Each member employer that has adopted a plan providing retirement benefits under Code Section 47-5-40 is authorized in its plan and contract to determine what credit, if any, shall be allowed for prior service. The financial liability incurred by the member employer for any such prior service credits allowed shall be actuarially determined and incorporated in the contract, which shall set forth the manner in which such liability shall be defrayed by the member employer.
History. Code 1981, § 47-5-44 , enacted by Ga. L. 1984, p. 1041, § 11.
Structure Georgia Code
Title 47 - Retirement and Pensions
Chapter 5 - Georgia Municipal Employees Benefit System
§ 47-5-41. Establishment and Use of Master Plans
§ 47-5-42. Provisions of Contracts and Plans
§ 47-5-43. Provisions for Early and Normal Retirement Ages
§ 47-5-44. Credit for Prior Service
§ 47-5-45. Uninterrupted Participation During Transfer From One Member Municipality to Another
§ 47-5-46. Transfer of Credits
§ 47-5-47. Return of Contributions to Employee or Employee’s Estate