Georgia Code, Title 47, Chapter 22 - Georgia Defined Contribution Plan

• § 47-22-1 - Definitions
  As used in this chapter, the term: (1) "Accumulated contributions" means the sum of all amounts deducted from the compensation of a member's salary...
• § 47-22-2 - Creation of Georgia Defined Contribution Plan
  There is created and placed under the administration of the Board of Trustees of the Employees' Retirement System of Georgia the Georgia Defined Contribution
• § 47-22-3 - Executive Secretary
  There is created an office known as the executive secretary of the Georgia Defined Contribution Plan, and the director of the Employees' Retirement System...
• § 47-22-4 - Administration and Operation of Plan; Records; Payment of Employees and Expenses; Investment
  (a) The general administration and responsibility for the proper operation of the plan and for putting this chapter into effect are vested in the...
• § 47-22-5 - Trustee of Funds of Plan; Power to Invest Funds; Conflicts of Interest As to Investments; Custody of Funds; Vouchers
  (a) The board shall be the trustee of the funds of the plan; may invest and reinvest such funds; and may hold, purchase, sell,...
• § 47-22-6 - Legal Adviser
  The Attorney General shall be the legal adviser of the board.
• § 47-22-7 - Membership in Plan
  Any person who is an employee on July 1, 1992, shall become a member of the plan on such date. Any person who becomes...
• § 47-22-8 - Member Contributions; Earnings
  Each member shall contribute 7 1/2 percent of such member's gross salary. Such contributions shall be made through payroll deductions. Such amount so deducted...
• § 47-22-9 - Payment of Lump Sum on Termination of Employment; Continued Accrual of Earnings Absent Request for Lump Sum Payment; Withdrawal of Moneys and Closing of Account Upon Cessation of Employment; Vesting and Nonforfeitablility
  (a) Upon the written request of a member who ceases to be an employee, a lump sum amount shall be paid to such person...
• § 47-22-10 - Lump Sum Payment on Death of Member
  Upon the death of any member, a lump sum amount shall be paid to such person as the member has nominated by written designation,...
• § 47-22-11 - Retirement; Option to Receive Periodic Payment
  Any member shall be entitled to retire upon attaining the age of 65. Such member shall have the option to receive a periodic payment...

Last modified: October 14, 2016