O.C.G.A. § 47-4-121 (2019)
Attempts to defraud the retirement system by means of false statements or falsified records; adjustment of erroneous payments
(a) Any person who knowingly makes any false statements or falsifies or permits to be falsified any records of the retirement system in any attempt to defraud the retirement system, as a result of such act, shall be guilty of a misdemeanor and, upon conviction, shall be punished by a fine not exceeding $500.00 or imprisonment not exceeding 12 months or both.
(b) If any change or error in the records results in any member or beneficiary receiving from the retirement system more or less than he would have been entitled to receive had the records been correct, the board shall have the power to correct such error and to adjust the payments as far as practicable and in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid.
History
(Ga. L. 1969, p. 998, §§ 21, 22.)
Annotations
OPINIONS OF THE ATTORNEY GENERAL Trustees correct failure to detail amount of service credit. - Board of trustees has
the statutory authority to correct its records; this authority obtains even when the incor-
rectness of the records is in no manner attributable to the retirement system, but is wholly caused by a member and the mem-
ber’s employer failing to detail an accurate amount of prior service credit. 1976 Op. Att’y Gen. No. 76-25.
RESEARCH REFERENCES Am. Jur. 2d. - 60A Am. Jur. 2d, Pensions and Retirement Funds, § 1244 et seq. C.J.S. - 67 C.J.S., Officers and Public
Employees, § 309. 70 C.J.S., Pensions, § 12. 78 C.J.S., Schools and School Districts, § 264 et seq.
CHAPTER 5 GEORGIA MUNICIPAL EMPLOYEES BENEFIT SYSTEM Sec.
Article 1 General Provisions Sec.
Legislative intent; construction of this chapter. Definitions. Article 2
Administration and Management of the Assets of the Benefit System
tion of principal value of each unit of funds. Periodic audit of the accounts of the board of trustees; contents and availability of report of such audit; standard of care in conduct of the audit and liability of auditors. Article 3
Creation of board of trustees. Membership of board. Officers of the board of trustees; election; merger of offices of secretary and treasurer; compensation of the secretary and treasurer; treasurer’s performance bond. Powers of the board of trustees generally. Powers of board with regard to funds held by it. Valuation of assets of the retirement system. Duty of board of trustees to file an annual financial report with each member employer; filing of objections to transactions shown in such report. Payment of administrative expenses of the board of trustees; allocation of expenses among member municipalities. Accounts for participating employees, member employers, and as otherwise required; authorization of funds; commingling restriction. Periodic determination of principal and income of the funds; periodic merger of principal and income; method for determina-
Retirement Plans
Power of employers to establish retirement plans; benefits under such plans; power to implement such plans by contract; financing of such plans. Establishment and use of master plans. Provisions of contracts and plans. Provisions for early and normal retirement ages. Credit for prior service. Uninterrupted participation during transfer from one member municipality to another. Transfer of credits. Return of contributions to employee or employee’s estate. Article 4 Miscellaneous Provisions
Creation of debts of the state under this chapter. Exemption from levy, attachment, or other process of funds held by the board of trustees or for its account; assignment of benefits or contracts established under this chapter. Exemption of chapter from regulation under Title 33.
OPINIONS OF THE ATTORNEY GENERAL Retirement benefits are not gifts, but are compensation. 1973 Op. Att’y Gen. No. U73-119. Municipal corporation with retirement plan must publish notice. - Municipal cor-
poration which adopts or amends retirement plan for employees must publish notice of intent. 1973 Op. Att’y Gen. No. U73-119.
RESEARCH REFERENCES ALR. - Reasonableness of classification, as regards beneficiaries, by statute providing for retirement fund or pension for public officers or employees, 163 ALR 870. Gift to or for employees’ pension fund as valid charitable gift or trust, 28 ALR2d 428.
Unemployment compensation: eligibility of employee laid off according to employer’s mandatory retirement plan, 50 ALR3d 880.
ARTICLE 1 GENERAL PROVISIONS