Georgia § 47-2-353 - Service retirement allowance.
Full text of Georgia Official Code of Georgia Annotated § 47-2-353 — Service retirement allowance., with citation guidance and answers to common questions.
§ 47-2-353. Service retirement allowance.
Every member subject to this article shall, upon becoming eligible under the provisions of this chapter, be entitled to a service retirement allowance, which shall consist of: An annuity which shall be the actuarial equivalent of the member's accumulated contributions at the time of retirement; and A monthly pension which, together with the annuity, shall provide a total retirement allowance equal to 1 percent, or such future amount up to 2 percent to be set by the board of trustees in direct relation to any increased appropriations provided by the General Assembly expressly for such increase, of the member's highest average monthly earnable compensation during a period of 24 consecutive calendar months while a member of the retirement system, multiplied by the number of the member's years of creditable service; provided, however, that for members employed on or after July 1, 2009, no salary increase by adjustment in compensation in any manner during the last 12 months, which increase is in excess of 5 percent, shall be included in such computation. (Code 1981, § 47-2-353 , enacted by Ga. L. 2008, p. 1005, § 1/SB 328; Ga. L. 2009, p. 322, § 5/HB 476.) The 2009 amendment, effective July 1, 2009, in paragraph (2), substituted "1 percent" for "1.0 percent" near the beginning and added the proviso at the end.
Frequently Asked Questions About Georgia § 47-2-353
What does Official Code of Georgia Annotated § 47-2-353 cover?
Section 47-2-353 ("Service retirement allowance.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 47-2-353?
A common citation format is "Official Code of Georgia Annotated § 47-2-353" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 47-2-353 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.