GeorgiaCounties and cities send insurance tax distributions to peace officers' retirement fund
Counties and cities must send part of certain state insurance tax distributions to the peace officers' retirement fund, whose board may later raise benefits if funding allows.
What it does
Counties and cities must send 1.5 percent of certain state insurance tax distributions to the peace officers' retirement fund each year.
The state intends to set aside an additional amount for the retirement fund each year, but the payment depends on the budget process.
Starting in 2027, the fund's board may raise the monthly retirement benefit amount, up to $35 for each year of service, if the system meets a funding test.
Argument forThe dedicated payments may help support peace officers' retirement benefits, and the money cannot be used for other purposes.
Argument againstCounty and city budgets may have less money for local services because they must send part of these distributions to the fund.
More detail
Each county and city must send 1.5 percent of certain distributed funds to the Peace Officers' Annuity and Benefit Fund. The rule covers every county and municipal corporation receiving funds under the cited state insurance premium tax provisions. They must send the money on or before October 30 each year.
The General Assembly states its intent to provide the fund an annual amount equal to one-half of 1 percent of state insurance premium taxes collected. The intended payment would go to the Peace Officers' Annuity and Benefit Fund. The payment depends on the state's appropriations process; the text does not guarantee that the money will be appropriated. The stated intent applies each year.
The fund's board may raise the monthly benefit multiplier for eligible retirees, up to $35. The multiplier applies to the monthly single-life annuity, which pays the member for life and is based on years of service. Eligibility includes age and service rules, with a higher membership-service requirement for people who joined on or after July 1, 2010. Any increase must be at least $1 and must not lower the system's funded ratio below 90 percent, based on the board actuary's recommendation. The board may make an increase on or after July 1, 2027.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jul 1Effective DateLatest
- May 6Act 416Major
- May 6Senate Date Signed by Governor Brian KempBecame Law
- Apr 10Senate Sent to GovernorTo Governor
- Mar 27Senate Agreed House Amend or Sub
- Vote recorded Senate Vote #855 - 2025-2026 Regular Session. Result: pass.Upper
- Vote recorded Senate Vote #855 - 2025-2026 Regular Session. Result: pass.Upper
- Mar 19House Passed/Adopted By SubstitutePassed House
- Vote recorded House Vote #725 - 2025-2026 Regular Session. Result: pass.Lower
- Vote recorded House Vote #725 - 2025-2026 Regular Session. Result: pass.Lower
- Mar 19House Third ReadersMinor
- Mar 18House Committee Favorably Reported By SubstituteMinor
- Mar 9House Second ReadersMinor
- Mar 6House First ReadersMinor
- Mar 4Senate Passed/Adopted By SubstitutePassed Senate
- Vote recorded Senate Vote #635 - 2025-2026 Regular Session. Result: pass.Upper
- Vote recorded Senate Vote #635 - 2025-2026 Regular Session. Result: pass.Upper
- Mar 4Senate Third ReadMinor
- Feb 25Senate Committee Favorably Reported By SubstituteMinor
- Jan 12Senate RecommittedMinor
- Jan 12Senate Taken from Table
- 2025
- Mar 6Senate Tabled
- Mar 4Senate Read Second TimeMinor
- Mar 3Senate Committee Favorably Reported By SubstituteMinor
- Feb 27Senate Read and ReferredMinor
- Feb 26Senate HopperIntroduced
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