O.C.G.A.
O.C.G.A.

O.C.G.A. § 47-24-60 (2019)

Employer contributions toward costs determined and approved by board; rules and regulations; contributions irrevocable

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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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The employer contributions toward the cost of the fund shall be as actuarially determined and approved by the board and, in making such determination, the adjutant general of the state shall supply the board with such information at such times and in such manner as the board shall specify by rules and regulations. The amounts determined as the employer contributions shall be certified to the Office of the State Treasurer at such times as the board shall specify by rules and regulations. It shall be the duty of the state treasurer to pay to the board, from funds appropriated or otherwise available to the fund, the amounts certified by the board. All employer contributions shall be irrevocable and may be used only for the exclusive benefit of members.

History

(Code 1981, § 47-24-60, enacted by Ga. L. 2002, p. 1153, § 1; Ga. L. 2010, p. 863, §§ 2, 3/SB 296.)

Annotations

The 2010 amendment, effective July 1, 2010, substituted "Office of the State Treasurer" for "Office of Treasury and Fiscal Services" in the second sentence and substituted "state treasurer" for "director of the Office of Treasury and Fiscal Services" in the third sentence.

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ARTICLE 5 CREDITABLE SERVICE