HB841 - Georgia State Employee Savings Plan; enact
HB841 - Georgia State Employee Savings Plan; enact
Sponsored by: Bridges,Ben 10th
A BILL to be entitled an Act to amend Chapter 2 of Title 47 of the Official Code of Georgia Annotated, relating to the Employees’ Retirement System of Georgia, so as to provide a short title; to provide that persons who first or again become a member of such retirement system on or after July 1, 2008, shall have accounts in the state deferred compensation plan; to provide for an employer contribution; to provide for rules and regulations; to reduce the percent of a member’s compensation used to calculate a retirement benefit from 2 percent to 1 percent; to provide for applicability; to provide conditions for an effective date and automatic repeal; to repeal conflicting laws; and for other purposes.