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|A Brief History of The Superior Court Clerks' Retirement Fund of Georgia|
The Superior Court Clerks' Retirement Fund of Georgia was created in 1952 by an act of the Georgia General Assembly. The Fund was created for the sole purpose of providing retirement benefits to Clerks of the Superior Courts of Georgia who meet certain eligibility requirements and who choose to join by paying the membership dues imposed by the legislation.
The Fund is administered by a Board of Commissioners, all of whom are appointed by the Governor of Georgia, all of whom serve without compensation. The Board of Commissioners elects its officers, one of whom, the Secretary-Treasurer, is responsible for the day-to-day activities of the Fund.
Through the years the Fund has grown to the point that benefits have increased substantially, and eligibility for benefits has been liberalized. While the original legislation provided retirement benefits for clerks with a minimum of 20 years of service, today’s Fund provides benefits with as little as twelve years of creditable service. The Act also allows for additional benefits for those with more than 20 years of service.
From the Fund’s inception, the Board of Commissioners’ principal objective has been to insure that the Fund remains actuarially sound, while seeking increases in member benefits when appropriate, consistent with the Fund’s income.
The Fund’s revenues are derived solely from fees collected by the Superior Court Clerks from fines and forfeitures, from civil fees, from recording fees on real estate instruments, from member dues, and from income on investments.
In 2002, the Act creating the Fund was amended to extend membership to State Court Clerks.
The Board of Commissioners has been blessed with a number of excellent board members over the years, all of whom have served with a strong sense of dedication.
The Fund has also been fortunate to have enjoyed the services of only three Secretary-Treasurers in its first fifty-five years of existence.