Georgia HB 202 Authorizes the boards of all public retirement systems operating under Title 47 of O.C.G.A to adopt any rules which are required to meet the necessary federal compliance standards. It requires all systems to comply with mandatory distribution requirements that are included in the Internal Revenue Code. Clarifies provisions relating to rollovers from public retirement systems to other qualified plans, and revises language relating to maximum benefits payable to ensure the language is consistent with the Internal Revenue Code.
Georgia HB 210 Amends provisions relating to membership in the Georgia Judicial Retirement System. Clarifies that certain attorney‘s employed by the office of Legislative Counsel or the Department of Law on June 30, 2005, shall retain all rights and obligations as exist on that day. Those in this group shall be subject to all provisions of this chapter applicable to solicitors-general of the state courts, and Employer contributions shall be paid by respective employers under such Code sections.
Georgia HB 452 Provides that members of the Georgia Judicial Retirement System who become members on or after July 1, 2009, not be entitled to receive any postretirement benefit adjustments.
Georgia SB 109 Provides for each of the following Councils to pay their respective employer contributions for retirement: Superior Court Judges, State Court Judges, Juvenile Court Judges and the Prosecuting Attorneys. Requires that each of these Councils be authorized, and directed to pay from funds appropriated or otherwise available in additional amount equal to the 5% contribution of the member plus an additional 20% so that the state contribution is in accordance with the Employees’ Retirement System of Georgia
Georgia SB 177 Provides that appellate court judges who become members of the Employees’ Retirement System of Georgia, and persons who become members of the Georgia Judicial Retirement System on or after July 1, 2009, not be entitled to Survivors benefits.
Kentucky HB 182 Permits the Judicial Form Retirement System board of trustees to promulgate administrative regulations to conform with federal statutes and regulations and to meet the qualification requirements under 26 U.S.C. Section 401(a).
Kentucky HB 289 Judicial Retirement Plan to honor qualified domestic relations orders if the orders meet the requirements established by the retirement systems or plan and by these sections
North Carolina HB 1507 & SB 703 Permits assets of Consolidated Judicial Retirement System and systems to may be invested in securities traded on a public securities exchange or market organized and regulated pursuant to the laws of the jurisdiction of such exchange or market (previously limited to “preferred or common stock”) . Signed into law by governor 6/11/09.
Oklahoma HB 1110 (2009) Requires Oklahoma Public Employees Retirement System deliver two reports of the fiscal activities of the State Judicial Retirement Fund for the fiscal year to the Legislative Service Bureau. House and Senate conference committee unable to come to agreement 5/27/09.
Oklahoma HB 2357 (2010) Requires Oklahoma Public Employees Retirement System deliver two reports of the fiscal activities of the State Judicial Retirement Fund for the fiscal year to the Legislative Service Bureau. Approved by full House 2/10/10. Approved with Senate amendment by full Senate 3/29/10. To House to concur with amendment.
Oklahoma SB 1059 Makes various modifications to employer contribution rates for Uniform Retirement System for Justices and Judges. Requires certain funds be transferred to the Judicial Retirement Fund. Approved by full Senate 3/9/09. Died in House.
Oklahoma SB 212 Specifies that the funded ratio for the State Judicial Retirement Fund should be at or near 90% (previously 100%) or be receiving sufficient contributions to amortize any unfunded liability of the fund according to the adopted amortization schedule. Modifies the Board of Trustees ability to raise employer contribution rates. Signed into law by Governor 5/26/09.
Virginia HB 1189 & SB 232 Changes member contributions for those under the Judicial Retirement System or other specified plans. Institutes a new service weight schedule based on the judge’s age at the time he or she is appointed or elected to an original term commencing July 1, 2010 Changes the requirements for unreduced early retirement benefits from 50 years of age and 30 years of creditable service, to the “Rule of 90” (combination of age and service equals 90). Approved by House and Senate 3/11/10. To Governor for approval.