Georgia Code, Title 47, Chapter 4, Article 2 - Creation, Administration, and Management of the Assets of the Retirement System

• § 47-4-20 - Creation and Administration of the Retirement System; Corporate Powers and Privileges; Rights in Actions; Name Under Which Retirement System Business Shall Be Transacted
  There is created a retirement system which shall be placed under the management and control of the board for the purposes of providing retirement...
• § 47-4-21 - Creation and Administration of the Retirement Fund
  There is created the Public School Employees Retirement Fund, which shall be administered by the board.
• § 47-4-22 - Membership of the Board; Expenses and Per Diem; Quorum for the Transaction of Business; Chairman, Secretary, and Treasurer of the Board
  (a) The board shall be composed of all members of the Board of Trustees of the Employees' Retirement System of Georgia and two additional...
• § 47-4-23 - Exemption of Members of the Board From Liability for Their Acts, Omissions, and Conduct; Indemnification of Members of the Board
  The members of the board, and each of them, shall be free from all liability, joint or several, for their acts, omissions, and conduct...
• § 47-4-24 - Legal Adviser of the Board
  The Attorney General shall be the legal adviser of the board.
• § 47-4-25 - Powers and Duties of the Board
  (a) The board is given the following powers and duties: (1) To provide for the collection of all money provided for in this chapter;...
• § 47-4-26 - Power of Board Over Funds; Special Account for Deposit of Funds and Payment of Benefits and Expenses; Investment Powers; Power to Employ Agents
  (a) The board shall be the trustees of the funds and shall have control of the funds provided for in this chapter and all...
• § 47-4-27 - Power of Board to Take, Hold, and Invest Any Gift, Grant, or Bequest
  The board may take any gift, grant, or bequest, any money, any real or personal property, or any other thing of value and hold...
• § 47-4-28 - Duty of Board to Keep Records of Accounts in Granting Benefits and Records of the Operations of the Board; Annual Financial Statement to the General Assembly
  The board shall keep permanent records of all its accounts in granting retirement benefits and shall keep proper records and books concerning its operation....
• § 47-4-29 - Appropriations for Employer Contributions; Creation of an Expense Fund; Payment Prior to Commencement Date of Employer Contributions and Expenses of Retirement System
  (a) The General Assembly shall make appropriations to the retirement system sufficient to provide for the employer contributions required by subsection (b) of Code...
• § 47-4-30 - Plan Year Designated
  For purposes of complying with federal Internal Revenue Service rules and regulations, the plan year for this retirement system shall be the 12 month...

Last modified: October 14, 2016