Bill
Bill > SB143
summary
Introduced
02/11/2025
02/11/2025
In Committee
02/05/2026
02/05/2026
Crossed Over
02/17/2026
02/17/2026
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To amend Article 6 of Chapter 7 of Title 47 of the Official Code of Georgia Annotated, relating to retirement, retirement allowances, disability benefits, and death benefits relative to the Georgia Firefighter's Pension Fund, so as to provide for certain members to retire at age 50; to provide for certain members to continue working while receiving retirement benefits; to provide for certain members who have retired and reentered employment to accrue creditable service without a seven-year minimum; to amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Investment Authority Law," so as to provide for an exception for the Georgia Firefighters' Pension Fund to invest in assets rated below investment grade; to provide for a maximum percentage of assets to be invested in such assets; to provide conforming changes; to provide for related matters; to provide conditions for an effective date and automatic repeal; to repeal conflicting laws; and for other purposes.
AI Summary
This bill modifies the Georgia Firefighter's Pension Fund by allowing certain members to retire at age 50 if their age and years of service combined equal at least 80, and permits these members to continue working while receiving retirement benefits, though they cannot earn additional service credit. It also allows members with at least 15 years of service to receive a vested monthly benefit upon termination, payable when they reach age 55 or stop working, whichever is later. Additionally, the bill permits the Georgia Firefighters' Pension Fund to invest up to 10 percent of its assets in lower-rated investments, which are typically considered riskier but can offer higher returns, and sets an effective date of July 1, 2026, contingent on concurrent funding.
Committee Categories
Labor and Employment
Sponsors (6)
John Albers (R)*,
Kay Kirkpatrick (R)*,
Chuck Payne (R)*,
Randy Robertson (R)*,
Shawn Still (R)*,
Rick Williams (R)*,
Last Action
House Second Readers (on 02/19/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/70178 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/242823 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/241695 |
| Auditor's Certification | https://www.legis.ga.gov/api/legislation/document/20252026/241696 |
| Actuarial Investigation | https://www.legis.ga.gov/api/legislation/document/20252026/241697 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/231998 |
| LC 56 0297 Auditor's Certification | https://www.legis.ga.gov/api/legislation/document/20252026/232017 |
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