Georgia § 47-3-126 Postretirement benefit adjustments

Georgia Statutes

§ 47-3-126 — Postretirement benefit adjustments

Georgia § 47-3-126

Title47

This text of Georgia § 47-3-126 (Postretirement benefit adjustments) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 47-3-126 (2026).

Text

The board of trustees is authorized to adopt a method of providing postretirement benefit adjustments for a beneficiary in his postretirement years. Such method of adjustment may result in the adoption by the board of trustees of a method of financing other than that described in paragraphs (1) through (3) of Code Section 47-3-43 and shall be based upon:

(1)Recommendation of the actuaries for the board of trustees; and (2) Maintaining the actuarial soundness of the system. The board of trustees may specify a minimum age which a beneficiary must have attained in order to be eligible for the postretirement benefit adjustment.

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The board of trustees is authorized to adopt a method of providing postretirement benefit adjustments for a beneficiary in his postretirement years. Such method of adjustment may result in the adoption by the board of trustees of a method of financing other than that described in paragraphs (1) through (3) of Code Section 47-3-43 and shall be based upon: (1) Recommendation of the actuaries for the board of trustees; and (2) Maintaining the actuarial soundness of the system. The board of trustees may specify a minimum age which a beneficiary must have attained in order to be eligible for the postretirement benefit adjustment.