When a member has accumulated a minimum 10 years (if joined prior to June 30, 2010) or 15 years (if joined on or after July 1, 2010) of membership service, has reached the age of 55, and has terminated his employment as a peace officer, he may be eligible for retirement benefits. Any member who has accumulated a total of 30 years of creditable service may qualify for retirement benefits regardless of age upon termination of his employment as a peace officer. The amount of monthly pension is currently based on $24.41 per month for each full year of service as a peace officer, plus 1/12th of $24.41 per month for each additional full month. This amount is payable based on a minimum service of 10 years (if joined prior to June 30, 2010) or 15 years (if joined on or after July 1, 2010) and a maximum of 30 years.
Before any retirement benefits can be received, the officer must terminate all peace officer employment. ****Effective July 1, 2002 members having obtained thirty years of service credit with the Peace Officers' Annuity & Benefit Fund and age fifty-five may receive benefits without retiring from law enforcement by making application to the Fund. ****Effective July 1, 2009 the afore mentioned law was changed back to the original stipulation that pension benefits would apply only to officers who were 55 or had 30 years service credit with POAB AND had terminated Georgia peace officer employment. Members joining prior to June 30, 2009 fall under the 2002 law, members joining July 1, 2009 and after must abide by the 2009 change.
Retired officers, with less than thirty years of service credit, are eligible to return to peace officer employment not to exceed 1,040 hours per calendar year. Should they return to full time peace officer employment, their pension payments will be stopped during such time. During any period of reemployment, the officer must pay monthly dues to maintain their rights to any benefits available as for any other dues-paying member. If a retired officer is re-employed for the minimum period of three years and has paid the required dues for such time, he may again apply for retirement.