ATLANTA — The state’s House of Representatives recently passed legislation that would increase retirement pay for public school employees, including school bus drivers.
The bill would amend the current public school employees retirement system to specify that a retiree would receive a monthly payment of $16 (up from $15) multiplied by the number of his or her years of creditable service. The benefit would be applicable to those employees who have already retired as well as to future retirees.
The legislation also indicates that if the Georgia General Assembly at any time appropriates funds intended for public school system retirees and the amount appropriated is not sufficient to fund the maximum amount allowable, then the monthly retirement benefit will be reduced, but it cannot be less than $14.75 (up from $12) multiplied by the members' years of creditable service.
The bill has moved to the state Senate for review.