Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

O.C.G.A. § 47-11-90 — Effect of insufficiency of funds on payment of retirement benefits; liability of board for such insufficiencies | Georgia Code

O.C.G.A. § 47-11-90 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 47 RETIREMENT AND PENSIONS

Section 11. Judges of the Probate Courts Retirement Fund of Georgia, 47-11-1 through 47-11-91.

ARTICLE 6 MISCELLANEOUS PROVISIONS

47-11-90. Effect of insufficiency of funds on payment of retirement benefits; liability of board for such insufficiencies.

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 shall be made to each person entitled thereto until the funds shall be replenished actuarially sufficiently to enable the board to resume such payments in accordance with the terms of this chapter. In no event shall the board or any member thereof be liable to any person for any deficiency in payments made under this Code section.

(Ga. L. 1958, p. 185, § 12; Ga. L. 1959, p. 354, § 5.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 60A Am. Jur. 2d, Pensions and Retirement Funds, § 1228 et seq.

C.J.S.

- 70 C.J.S., Pensions, § 8.

Database error: SQLSTATE[HY000]: General error: 8 attempt to write a readonly database

This Georgia Code resource is curated by Graham W. Syfert, Esq., 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.