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

• § 47-2-20 - Creation of Retirement System; Purpose, Management, Corporate Powers and Privileges, and Certain Rights in Actions At Law of Retirement System; Name Under Which Retirement System to Transact Business
  A retirement system is established and placed under the management of the board of trustees for the purpose of providing retirement allowances and other...
• § 47-2-21 - Power and Duty of Board of Trustees to Administer and Operate Retirement System; Membership of Board; Vacancies; Expenses; Oath; Quorum
  (a) The administration and responsibility for the proper operation of the retirement system and for effectuating this chapter are vested in the board of...
• § 47-2-22 - Election of Chairperson and Director; Actuarial Services; Application of State System of Personnel Administration; Payment of Costs of Personnel Administration
  (a) The board of trustees shall elect a chairperson from its membership and shall employ a director who shall not be a trustee.(b) The...
• § 47-2-23 - Treasurer of the Board of Trustees; Manner of Payment of Funds of the Retirement System; Surety Bond for the Treasurer
  There shall be a treasurer of the board of trustees, who shall be appointed by it and subject to its rules and regulations. He...
• § 47-2-24 - Designation of Medical Board; Duties
  The board of trustees shall designate a medical board of three physicians who are not eligible to participate in the retirement system. If required,...
• § 47-2-25 - Legal Adviser of the Board of Trustees
  The Attorney General shall be the legal adviser of the board of trustees.
• § 47-2-26 - Designation of an Actuary; Duties of Actuary; Annual Valuation of Contingent Assets and Liabilities of the Retirement System
  (a) The board of trustees shall designate an actuary who shall be its technical adviser on matters regarding the operation of the funds created...
• § 47-2-27 - Duty of Board of Trustees to Keep Data Necessary for Actuarial Valuations; Duty to Keep Records of Proceedings; Annual Report
  (a) The board of trustees shall keep in convenient form such data as shall be necessary for actuarial valuations of the various funds of...
• § 47-2-28 - Simplified Tables for Estimation of Retirement Allowances; Effect on Existing Rights and Benefits; Formula for Calculating Service Retirement Allowances
  (a) On and after April 1, 1964, the board of trustees is authorized to adopt simplified benefit tables which will enable a member to...
• § 47-2-29 - Postretirement Benefit Adjustments
  (a) On a date to be established by the board of trustees, but not before April 1, 1967, the board of trustees is authorized...
• § 47-2-30 - Deposits of Cash Available for Disbursements for Benefits and Other Payments
  For the purpose of meeting disbursements for pensions, annuities, and other payments, cash may be kept available on deposit in one or more banks...
• § 47-2-31 - Investment Powers; Power to Employ Agents As Investment Advisers and to Make Investments
  (a) The board of trustees shall be the trustees of the funds and shall have full power to invest and reinvest the assets of...
• § 47-2-32 - Personal Interest in Gains or Profits From Investments Made by the Board of Trustees; Unauthorized Use of Assets of the Retirement System
  Except as otherwise provided in this chapter, no trustee or employee of the board of trustees shall have any personal interest in the gains...
• § 47-2-33 - 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