O.C.G.A.

O.C.G.A. § 47-1-80 (2019)

Distributions to conform to regulations issued under the Internal Revenue Code

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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Notwithstanding any other provision of this title to the contrary, distributions from any public retirement or pension system shall conform to a good-faith interpretation of Section 401(a)(9) of the federal Internal Revenue Code and the regulations promulgated pursuant to such section as applicable to a governmental plan within the meaning of Section 414(d) of the federal Internal Revenue Code and shall be implemented in accordance with the grandfathering provisions of such regulations applicable to annuity option distributions in effect on April 17, 2001.

History

(Code 1981, § 47-1-80, enacted by Ga. L. 2005, p. 535, § 2/HB 460; Ga. L. 2009, p. 947, § 4/HB 202.)

Annotations

The 2009 amendment, effective May 11, 2009, substituted ‘‘a good-faith interpretation of’’ for ‘‘the regulations issued under’’

and inserted ‘‘and the regulations promulgated pursuant to such section’’ in this Code section.