History. Ga. L. 1958, p. 185, § 10; Ga. L. 1959, p. 354, § 4; Ga. L. 1968, p. 548, § 8; Ga. L. 1972, p. 421, § 1; Ga. L. 1976, p. 754, §§ 1, 5; Ga. L. 1979, p. 595, §§ 3, 4; Ga. L. 1982, p. 3, § 47; Ga. L. 1986, p. 1249, § 1; Ga. L. 1988, p. 630, § 2; Ga. L. 1992, p. 1037, § 4; Ga. L. 1992, p. 2147, § 1; Ga. L. 1996, p. 114, § 1; Ga. L. 1996, p. 300, § 1; Ga. L. 1998, p. 166, § 3; Ga. L. 2000, p. 1278, § 4; Ga. L. 2006, p. 229, § 1/HB 251; Ga. L. 2014, p. 179, § 3/HB 601; Ga. L. 2016, p. 354, § 3/HB 635; Ga. L. 2022, p. 187, § 1/HB 263.
The 2014 amendment, effective July 1, 2014, deleted former subsection (e), which read: “Any other provision of law to the contrary notwithstanding, additional retirement benefits shall be paid to each person, including a surviving spouse, who was receiving benefits under this chapter on January 1, 1993, or who became entitled to receive benefits on or after January 1, 1993. Such additional benefits shall be annual cost-of-living benefits equal to the benefit a member would otherwise be entitled to receive as calculated pursuant to subsections (a) through (d) of this Code section and any benefits previously received as authorized by this subsection multiplied by the percentage of any increase in the Consumer Price Index of the Bureau of Labor Statistics of the United States Department of Labor for all items and major groups, United States city average, for the immediately preceding calendar year; provided, however, that such annual percentage increase in benefits shall not exceed 2 percent regardless of the percentage increase in the Consumer Price Index. In any year in which there is no percentage increase in such Consumer Price Index, no additional retirement benefits shall be paid under this subsection.”
The 2016 amendment, effective July 1, 2016, substituted “30 years” for “20 years” throughout this Code section; and, in subsection (c), substituted “30 year period” for “20 year period” in the next to the last sentence and substituted “360” for “240” in the last sentence.
The 2022 amendment, effective July 1, 2022, substituted “computed using an interest rate and current mortality table adopted by the board” for “computed on the Group Annuity Table for 1951 using 5 1/2 percent interest” in the fifth sentence in paragraph (b)(1).