O.C.G.A.
O.C.G.A. § 47-1-83 (2019)
Vesting of member's accrued benefit as of date of termination or partial termination of public retirement or pension system
✓ 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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In accordance with subsection (a) of the federal Treasury Regulation Section 1.401-6, in the event of a termination or partial termination of a public retirement or pension system, a member's accrued benefit as of the date of such termination or partial termination, to the extent then funded, shall be nonforfeitable and fully vested under federal Internal Revenue Code requirements.
History
(Code 1981, § 47-1-83, enacted by Ga. L. 2009, p. 947, § 8/HB 202; Ga. L. 2014, p. 223, § 2/HB 843.)
Annotations
Effective date. - This Code section became effective May 11, 2009.
The 2014 amendment, effective July 1, 2014, rewrote this Code section.