2020 Georgia Code
Title 47 - Retirement and Pensions
Chapter 3 - Teachers Retirement System of Georgia
Article 7 - Retirement Allowances, Disability Benefits, and Spouses' Benefits
§ 47-3-126. Postretirement Benefit Adjustments
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:
- Recommendation of the actuaries for the board of trustees; and
- 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.
(Ga. L. 1969, p. 391, § 1; Ga. L. 1971, p. 573, § 1; Ga. L. 1975, p. 1601, § 1; Ga. L. 1977, p. 1011, § 1.)
OPINIONS OF THE ATTORNEY GENERAL
Appropriations Act cannot place ceiling on adjustment.
- General Assembly cannot, solely through language in an appropriations Act (see Ga. Const. 1983, Art. III, Sec. IX, Para. IV), place a ceiling or limit on the amount of a cost-of-living increase granted to a retiree of the Employees' Retirement System or Teachers Retirement System; such increases may be granted retroactively to January 1, 1984. 1984 Op. Att'y Gen. No. 84-19.
