SB156 - Retirement; counties, municipal corporations; post-employment benefits; define certain terms
SB156 - Retirement; counties, municipal corporations; post-employment benefits; define certain terms
Sponsored by: Balfour,Don 9th
A BILL to be entitled an Act to amend Article 2 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, relating to minimum funding standards for public retirement systems, so as to provide that counties, municipal corporations, and other political subdivisions may provide post-employment benefits other than retirement or pension benefits; to define certain terms; to provide that such plans may be prefunded to comply with certain financial reporting, disclosure, and actuarial requirements; to provide that such funds shall be held in trust for the intended purpose; to provide that such funds are declared to be public property exempt from state and local taxation; to provide for related matters; to repeal conflicting laws; and for other purposes.