Georgia § 47-23-84 Payment of remainder of accumulated contributions upon death

Georgia Statutes

§ 47-23-84 — Payment of remainder of accumulated contributions upon death

Georgia § 47-23-84

Title47

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Bluebook

O.C.G.A. § 47-23-84 (2026).

Text

If, upon the deaths of a retired member and, if applicable, a designated survivor, the total monthly benefits paid to the retired member and to any designated survivor do not equal or exceed the retired member's accumulated contributions at the time of his or her retirement, the difference shall be refunded to the person designated in writing by the member or the designated survivor, whichever was the last to receive a monthly retirement benefit under this Code section. If no person has been so designated, the amount shall be paid to the estate of the member or the designated survivor, whichever was the last to receive a monthly retirement benefit under this Code section.

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If, upon the deaths of a retired member and, if applicable, a designated survivor, the total monthly benefits paid to the retired member and to any designated survivor do not equal or exceed the retired member's accumulated contributions at the time of his or her retirement, the difference shall be refunded to the person designated in writing by the member or the designated survivor, whichever was the last to receive a monthly retirement benefit under this Code section. If no person has been so designated, the amount shall be paid to the estate of the member or the designated survivor, whichever was the last to receive a monthly retirement benefit under this Code section.

Legislative History

Added by 2012 Ga. Laws 649,§ 1, eff. 7/1/2012, only if it is determined to have been concurrently funded as provided in Chapter 20 of Title 47; otherwise, this section shall be automatically repealed on 7/1/2012, as required by Code Section 47-20-50(a).