Rule 513-5-1-.06. Service Credit

The awarding of service credit shall be calculated and awarded on a fiscal year basis giving the benefit of one-ninth of a year of credit for each month of service, and the salary shall be calculated under both a fiscal year and calendar year basis to determine which calculation produced the greater benefit to the member. A retroactive adjustment shall be made in the benefits of members who retired since 1975 who had been penalized by the policy of calculating their service on a calendar year basis. Effective with the beginning of the fall semester 1998 those academic faculty members who are employed by the University System under a semester system shall be awarded one-eight year of credit for each month of membership service until such time as the Board of Trustees deems appropriate to make a change.

Authority: O.C.G.A. Sec. 47-3-80.

History. Original Rule entitled "Service Credit" effective January 28, 1981; was filed on December 23, 1985.

Amended: F. Mar. 26, 1998; eff. Apr. 15, 1998.