Georgia § 47-3-126 - 4. Postretirement benefit for beneficiary.
Full text of Georgia Official Code of Georgia Annotated § 47-3-126 — 4. Postretirement benefit for beneficiary., with citation guidance and answers to common questions.
§ 47-3-126. 4. Postretirement benefit for beneficiary.
As used in this Code section, the term "beneficiary" shall have the meaning specified in paragraph (7) of Code Section 47-3-1. Subject to the limitations of subsection (c) of this Code section, effective July 1, 2006, the monthly retirement benefit of each beneficiary shall be increased by a percentage which varies in accordance with the time of retirement as follows: The full percentage increase provided for in subsection (b) of this Code section shall apply only to those beneficiaries who had 20 or more years of creditable service at the time of retirement. For those beneficiaries who had at least ten but less than 20 years of creditable service at the time of retirement, the monthly benefit increase provided for by subsection (b) of this Code section shall be reduced by 5 percent for each year less than 20 years of creditable service. Beneficiaries who had less than ten years of creditable service shall not receive an increase in their monthly retirement benefit under this Code section. Any county, municipal, or local board of education is authorized, but not required, to provide a postretirement benefit increase as provided in this Code section to any teacher who retired under a public retirement system or fund maintained by such county, municipal, or local board of education, provided that: The actuary for the fund certifies that such increase would not result in any unfunded accrued liability as to such retirement system; or The affected political subdivision appropriates sufficient funds to cover the actuarial cost of granting such benefit. (Code 1981, § 47-3-126.4 , enacted by Ga. L. 2006, p. 696, § 1/HB 400.) Time of Retirement Percentage Increase ------------------ ------------------- Prior to July 1, 1974 10.0 July 1, 1974, through June 30, 1982 6.0 July 1, 1982, through June 30, 1987 2.0 After June 30, 1987 0.0
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 47-3-126
What does Official Code of Georgia Annotated § 47-3-126 cover?
Section 47-3-126 ("4. Postretirement benefit for beneficiary.") 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 § 47-3-126?
A common citation format is "Official Code of Georgia Annotated § 47-3-126" (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 § 47-3-126 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
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