an employee who has reached normal retirement age. History. Code 1981, § 47-5-43 , enacted by Ga. L. 1984, p. 1041, § 11.