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HB 924

Legislative Retirement System; match benefit amounts payable to former and current retired legislators to benefits payable to legislators who were in office on or after January 1, 2022

2025-2026 Regular Session Introduced by Jon Burns and 4 co-sponsors

House Bill 924 increases retirement benefits for all Georgia legislators, ensuring fairness by aligning payouts for current and former members with those serving since 2022.

House First Readers
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Bill Summary · HB 924

Summary of House Bill 924

Bill Number: HB 924
Title: Legislative Retirement System; match benefit amounts payable to former and current retired legislators to benefits payable to legislators who were in office on or after January 1, 2022
Status: House First Readers
Introduced: April 04, 2025

Purpose and Intent

House Bill 924 aims to amend the Georgia Legislative Retirement System by aligning the retirement benefits of former and currently retired legislators with those benefits available to legislators who have served in office on or after January 1, 2022. The intent is to ensure equitable retirement benefits for all legislators, regardless of when they served.

Key Provisions

  • Benefit Adjustment: The bill proposes to revise the retirement benefit structure outlined in Code Section 47-6-80. Specifically, it will:

    • Increase the monthly service retirement allowance to $50.00 for each year of creditable service and an additional $200.00 for each year of presiding creditable service for all retired and vested former members.
    • This adjustment applies to those who were contributing members on or after January 1, 2022, as well as to those who were retired prior to this date.

  • Eligibility Criteria:

    • Members can retire upon reaching age 65 with eight years of service or age 62 with eight years of membership service.
    • The effective date of retirement will be the first day of the month in which the application is received, but not earlier than the first day of the month following the last month of employment.

  • Automatic Repeal Clause: The bill includes a provision for automatic repeal on July 1, 2026, unless it is determined to be concurrently funded as required by the Public Retirement Systems Standards Law.

  • Conflict Repeal: All laws and parts of laws that conflict with this Act will be repealed.

Who Would Be Affected

  • Current and Former Legislators: The bill directly impacts all current and former members of the Georgia Legislative Retirement System, particularly those who retired before January 1, 2022, by allowing them to receive increased benefits.
  • State Budget: The financial implications of this bill will affect the state budget, as it may increase the retirement payouts to eligible members.

Procedural Aspects

  • Effective Date: The bill is set to become effective on July 1, 2026, contingent upon its funding status.
  • Legislative Actions:
    • Introduced and read for the first time in the House on April 4, 2025.

Conclusion

House Bill 924 seeks to rectify disparities in retirement benefits among legislators, ensuring that all retired members receive equitable compensation based on their years of service. By aligning benefits with those of newer legislators, the bill aims to foster fairness within the Georgia Legislative Retirement System.

Compiled from official sources — confirm details with the bill’s official record.

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