Georgia § 47-16-121 - Reduction of benefits when available funds are actuarially insufficient; resumption of payments; personal liability of board for such reductions.
Full text of Georgia Official Code of Georgia Annotated § 47-16-121 — Reduction of benefits when available funds are actuarially insufficient; resumption of payments; personal liability of board for such reductions., with citation guidance and answers to common questions.
§ 47-16-121. Reduction of benefits when available funds are actuarially insufficient; resumption of payments; personal liability of board for such reductions.
If the board determines that the funds derived from the sources provided for in this chapter are not actuarially sufficient at any time to enable the board to pay in full each person determined to be entitled to benefits under this chapter and all contingent and other liabilities, then a pro rata percentage of such payments shall be made to each person entitled thereto until the funds are sufficiently replenished to enable the board to resume full payments in accordance with the terms of this chapter. Before resuming such payments in full, all persons who have received reduced payments shall be paid all deficiencies so that they shall have received full payment of their benefits. In no event shall any member of the board be held personally liable to any person for any deficiencies resulting from reduced payments under this Code section. (Ga. L. 1963, p. 630, § 22.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 47-16-121
What does Official Code of Georgia Annotated § 47-16-121 cover?
Section 47-16-121 ("Reduction of benefits when available funds are actuarially insufficient; resumption of payments; personal liability of board for such reductions.") 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 § 47-16-121?
A common citation format is "Official Code of Georgia Annotated § 47-16-121" (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 § 47-16-121 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.