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O.C.G.A. § 47-2-351 <-- --> O.C.G.A. §47-2-353

2010 Georgia Code

TITLE 47 - RETIREMENT AND PENSIONS

CHAPTER 2 - EMPLOYEES' RETIREMENT SYSTEM OF GEORGIA
ARTICLE 10 - GEORGIA STATE EMPLOYEES' PENSION AND SAVINGS PLAN
§ 47-2-352 - Employee and employer contributions

O.C.G.A. 47-2-352 (2010)
47-2-352. Employee and employer contributions


(a) Every member subject to this article shall contribute employee membership contributions in an amount equal to 1 1/4 percent of earnable compensation which shall be deducted by each employer from the earnable compensation of each member for each and every payroll period and paid monthly to the board of trustees. Such amount shall be credited to the individual accounts of the members in the annuity savings fund.

(b) From and after January 1, 2009, each employer shall pay monthly to the board of trustees, on behalf of each member subject to this article, the aggregate of employer and employee contributions required by this chapter. With respect to members subject to this article, no employer contributions shall be considered as accumulated contributions of the member and none shall be eligible for withdrawal by the member upon cessation of state service. Such amount shall be credited to the pension accumulation fund.