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O.C.G.A. § 47-1-83 — Vesting of member's accrued benefit as of date of termination or partial termination of public retirement or pension system | Georgia Code

O.C.G.A. § 47-1-83 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 47 RETIREMENT AND PENSIONS

Section 1. General Provisions, 47-1-1 through 47-1-86.

ARTICLE 6 CONFORMITY WITH FEDERAL LAW

47-1-83. Vesting of member's accrued benefit as of date of termination or partial termination of public retirement or pension system.

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.

(Code 1981, §47-1-83, enacted by Ga. L. 2009, p. 947, § 8/HB 202; Ga. L. 2014, p. 223, § 2/HB 843.)

Effective date.

- This Code section became effective May 11, 2009.

The 2014 amendment, effective July 1, 2014, rewrote this Code section.

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This Georgia Code resource is curated by this site's author, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.