SB 285 Update - Passed the Legislature

The POAB Fund is pleased to share an update on SB 285 following final passage by the General Assembly.

The bill passed the House by substitute on March 19, 2026, and the Senate agreed to the House version on March 27, 2026. SB 285 now moves to the Governor for consideration.

If enacted, the legislation is expected to significantly strengthen the Fund’s financial position by establishing a new, dedicated revenue stream. Based on preliminary estimates, this could result in approximately $20 million in additional annual funding once fully implemented.

Below is the full update shared by Executive Director Homer Bryson:

SB 285 Update 

We are pleased to share that the House passed SB 285 by substitute on March 19, 2026. Because it was a substitute, the bill returned to the Senate to either agree or disagree with the changes.  We chose to wait to send an update until after the Senate acted on the bill.  

On March 27, 2026, the Senate agreed to the House version.

What This Means for the Fund

The passed version of SB 285 is an important step in improving benefits for our members.  SB 285 directs local governments to remit 1.5% of insurance taxes to POAB and 0.5% received by the state to be remitted to POAB through the appropriations process.

Based on very rough, preliminary estimates, once fully implemented, SB 285 could generate an additional $20 million annually for the Fund. It is a significant increase compared to current funding levels and would significantly strengthen the Fund’s overall financial position.  

As a comparison, in fiscal year 2025, POAB collected $29.1 million from fines and fees, $29.9 million from investment income, and $7.6 million from member dues.  If you would like to learn more about our total revenues and expenses, our Fiscal Year 2025 Annual Report is available on our website: poab.georgia.gov.

Additionally, the bill stipulates that on or after July 1, 2027, the Board would have the discretion to provide cost-of-living increases greater than the 3% annual limitation established in law for public pension plans. This creates an opportunity for the Board to move the retirement multiplier from $30 to $35 over a shorter time frame.

What's Next

The bill now goes to the Governor for consideration.  The Governor’s review process usually takes several weeks after the session.  We will continue to keep you updated as this progresses.

Both the House and Senate are committed to supporting a bill next session which will require an actuarial study to determine funding needs for pension increases in the future.

Answers to Questions We're Hearing

• This bill does not increase member dues.
• This bill does not prevent the POAB Board from considering COLA increases prior to July 1, 2027.
• This bill applies to all members of the Fund, whether they are currently retired, vested or an active member of the Fund.

We wish we could tell you what the retirement benefit will be in the future, but there are simply too many variables to make those predictions. What we can tell you is that as funding increases, the Board will be granting COLA increases as soon as our actuary deems it is appropriate.

On behalf of the Fund, I want to thank you—your support in this effort has been key to our success. Our ability to communicate directly with you –and your continued polite and consistent engagement with your legislators—remains critical to our future.

Homer Bryson

Executive Director

Peace Officers' Annuity & Benefit Fund