Georgia Code
Chapter 22 - Georgia Defined Contribution Plan
§ 47-22-9. Payment of Lump Sum on Termination of Employment; Continued Accrual of Earnings Absent Request for Lump Sum Payment; Withdrawal of Moneys and Closing of Account Upon Cessation of Employment; Vesting and Nonforfeitablility

History. Code 1981, § 47-22-9 , enacted by Ga. L. 1992, p. 1288, § 1; Ga. L. 2006, p. 1010, § 3/HB 1020; Ga. L. 2009, p. 947, § 30/HB 202; Ga. L. 2010, p. 1207, § 60/SB 436.
The 2009 amendment, effective May 11, 2009, rewrote this Code section.
The 2010 amendment, effective July 1, 2010, deleted the former second sentence of subsection (a) which read: “If such member dies before payment has been made, such payment shall be made to such person as the member has nominated, by written designation filed with the board; otherwise to the member’s estate.”
Editor’s notes.
Ga. L. 2010, p. 1207, § 1, not codified by the General Assembly, provides that: “The intent of this Act is to repeal obsolete and inoperative provisions and to make certain stylistic corrections in Title 47 of the Official Code of Georgia Annotated. Nothing in this Act shall deny, abridge, increase, renew, revive, or on any way affect any right, benefit, option, credit, or election to which any person was entitled pursuant to such title on June 30, 2010, and the board of trustees of each public retirement system is authorized and directed to provide by regulation for the continuation of any such right, benefit, option, credit, or election not otherwise covered in this Act; provided, however, that any such right, benefit, option, credit, or election shall be subject to the statutory provisions in effect on June 30, 2010.