The state shall pay benefits under this chapter to all superior court judges who are eligible for retirement under this chapter without regard to the sufficiency of the fund to pay such benefits. Prior to any withdrawal against general funds of the state for payment of benefits, all interest and moneys earned and accumulated by investment pursuant to Code Section 47-8-4 shall be disbursed as benefits. The employee contributions paid by the employer to the fund on behalf of a judge of the superior courts, as provided in subsection (a) of Code Section 47-8-44, after July 1, 1980, shall be considered to be payments made by the judge.
(Ga. L. 1945, p. 362, § 16; Ga. L. 1964, p. 198, § 1; Ga. L. 1980, p. 925, § 13.)
OPINIONS OF THE ATTORNEY GENERAL
O.C.G.A. § 47-8-80 is specific direction as to the purpose for which the earnings of the fund may be spent. 1982 Op. Att'y Gen. No. 82-100.
Transfer of earnings to other uses.- Earnings of the Superior Court Judges Retirement Fund and the District Attorneys Retirement Fund of Georgia cannot be transferred to the 1983 Superior Court Budget Fund for operations because using these funds for any other purpose than to insure payment of benefits would constitute a serious breach of fiduciary duty of the trustees of such funds who are limited to the powers given them by statute. 1982 Op. Att'y Gen. No. 82-100.
RESEARCH REFERENCES
Am. Jur. 2d.
- 60A Am. Jur. 2d, Pensions and Retirement Funds, § 1228 et seq.
C.J.S.- 70 C.J.S., Pensions, § 8.
CHAPTER 9 SUPERIOR COURT JUDGES RETIREMENT SYSTEM; SENIOR JUDGES