From: "Mike Digby" <mike.digby@gcsu.edu>
To: SoLAS Faculty
Subject: FW: FW: ORP Update
Date: Tue, 16 Oct 2007 11:42:14 -0400
X-Mailer: Microsoft Office Outlook 11
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Fyi.
md
 
 
From: Craig Turner [mailto:craig.turner@gcsu.edu]
Sent: Tuesday, October 16, 2007 11:40 AM
To: Mike Digby
Subject: Re: FW: ORP Update
 
Mike

Thanks for the ORP Update, a couple of observations:

* Another bullet point for HB 815 is the striking of the mandated legislative minimum of 4% on the employer contribution. 

* Another piece of legislation HB 865 seems to allow the possibility of an ORP participant (in State of Georgia legislativease,
   the ORP (Optional Retirement Plan) is called the Regent's Retirement Plan) to "buy in" to the TRS plan..  This piece of
   legislation (HB 865) has the same status (Second House Reading) as HB 815   
        HB 865 is available here: http://www.legis.ga.gov/legis/2007_08/fulltext/hb865.htm

* An archive (including the update below) providing a history of the recent ORP discussions (the University System Committee
  as well as previously received information on legislation pertaining to retirment plans) is accessible at
  http://info.gcsu.edu/intranet/univ_senate/ORP/

Please feel free to distribute this information more widely.

-craig

At 07:58 AM 10/16/2007, you wrote:

FYI.
 
 
From: Dorothy Leland [ mailto:dorothy.leland@gcsu.edu]
Sent: Tuesday, October 16, 2007 12:13 AM
To: Anne Gormly; Faye Gilbert; Linda Irwin-DeVitis; Mike Digby; Sandra K. Gangstead
Subject: FW: ORP Update
 
Please pass this on to your faculty.  Thank you!

Subject: ORP Update

USG Presidents,

Chancellor Davis has heard continuing concern from some campuses over the Optional Retirement Plan (ORP) issue.  We would appreciate your passing along the information below to members of your campus community who may be interested in this matter.

House Bill 815 was introduced during the 2007 session of the General Assembly.  A copy of the proposed legislation can be found at the following site: http://www.legis.ga.gov/legis/2007_08/fulltext/hb815.htm

House Bill 815 proposes two changes to the current ORP law:

Under Georgia law, retirement bills that are judged to have a fiscal impact cannot be acted upon in the first session of the two-year legislative term.  They must receive an actuarial study and be held over until the second year for action.  The House and Senate Retirement Committees voted to do the actuarial study of House Bill 815.  House Bill 815 will, therefore, be eligible for action in the 2008 legislative session.

The bill has the support of the Governor's Office and a number of key legislative leaders.  We are actively educating legislators about the importance of this legislation and will keep you informed of developments as the legislative process proceeds.