Georgia § 47-21-23 Actuarial services

Georgia Statutes

§ 47-21-23 — Actuarial services

(a)The actuary employed or retained by the board shall provide technical advice to the board regarding the operation of the fund.

(b)Utilizing the actuarial assumptions most recently adopted by the board, the actuary shall set the annual actuarial present values for the state plan for other post-employment benefits.

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Legislative History

Amended by 2007 Ga. Laws 23,§ 3, eff. 5/11/2007.

Nearby Sections

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Intent of codification and enactment of this title

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Adoption, amendment, or repeal of rules by boards of trustees of state retirement or pension systems; procedure; immediate adoption; filing of rules with Secretary of State; adoption of rules and regulations appropriate or necessary to maintain qualified status

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Creditable service not allowed for military service from which discharge was other than honorable

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Investment and reinvestment of assets of local retirement system; valuation and limitation on investments; duties of state auditor

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Maximum compensation used in computing employee and employer contributions

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Annual compensation limits in determining benefits or contributions due

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"Retirement system" defined; records exempt from public inspection

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Circumstances when survivors benefits are paid to secondary beneficiary

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Public retirement systems prohibited from having insurable interest in members; prohibition on expending or obligating funds for purchase of life insurance on members; exception

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Required education for public retirement system trustees

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Definitions

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Termination of membership in public retirement system for committing public employment related crimes; applicability to employees on July 1, 1985; determination of benefits

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Reduction and forfeiture of rights and benefits by public employees after July 1, 1985, for committing public employment related crimes; reimbursement of contributions

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