Definitions

  1. Law
  2. Georgia Code
  3. Retirement and Pensions
  4. Public Retirement Systems Standards
  5. Retirement Bills in General Assembly
  6. General Provisions
  7. Definitions

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As used in this article, the term:

  1. "Amendment" means any amendment, including a substitute bill, made to a retirement bill by any committee of the House or Senate or by the House or Senate.
  2. "LC number" means that number preceded by the letters "LC" assigned to a bill by the Office of Legislative Counsel when that office prepares a bill for a member of the General Assembly.
  3. "Nonfiscal amendment" means an amendment to a retirement bill having a fiscal impact, which amendment does not change any factor of an actuarial investigation specified in subsection (a) of Code Section 47-20-36.
  4. "Nonfiscal retirement bill" means a retirement bill which does not affect the cost or funding factors of a retirement system or a retirement bill which affects such factors only in a manner which does not:
    1. Grant a benefit increase under the retirement system affected by the bill;
    2. Create an actuarial accrued liability for or increase the actuarial accrued liability of the retirement system affected by the bill; or
    3. Increase the normal cost of the retirement system affected by the bill.

    (4.1) "Nonfiscal retirement bill" also means a retirement bill which removes or increases a mandatory retirement age of a retirement system or which removes or modifies provisions of a retirement system requiring forfeiture of benefits upon failure to retire upon reaching a mandatory retirement age or which provides for any combination of the foregoing.

  5. "Reduction in cost amendment" means an amendment to a retirement bill having a fiscal impact which reduces the cost of the bill as such cost is determined by the actuarial investigation for the bill prepared pursuant to Code Section 47-20-36.
  6. "Retirement bill having a fiscal impact" means any retirement bill creating or establishing a retirement system and any other retirement bill other than a nonfiscal retirement bill. Such term shall include any bill requiring a public retirement system to divest or refrain from investing in specific investments or classes of investments.

(Code 1981, §47-20-30, enacted by Ga. L. 1983, p. 1368, § 1; Ga. L. 1985, p. 146, § 1; Ga. L. 1986, p. 30, § 1; Ga. L. 1987, p. 240, § 2; Ga. L. 1990, p. 767, § 1; Ga. L. 2008, p. 1094, § 2/SB 327.)

The 2008 amendment, effective July 1, 2008, added the last sentence in paragraph (6).


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