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2018 Georgia Code 47-3-126 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 47-3-126 Case Law from Google Scholar Amendments to OCGA 47-3-126

TITLE 47 RETIREMENT AND PENSIONS

Section 3. Teachers Retirement System of Georgia, 47-3-1 through 47-3-142.

ARTICLE 7 RETIREMENT ALLOWANCES, DISABILITY BENEFITS, AND SPOUSES' BENEFITS

47-3-126. Postretirement benefit adjustments.

The board of trustees is authorized to adopt a method of providing postretirement benefit adjustments for a beneficiary in his postretirement years. Such method of adjustment may result in the adoption by the board of trustees of a method of financing other than that described in paragraphs (1) through (3) of Code Section 47-3-43 and shall be based upon:

  1. Recommendation of the actuaries for the board of trustees; and
  2. Maintaining the actuarial soundness of the system.

    The board of trustees may specify a minimum age which a beneficiary must have attained in order to be eligible for the postretirement benefit adjustment.

(Ga. L. 1969, p. 391, § 1; Ga. L. 1971, p. 573, § 1; Ga. L. 1975, p. 1601, § 1; Ga. L. 1977, p. 1011, § 1.)

OPINIONS OF THE ATTORNEY GENERAL

Appropriations Act cannot place ceiling on adjustment.

- General Assembly cannot, solely through language in an appropriations Act (see Ga. Const. 1983, Art. III, Sec. IX, Para. IV), place a ceiling or limit on the amount of a cost-of-living increase granted to a retiree of the Employees' Retirement System or Teachers Retirement System; such increases may be granted retroactively to January 1, 1984. 1984 Op. Att'y Gen. No. 84-19.

No results found for Georgia Code 47-3-126.