O.C.G.A.

O.C.G.A. § 47-2-92 (2019)

Reestablishment of service credit after withdrawal of accumulated

✓ 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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contributions from this retirement system or the Teachers Retirement System of Georgia; payments required to obtain credit. Any present member who has withdrawn accumulated contributions from either the Employees’ Retirement System of Georgia or the Teachers Retirement System of Georgia, or both, may, after two years of service as a contributing member, reestablish the creditable service for which the member would have been eligible if the accumulated contributions had not been withdrawn, provided that the member repays into the retirement system an amount equal to the amount withdrawn, together with regular interest at the rate of 4 1/4 percent per annum from the date of withdrawal to the date of repayment, which contributions and interest shall be placed in the participant’s individual account in the annuity savings fund. Upon receipt of notice from this retirement system to the Teachers Retirement System of Georgia that a member has repaid to this retirement system contributions previously withdrawn from the Teachers Retirement System of Georgia, the Teachers Retirement System of Georgia shall pay an employer contribution plus regular interest into the Employees’ Retirement System of Georgia. The amount of the employer contribution shall be 6 percent of the reported compensation of the member during membership in the Teachers Retirement System of Georgia.

History

(Ga. L. 1962, p. 126, § 1; Ga.

L. 1963, p. 547, § 1; Ga. L. 1968, p. 1407, § 1; Ga. L. 1973, p. 900, § 1; Ga. L. 1976, p. 453, § 2; Ga. L. 1980, p. 1544, § 1; Ga. L. 1992, p. 1110, § 1; Ga. L. 2009, p. 947, § 16/HB 202.)

Annotations

The 2009 amendment, effective May 11, 2009, near the end of the first sentence, inserted ‘‘contributions and’’ and substi-

tuted ‘‘participant’s individual account in the annuity savings fund’’ for ‘‘pension accumulation fund’’.

Notes of Decisions
Cited in 1 case, 1993–1993 · leading case: Employees Ret. Sys. v. Evans, 439 S.E.2d 690 (Ga. Ct. App. 1993).
Employees Ret. Sys. v. Evans, 439 S.E.2d 690 (Ga. Ct. App. 1993). · cites it 2× “However, in granting summary judgment for Evans, the trial court noted but found it unnecessary to address three other bases for summary judgment asserted by Evans, i.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.