The following is a synopsis of legislation enacted during the 2005 session of the General Assembly having an effect on the Employees' Retirement System (ERS) and/or its members.  The laws are effective July 1, 2005. 

Act No. 116 (Senate Bill 161) – Amends 47-2-98 to allow a member who transferred to the Department of Community Affairs from the Georgia Housing and Finance Authority on July 1, 1995 to supplement amount required for full service accreditation.

Act No. 11 (House Bill 178) – Code Corrections (punctuation).

Act No. 85 (House Bill 319) – Amends 47-20-84 to allow large retirement systems to invest in exchange traded securities.

Act No. 14 (House Bill 381) – Amends 47-2-121(e.4) to correct wording from Option 5 to Option 6.  Also, allows a retiree who was unmarried at the time of retirement and elected an optional allowance to revoke the election upon marriage and designate the spouse as beneficiary.  In such event, the retiree shall receive an actuarially reduced benefit allowance.

Act No. 104 (House Bill 459) – Amends 47-2-125 to authorize the Board of Trustees to request relevant information from a disability retiree regarding post-retirement employment and related earnings limitations and provides authority to discontinue benefits if such is not provided.

Act No. 103 (House Bill 460) – Amends Georgia Code for various retirement systems to ensure Internal Revenue Code compliance.