§ 47-25-22. Powers and Duties
The board is granted the following powers and duties: To provide for the collection of all moneys provided in this chapter; To pay the administrative expenses of the board; To hear and decide all applications for retirement benefits under this chapter; To make payment of all retirement benefits that may be determined to be due […]
§ 47-25-85. Members Not Prevented From Belonging to Another Retirement System
Nothing contained in this chapter shall be construed so as to prevent any person who is a member of the fund from belonging to any other retirement, annuity, or benefit system. History. Code 1981, § 47-25-85 , enacted by Ga. L. 2006, p. 246, § 1/SB 244.
§ 47-25-23. Control of Funds; Investments
The board shall have control of all funds provided for in this chapter and all funds shall be received and disbursed from a special account to the credit of the board. The expenses of administering this fund and the benefits provided for in this chapter shall be paid from such funds. The board shall have […]
§ 47-25-86. Suspension of Benefits if Retired Member Becomes Employed as a Chief Magistrate
If a retired member becomes employed as a chief magistrate, his or her retirement benefits shall be suspended during the period of time he or she holds such position, and upon cessation of such service, his or her prior retirement allowance shall be resumed. If a retired member becomes employed as a chief magistrate, he […]
§ 47-25-24. Gifts, Grants, and Bequests
The board may take, by gift, grant, or bequest, any money, real or personal property, or any other thing of value and may hold or invest it for the use and purposes of the fund in accordance with this chapter. History. Code 1981, § 47-25-24 , enacted by Ga. L. 2006, p. 246, § 1/SB […]
§ 47-25-100. Insufficient Funds From Which to Pay Benefits
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 the benefits provided for, plus all contingent and other liabilities, then a prorated percentage of such payments […]
§ 47-25-25. Permanent Records
The board shall keep permanent records of all persons who qualify to participate in the benefits of this chapter, an accurate record of all payments and disbursements, and a detailed record of all the acts and doings of the board. History. Code 1981, § 47-25-25 , enacted by Ga. L. 2006, p. 246, § 1/SB […]
§ 47-25-26. Annual Audit of Board Activity
The state auditor is authorized and directed to make an annual audit of the acts and doings of the board and to make a complete report of the same to the General Assembly in such detail as he or she may see fit. The state auditor shall also have the right to audit the affairs […]
§ 47-25-40. Qualifications
Before any person shall be eligible to participate in the fund, he or she must be serving as a duly qualified and commissioned chief magistrate of a county of the State of Georgia or as the secretary-treasurer. Any qualified person who desires to participate in the fund shall make application to the board for membership […]
§ 47-25-41. Member Dues
Each member shall pay into the fund as dues a sum equal to 3.42 percent of the member’s maximum average final monthly compensation established by subsection (a) of Code Section 47-25-81 per month. Each month’s dues shall be paid not later than the tenth day of that month. History. Code 1981, § 47-25-41 , enacted […]