2020 Georgia Code
Title 45 - Public Officers and Employees
Chapter 18 - Employees' Insurance and Benefits Plans
Article 2 - Deferred Compensation Plans
- § 45-18-30. "Employee" Defined
- § 45-18-31. Deferred Compensation Plans Authorized for State, Municipalities, Counties, or Other Political Subdivisions
- § 45-18-32. Administration of Plans; Participation by Employees of County Boards of Health, School Systems, Lake Allatoona Preservation Authority, the Georgia Federal-State Shipping Point Inspection Service, and the Georgia Firefighters' Pension Fund; Provision in Plans for Income Tax Deferral Benefits
- § 45-18-33. Payments From Deferred Compensation Funds for Purchase of Insurance, Endowments, Annuities, Mutual Funds, or Savings From Funds Derived From Deferral; Custodian of Assets of the Fund
- § 45-18-34. Plans Not to Reduce Pensions or Other Benefits
- § 45-18-35. Plans to Operate Without Cost to State, Counties, Cities, or Other Political Subdivisions
- § 45-18-36. Salary Deductions; Records of Individual Account Information
- § 45-18-37. Special Pay Plan for Deferred Payment of Special Compensation to Reduce Federal Tax Burden
- § 45-18-38. Board of Trustees of the Employees' Retirement System to Be the Successor to the State Personnel Board and Employee Benefit Council for Administration of Deferred Compensation Plans; Employment of and Contracting With Agents
- For note, "How Special is the Special Timing Rule? Analyzing the Timing of FICA Taxation in Nonqualified Deferred Compensation Plans," see 34 Ga. St. U. L. Rev. 427 (2018).
OPINIONS OF THE ATTORNEY GENERAL
Distinction between state deferred compensation plans and optional life insurance programs under O.C.G.A. § 45-7-51. - State Deferred Compensation Law pertains to deferred compensation plan which is aimed primarily at deferring compensation and taxable event of receiving compensation until a later time. Ga. L. 1976, p. 1603, § 1 (see now O.C.G.A. § 45-7-51) creates an optional life insurance program. This optional program is to be administered by each separate agency, whereas a deferred compensation plan is to be administered by the State Personnel Board. Accordingly, there is no conflict between the two programs and both may exist simultaneously. 1980 Op. Att'y Gen. No. 80-6.
State Personnel Board cannot contract to defer compensation for state tax purposes. 1980 Op. Att'y Gen. No. 80-6.
State employee providing services for state for compensation is eligible to participate in deferred compensation plan. 1980 Op. Att'y Gen. No. 80-6.
State Personnel Board has no discretion in providing services for state for compensation. It cannot exclude eligible employees from participating in plan, and it may not allow ineligible employees to participate. 1980 Op. Att'y Gen. No. 80-6.
Deferred funds must be included when calculating withholding taxes for year.- Even if funds deferred are not included in taxable income for state income tax purposes for year earned, they would be included for purposes of calculating withholding taxes during that year. 1980 Op. Att'y Gen. No. 80-6.
