Ga. Code § 47-1-83

Current through 2023-2024 Legislative Session Chapter 709

Section 47-1-83 - Vesting of member's accrued benefit as of date of termination or partial termination of public retirement or pension system

In accordance with subsection (a) of the federal Treasury Regulation Section 1.401-6, in the event of a termination or partial termination of a public retirement or pension system, a member's accrued benefit as of the date of such termination or partial termination, to the extent then funded, shall be nonforfeitable and fully vested under federal Internal Revenue Code requirements.

OCGA § 47-1-83

Amended by 2014 Ga. Laws 521,§ 2, eff. 7/1/2014.

Added by 2009 Ga. Laws 275,§ 8, eff. 5/11/2009.