Georgia Code
Article 7 - Retirement Allowances, Disability Benefits, Spouses’ Benefits
§ 47-2-121. Optional Retirement Allowances

(e.1) When option two or three is elected and the spouse or child of the retired member who qualifies as a dependent under the Internal Revenue Code of 1986 is the person designated to receive all amounts and benefits upon the death of the retired member, option five shall consist of the added provision that in the event the spouse or dependent child predeceases the retired member, the retirement allowance payable to the retired member after the death of the spouse or dependent child shall be equal to the maximum retirement allowance which the retired member would have been entitled to receive under this chapter.
(e.2) (1) As used in this subsection, the term “retired member” means a person retired under this chapter who elected an optional allowance under this Code section with the spouse designated as the person to receive all amounts upon the death of the retired member.
(e.3) (1) As used in this subsection, the term “retired member” means a person retired under this chapter who elected an optional allowance under this Code section with a child who qualifies as a dependent under the Internal Revenue Code of 1986 designated as the person to receive all amounts upon the death of the retired member.
(e.4) Option six shall consist of a reduced retirement allowance together with a partial lump sum distribution. This option may be elected by any retiring member including members electing another optional allowance under this Code section except that this option shall not be available to members retiring pursuant to Code Section 47-2-123 or members subject to the requirements of subsection (e) of Code Section 47-2-120. The amount of the lump sum distribution under this subsection may not exceed the sum of 36 months of the monthly retirement allowance the retiring member would have received had he or she not elected the partial lump sum option. The partial lump sum distribution will be made as a single payment payable at the time the first monthly retirement allowance is paid to the retired member.
(2) In the event a designated spouse predeceases a retired member and the retired member subsequently remarries, the retired member may elect to begin receiving an actuarially reduced benefit of equivalent value and reestablish on behalf of the new spouse the same option which was applicable to the deceased former spouse, but such option on behalf of the new spouse may not be reestablished until one year after the date of remarriage or until a child of the remarried couple is born, whichever is earlier.
(3) This subsection applies to retired members who retired at any time prior to July 1, 1992, as well as to those who retire on or after that date, and it is specifically provided that the election of option five under subsection (e.1) of this Code section is not necessary for the purposes of this subsection.
(2) In the event a designated dependent child predeceases a retired member and the retired member is married or subsequently marries, the retired member may elect to begin receiving an actuarially reduced benefit of equivalent value and reestablish on behalf of the spouse the same option which was applicable to the deceased dependent child, but such option on behalf of the spouse may not be reestablished until one year after the date of the death of the dependent child or, in the case of the remarriage of the retired member, one year after the date the retired member remarries.
(3) This subsection applies to retired members who retired at any time prior to July 1, 1996, as well as to those who retire on or after that date.
History. Ga. L. 1949, p. 138, § 5; Ga. L. 1957, p. 172, § 1; Ga. L. 1957, p. 283, § 7; Ga. L. 1959, p. 107, § 5; Ga. L. 1961, p. 143, § 4; Ga. L. 1976, p. 247, § 1; Ga. L. 1984, p. 810, § 1; Ga. L. 1988, p. 636, § 1; Ga. L. 1992, p. 1141, §§ 1, 2; Ga. L. 1996, p. 1248, §§ 1, 2; Ga. L. 1998, p. 153, § 1; Ga. L. 2004, p. 580, § 1; Ga. L. 2004, p. 588, §§ 1, 2; Ga. L. 2005, p. 46, § 1/HB 178; Ga. L. 2005, p. 52, § 1/HB 381.
Code Commission notes.
Pursuant to Code Section 28-9-5, in 2004, subsection (i) as added by Ga. L. 2004, p. 588, § 2 was redesignated as subsection (j).
Editor’s notes.
Ga. L. 1992, p. 2975, adding subsection (e.2) and amending subsection (h) of this Code section, was not concurrently funded as required by Code Section 47-20-50 and, therefore, did not become law and became repealed on July 1, 1992. Ga. L. 1992, p. 1141, §§ 1 and 2, also adding subsection (e.2) and amending subsection (h) of this Code section, was funded. See the state auditor’s report at Ga. L. 1992, p. CDV.

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