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Latest Legislation
The 2010 legislative session is now complete. A
final legislative update is available to your right. The synopsis is
provided for information only. Bill descriptions highlight the major
amendments proposed to Georgia law as it relates to TRS and do not
contain every aspect of the proposed legislation. Once a bill is signed
into law, detailed information on the effects the legislation will be
available by TRS.
The 2010 session was the second year of the two-year (2009-10) biennium session. All retirement legislation that was considered for passage during the 2009-10 biennium session, that did not pass both the House and the Senate, is no longer valid and will not be reconsidered again in 2011 unless new legislation is introduced.
2010 Passed Legislation
Act No. 360 (HB 1055) - This bill gradually increases the exclusion amount of retirement income for State income tax purposes for retirees age 65 or older as follows:
Taxable year beginning January 1, 2012 $ 65,000.00
Taxable year beginning January 1, 2013 $100,000.00
Taxable year beginning January 1, 2014 $150,000.00
Taxable year beginning January 1, 2015 $200,000.00
Taxable year beginning January 1, 2016 All retirement income
For retirees age 62 or older, but less than age 65, the exclusion amount remains at $35,000.00. This bill became effective with the Governor’s signature on May 12, 2010.
Act No. 378 (HB 1090) - This bill abolishes the Georgia Agrirama Development Authority and transfers the functions of the Authority to the Board of Regents effective July 1, 2010. With the transfer, affected employees will become TRS members, unless otherwise eligible to maintain their ERS membership. This bill became effective with the Governor’s signature on May 20, 2010.
Act No. 409 (HB 1086) - This bill amends Title 50 to state that the home email address of public employees and teachers and employees of public schools is not for public disclosure. The bill further provides that personal information of employees and teachers of nonpublic schools is also exempt from public disclosure. This bill is effective July 1, 2010.
Act No. 451 (HB 249) - This bill references O.C.G.A. § 47-1-14 in Title 50 regarding records exempt from public disclosure. Effective July 1, 2010.
Act No. 457 (HB 969) - This bill aligns Georgia law with federal Internal Revenue Code. TRS currently adheres to IRS regulations as it relates to 401(a) pension plans. This bill simply adds corresponding language to Georgia law to mirror federal law.
This bill further amends the provisions relative to the purchase of air time service. Currently, a TRS member may purchase air time upon attainment of 25 years of creditable service. HB 969 amends this provision to allow for the purchase of air time service only in conjunction with the member’s application for retirement. If the retirement application is withdrawn or denied, the air time service purchase shall be void.
Additionally, this bill would make technical corrections to ensure that 60 is the age reported as the normal retirement age in all sections of TRS Code. In 1992, when the normal retirement age used in the calculation of early retirement penalty was reduced from 62 to 60, the age of 62 under disability provisions should also have been changed to 60. HB 969 aligns the age for
disability retirement with the age for service retirement. This bill became effective with the Governor’s signature on May 24, 2010.
Act No. 681 (SB 436) - This bill cleans-up obsolete language throughout Title 47 and makes typographical and/or stylistic changes. Effective July 1, 2010.
The 2010 session was the second year of the two-year (2009-10) biennium session. All retirement legislation that was considered for passage during the 2009-10 biennium session, that did not pass both the House and the Senate, is no longer valid and will not be reconsidered again in 2011 unless new legislation is introduced.
2010 Passed Legislation
Act No. 360 (HB 1055) - This bill gradually increases the exclusion amount of retirement income for State income tax purposes for retirees age 65 or older as follows:
Taxable year beginning January 1, 2012 $ 65,000.00
Taxable year beginning January 1, 2013 $100,000.00
Taxable year beginning January 1, 2014 $150,000.00
Taxable year beginning January 1, 2015 $200,000.00
Taxable year beginning January 1, 2016 All retirement income
For retirees age 62 or older, but less than age 65, the exclusion amount remains at $35,000.00. This bill became effective with the Governor’s signature on May 12, 2010.
Act No. 378 (HB 1090) - This bill abolishes the Georgia Agrirama Development Authority and transfers the functions of the Authority to the Board of Regents effective July 1, 2010. With the transfer, affected employees will become TRS members, unless otherwise eligible to maintain their ERS membership. This bill became effective with the Governor’s signature on May 20, 2010.
Act No. 409 (HB 1086) - This bill amends Title 50 to state that the home email address of public employees and teachers and employees of public schools is not for public disclosure. The bill further provides that personal information of employees and teachers of nonpublic schools is also exempt from public disclosure. This bill is effective July 1, 2010.
Act No. 451 (HB 249) - This bill references O.C.G.A. § 47-1-14 in Title 50 regarding records exempt from public disclosure. Effective July 1, 2010.
Act No. 457 (HB 969) - This bill aligns Georgia law with federal Internal Revenue Code. TRS currently adheres to IRS regulations as it relates to 401(a) pension plans. This bill simply adds corresponding language to Georgia law to mirror federal law.
This bill further amends the provisions relative to the purchase of air time service. Currently, a TRS member may purchase air time upon attainment of 25 years of creditable service. HB 969 amends this provision to allow for the purchase of air time service only in conjunction with the member’s application for retirement. If the retirement application is withdrawn or denied, the air time service purchase shall be void.
Additionally, this bill would make technical corrections to ensure that 60 is the age reported as the normal retirement age in all sections of TRS Code. In 1992, when the normal retirement age used in the calculation of early retirement penalty was reduced from 62 to 60, the age of 62 under disability provisions should also have been changed to 60. HB 969 aligns the age for
disability retirement with the age for service retirement. This bill became effective with the Governor’s signature on May 24, 2010.
Act No. 681 (SB 436) - This bill cleans-up obsolete language throughout Title 47 and makes typographical and/or stylistic changes. Effective July 1, 2010.
